Florim indicators up

In spite of the continued critical condition of the sector, Florim has posted very positive results for yet another year. For 2010 the company has reported a turnover of more than 270 million euro (5.3% up on 2009), a gross cash flow of 40 million euro (24.4 million euro in 2009) and consolidated net profits of around 15 million euro compared to last year’s 3.4 million euro. EBITDA was also up from 36 to 42 million euro (corresponding to an increase from 13.8% to 15.3% of turnover).
In spite of the 30 million euro invested in plant renewal and product innovation during the year, the net financial position has improved by 26 million euro due to both stock reduction and liquid cash flow generated from operations. A major contribution to the result came from the Group’s American branch, which consists of the Florim USA facility in Tennessee and a logistic centre in Georgia.

The company has also made a positive start to 2011 and plans to invest more than 40 million euro in 2011-2012.