The Correa Group achieved revenues of 50.5 million euros and an EBITDA of 6.4 million euros, representing a margin of 12.7%. In addition, the order backlog for the Correa Group at 30 June 2023 increased by 41% compared to the same period of the previous year, reaching 105.5 million euros.
- The Correa Group continues the positive trend of previous years. The company has achieved record figures in this period at all levels in terms of revenues, EBITDA and profit, as well as in terms of order intake and order backlog.
- The high backlog with which the Group closed 2022 has enabled it to maintain double-digit growth in consolidated turnover, reaching €50.3 million, an increase of 11% compared to the same period last year. Despite the impact of the increase in salary and material costs, this increase in volume has allowed the group to increase its EBITDA by 47%, reaching 6.4 million euros, which represents a margin of 12.7% over revenues. These figures ratify the strategy established, as well as the management system to carry it out.
- The company´s consolidated profit before tax (PBT) was 5.6 million euros, 58% higher than in the same period of the previous year. In percentage terms, profitability is 11% of revenues, a ratio that maintains the Group as one of the most profitable companies in the sector.
- The year also closed with a record order backlog of 105.5 million euros, 41% higher than the Group´s order book for the same period last year. Despite the uncertainty and the uncertain outlook of the current economic situation, this order book figure reflects the good moment the company is going through, and makes them look at the near future from an optimistic point of view as they have a level of activity in line with their resources.
- Controlled debt levels and high liquidity continue to demonstrate the Group´s financial strength, which has enabled it to continue its commitment to shareholder remuneration, as well as its organic and profitable growth. In recent months, work has begun on the new machining subsidiary, which will have modern, digitised and automated facilities. In addition to being a new plant that will make the company´s production process more efficient, it will also serve as a showroom to see in situ what the "factory of the future" will be like.
- On a commercial level, the importance of the company´s export activity continues to be key, as it represents more than 87% of its turnover, with significant geographical diversification. The group´s sectoral and geographical diversification is particularly relevant at this time. By sector, two activities stand out above the rest, Defence and Aerospace, although the Automotive sector, more unevenly, is beginning to show signs of recovery. By markets, particularly noteworthy in this period were the commercial results obtained in the Chinese market. Germany has become one of its main markets. A third major market in 2023 is Turkey, where the automotive sector is becoming well established.
- "The second half of 2023 will once again be full of challenges, but also opportunities. The Correa Group has the great challenge of advancing in the innovation of its products and services, controlling energy, financial and labour costs, retaining and attracting talent, guaranteeing supply chains and logistics, while increasing its growing business commitment to environmental and social sustainability" concludes Carmen Pinto, CEO of the Correa Group.