Florim Group reports 2009 profits of 3.5 million euro

The Florim Group has reported 2009 balance sheet figures in line with those of the sector as a whole with an average fall in output volumes of more than 30% over 2008.

The figures reveal a 21% fall in consolidated turnover, offset by net profits in the profit and loss account of 3.5 million euro and an improvement in all the fundamental economic and financial indicators. Consolidated turnover totalled 260 million euro while the net financial position improved by 25 million euro. Shareholders' equity has risen to 129 million euro while warehouse stock has decreased by 26 million euro compared with 2008.

As previously announced, Florim has confirmed its 30 million euro investment programme for the two-year period 2009/2010. The programme has partly been implemented at the production facility in Fiorano, where the company also has its registered offices. The sustainability and social responsibility report will also be drafted for the second year running.

During 2009 Florim made efforts to reduce the social impact of the crisis through a number of initiatives such as the Solidarity Fund set up by the Group's executives to help workers affected by reductions in working hours under the terms of the Wages Guarantee Fund. This initiative, which applies to the years 2009 and 2010, received the Province of Modena Business Social Responsibility award.