SOL S.p.A has recorded increases across the board in its 2016 full-year financial results, with its consolidated net profit soaring by 36% to €44.1m ($47.9m).
Despite an unstable climate of moderate economic recovery, market volatility and uncertainty about raw material prices, the Italian industrial gas producer achieved an increase in sales volume of 4.3% compared to the prior year, totalling €703.4m ($763.3m).
Although SOL recorded increases across the board, its international sales outpaced domestic sales, climbing by 6.5% and 2% respectively. SOL’s international sales accounted for around 52.9% of total sales.
The company’s Home Care Division, which it operates through VIVISOL, marked a 5.9% growth, whilst its Technical Gases Division also demonstrated an increase of 2.7%.
Capital expenditures of the group totalled €98.4m ($106.8m) and its operating consolidated cash flow amounted to €127.5m ($138.4m).
Vice-President Marco Annoni enthused about the results and stated, “[They] confirm the capacity of development of SOL Group in a complex and uncertain economic environment.”
Aldo Fumagalli Romario, President of SOL, expressed his confidence in his company’s capability for further growth and added, “In the year 2017, we’ll continue the investments and acquisitions programme sustaining the development, the diversification and the innovation to pursue the growth of the sales, maintaining the profitability of the group at a good level.”
SOL is the Italian leader in the production and marketing of technical, industrial, pure, special and medicinal gases and operates across Europe, Turkey, Morocco and India.