The Board of Directors of SOL Group has approved the company’s third quarter (Q3) 2015 results, revealing 8% growth in consolidated sales and strong performance in its homecare division in particular.
Consolidated sales of €501m ($536m) were up 8.3% versus Q3 2014 (€462m), while EBITDA (€111.7m/$118m) was 22.3% on sales (+6.3% over Q3 2014).
EBIT of €51.2m was 10.9% on sales (+10.9% over Q3 2014).
In a climate of still weak economy recovery, SOL notes that growth of 8.3% was 4.9% without the effect of acquisitions. The positive result is due to the growth of sales abroad, with an increase of 13.2% (also due to the acquisitions), but also to an improvement in Italy – where growth of 3.6% was achieved despite an end to production activity at an important customer, Acciaieria Lucchini.
The Technical Gases Division registered an increase in sales of 7.5% compared to to the first nine months of 2014, whereas the group’s Home Care Division – in which the group operates through VIVISOL – marked a growth of 8.9%.
Marco Annoni, Vice-President of SOL S.p.A., said in a statement, “The results confirm the capacity of development of SOL Group in a very difficult economic industrial contest.”
“In the year 2015”, added SOL S.p.A. Chairman Aldo Fumagalli Romario, “our target is to pursue the growth of the sales and to maintain the profitability of the group at a good level continuing the investment programme sustaining the development, the diversification and the innovation of the group in the future.”
Investments made by SOL in the first nine months of 2015 were equal to €63.2m ($67m). Net financial debt was €250m (€212.7 ml at 31/12/14).