COMER INDUSTRIES AND WALTERSCHEID POWERTRAIN GROUP ARE CLOSING 2021 WITH CONSOLIDATED PRELIMINARY REVENUES OF 1.05 BILLION €, + 32% COMPARED TO 2020. PRELIMINARY NET FINANCIAL POSITION AT 121 MILLION €.
1/14/2022
14
January
2022
Comer Industries recorded revenues of 563 million €, an increase of 42% compared to the previous year, driven by the strong development of the Asia Pacific markets. WPG reported revenues of 485 million €, an increase of 22% compared to the previous year, thanks to the growth of the European market.
This result reflects the effect of the strong recovery in demand in the mechanics for the agricultural sector in the first half of 2021, combined with the good performance of the second half of 2021, driven by an increase in sales and orders. Net of the exchange rate effect, the preliminary consolidated pro-forma 2021 revenues amounted to approximately 1,052 million €, increasing by 33% the differential compared to 2020.
The preliminary net financial position (net of the IFRS 16 impact) shows a balance of 121 million €, an improvement of around 21 million € compared to the pro-forma net financial position as at 31st December 2020.
“During 2021, a year of historical importance thanks to the acquisition of WPG, the organic growth of our Group resumed too as the result of a booming international market and of the investments in innovation and production efficiency carried out by Comer Industries in recent years” says Matteo Storchi, Chairman and CEO of Comer Industries. “We are confident that, completing the integration process between Comer Industries and WPG, the Group will be able to continue on this solid and constant growing trend also in 2022”.
This result reflects the effect of the strong recovery in demand in the mechanics for the agricultural sector in the first half of 2021, combined with the good performance of the second half of 2021, driven by an increase in sales and orders. Net of the exchange rate effect, the preliminary consolidated pro-forma 2021 revenues amounted to approximately 1,052 million €, increasing by 33% the differential compared to 2020.
The preliminary net financial position (net of the IFRS 16 impact) shows a balance of 121 million €, an improvement of around 21 million € compared to the pro-forma net financial position as at 31st December 2020.
“During 2021, a year of historical importance thanks to the acquisition of WPG, the organic growth of our Group resumed too as the result of a booming international market and of the investments in innovation and production efficiency carried out by Comer Industries in recent years” says Matteo Storchi, Chairman and CEO of Comer Industries. “We are confident that, completing the integration process between Comer Industries and WPG, the Group will be able to continue on this solid and constant growing trend also in 2022”.
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