The Group’s total turnover in 2016 was 516.3 million euros, up by 9.7% compared to the previous year (470.6), even though prices remained stable in the Panel Sector and dropped in the Steel Area.
An increase in volume has been reported in all Business Units.
In the Steel Business Unit, the contribution to growth came from both Manni Sipre and Manni Inox, which both introduced new pre-processing and customer care services.
In the Panel Business Unit, development came from international business and namely with the launch of start-ups in Russia and Mexico. The 30.2 million of EBITDA in 2016 mark a distinct improvement compared to 2015 (16.1 million euros), accounting for 5.8% of the turnover (3.4% in 2015). The improved profitability comes from the extension of engineering services of metal structures provided to customers in product delivery and the improved market segmentation in the panel industry, where the Group selected customer niches by offering a broader range of high quality products.
An important process digitisation project was launched in 2016, involving extensive Information and Communication Technology changes with new processes focused on customer service and sales management. We kept on pursuing investments to extend and improve production lines and to seek new products and materials in all Business Units. The total of
the new investments started in 2016 accounted for 15.2 million euros. The net financial position of 107.5 million euros shows an improvement compared to the previous financial year (120.3 million euros). The development of the Group’s business led us to reach 1,031 employees (961 in 2015), mainly working on the development of international business, the services of the Holding and research and innovation sectors. We launched new training schemes involving all our employees, namely on the most advanced frontiers of digital innovation, the integration of processes in social networking, industrial research and the diffusion of sustainability.