 |
 |
||||||
[June 2008]
Turnover Up for System Group in Italy
Despite the market's contraction in 2007, System Group recorded positive results for the past year. The turnover of €234.5 million was an increase of 13% compared to 2006, aligned to the average increase of the past three years of 16.2%.
The group’s production registered an increase of 10.6% (€237.4 million), although the average sales price reduction was evident in the highly competitive ceramic field. The business trend of the branches in Italy and abroad were on the up, especially Laminam and Nuova Era. Exports now account for over 60%, whilst the market penetration reaches 60% for the sorting and packing lines and over 80% for the decorating systems.
Furthermore, said System, 2007 was a year of transformation with a progressive process of governance development, management and investment definition. During the year, a new rationalisation of the several activities of the group took place through the unification of Technology Spa and Ftp Automazioni Spa into the division of Ceramics, in order to have synergy throughout the whole management. This is a path that will be concluded by the creation of a fourth plant division that will be called SYSTEM Lamina. Finally, by the acquisition of a majority shareholding of Serigrafica Tosi, System Group has enriched completely its decoration service to its customers.
www.system-group
ENDS