Grupo Correa slightly increases its profit in the first half of the year and bills 19% more
In the first half of the year, the Correa group obtained a consolidated profit before taxes (BAI) of 3.5 million euros. This means a figure slightly higher than that registered in the same period of the previous year.
In percentage terms, the benefit represents a return of 8% on income, data that places the Correa group in a position of reference in the sector of manufacturers of large milling machines.
As far as ordinary income is concerned, the group from Burgos reached 42.5 million euros, which is 19% more than in the same period of the previous year, when it invoiced 37.9 million euros.
The business group specializing in milling solutions is “consolidating its growth path” undertaken prior to the pandemic and despite the current situation of constant and widespread increase in energy, raw material and transport costs, to which it has joined rising inflation, they reported in a statement. “The Correa group is managing to maintain its profitability levels,” they highlight.
Likewise, the Correa group achieved a gross operating result (Ebitda) of 4.3 million euros, placing the Ebitda ratio over income at 10%, a figure higher than the average profitability of the machine tool sector.
Optimism for the second half of the year
The Correa group closed the first semester with an order portfolio at record levels for this date of the year, amounting to 74.8 million euros, 67% higher than what the group from Burgos had the previous year on these same dates, which leads them to look at the second half “with some optimism”, since many of these orders They will be delivered in 2023.
On a commercial level, export activity represents more than 95% of its turnover, with significant geographical diversification. From the company they have explained that in the coming months they will focus their efforts on the defense, renewable energy and aeronautics sectors, in which activity “is picking up”.
The CEO of the Correa group, Carmen Pinto, has pointed out that despite the economic contextexpect the company’s profitable growth to continue. “We will continue to promote the development of our production processes, valuing initiatives that allow us to grow in volume, with a focus on efficiency,” he pointed out.
Also, Pinto has focused on the arrival of European fundswhich could give “a boost” to some of their projects, although they will not be a determining factor, since they have “the conviction” to carry out their production processes “regardless of the source of financing”.
