Panariagroup begins year with growth

Jul 11, 2007

11/07/07 Panariagroup, the ceramic group led by the Mussini family, has reported 10% growth in net revenues in the first quarter of the year.
In absolute values, sales revenues reached 92.6 million euro, due in part to the almost complete consolidation of Florida Tile.
The breakdown by geographical area shows that Italy maintained a significant market share with sales of 30.6 million euro, about 32% of the total, on a par with the results of the first quarter of 2006.
The European markets accounted for 41% of total turnover, with excellent performances in Germany (+13%) and France (+7.6%). Following the complete consolidation of Florida Tile, revenues in the US increased by 42.5% from 15 to 21.4 million euro. The US market now accounts for 23% of total turnover.

Panariagroup has also renewed its board of directors, confirming Giuliano Mussini as chairman, Giovanna Mussini as vice chairman and Giuliano Pini as managing director and general manager. Giuseppe, Emilio, Paolo and Andrea Mussini have been appointed managing directors respectively of the Panaria, Lea, Cotto D’Este and Fiordo divisions. Marco Mussini, Paolo Onori, Alessandro Iori and Giovanni Burani have also joined the board.