2017 results: Sales EUR 1,147 million, EBITDA EUR 160 million. A year of strong growth for RadiciGroup
| Subj: New capacity
RadiciGroup 2017ásales significantly exceeded one billion euros: theáGroupáŚ witháoverá3,000áemployees, companies iná16ácountries andá33ásales andáproduction units engaged ináchemicals, plastics andásynthetic fibresáŚ recorded consolidated sales revenue ofáEUR 1,147ámillion, aá20% increase overátheáprior financialáyear. Group net income rose byáoverá60% compared toá2016, driven byáanáincrease inásales volume, whileáGroup EBITDA was EUR 160ámillion (+ 45%).
ôOur competitive systemáoperates withárespect forápeople andátheáenvironment,ö said Angelo Radici, president ofáRadiciGroup. ôTheáfinancialástatement figures show thatáour Group is sound andáináexcellent financialácondition, ináspite ofátheáhigh levels ofáuncertainty thatácharacterize some ofátheáwidely diverse scenarios ináwhich theáGroup operates.ö
RadiciGroupĺs strategy continues toáfocus onáits strategic core business activitiesáŚ nylon chemicals, engineering plastics andásynthetic fibresáŚ withátheágoaláofáimproving its competitive position inátheámarket andáachieving anáoverallábalance amongátheágeographicaláareas where theáGroup operates ináorder toáreduce dependency onásingle markets andáboost cash flow toáreduce debt andáfinance new initiatives inácrucialámarkets.
ôOur 2017áresults are very positive andáshow higher Group growth compared toá2016, which has strengthened our balance sheet,ö stressed Alessandro Manzoni, CFO ofátheáGroup. ôWe are also very pleased withátheáresults ofátheáfirst half ofá2018, which rose compared toátheásame period ofá2017. However, inátheásecond half ofátheáyear, we are ináaámore cautious position due toátheánew climate ofápoliticaláuncertainty, which, naturally, has anáimpact onámarkets, asáwell. TheáGroupĺs financialáposition is extremely solid.ö
Moreover, iná2017áglobalánet value addedáŚ i.e., theáwealth created byáaácompany toábe distributed amongástakeholdersáŚ recorded aáfurther increase upátoáoveráEUR 258ámillion (EUR 206ámillion iná2016). ôOur Group is capable ofácreating wealth foráalláits stakeholders,ö Angelo Radiciácontinued, "but, atátheásame time, is also engaged inácutting back onátheáresources used toácreate sucháwealth. Iábelieve this virtuous interplay has allowed our enterprise toágrow ináaátruly sustainable way. ôAdditionally,ö Mr. Radiciáconcluded, ôwe continue investing toásupport theácompetitiveness ofáGroup companies: towardsáthis goal, duringátheálast 5áyears alone (2014ľ2018), we have invested EUR 210ámillion, ofáwhich EUR 50ámillion duringátheácurrent year.ö .