Panariagroup posts 20% growth in the first quarter of 2015

Panariagroup Industrie Ceramiche, an Italian multinational operating in the high-end and luxury floor and wall tile segment, has posted strongly positive results for the first quarter of 2015.

The group led by Emilio Mussini has maintained the strong performance seen in the previous quarter with a consolidated turnover of 81.9 million euros to 31/3/2015 (20% up on the first quarter of 2014).

These results owed much to the improved international economic environment and the efforts made by the group to restructure and rationalise over the last two years. This increase has also had a significant impact on margins, with EBITDA reaching 6.3 million euros (up 3.5 million euros compared to the first quarter of 2014) and EBIT totalling 1.8 million euros, an increase of 3.1 million euros. Net profits were also in positive territory at 1 million euros (up 2.7 million euros on the first quarter of 2014).

Exports accounted for 80% of turnover and grew in all geographical areas: up 20% in dollar terms in the US market, which accounts for 37% of the group's revenues and has good prospects for the whole of 2015; up 8% in Europe, the second largest export area (31% of total revenues) with more than 20% growth in Portugal, Spain and Germany; and more than 20% growth in sales in Asia, South America, Oceania and Africa, markets that now make up 12% of the group's revenues.

Following years of stagnation, Panariagroup has also reported an upturn in the Italian market in the first quarter of this year (+6%) following a partial recovery during the second half of 2014, a performance that goes against the overall trend in the sector.