Sensor maker Gefran eyes M&A opportunities in Germany and North America, CEO says
09/09/2024 15:39
MILAN, Sept 9 (Reuters) - Gefran GFRN.MI , an Italian
company specialised in sensors, is looking to take over peers in
Germany and North America that have revenues of 10-20 million
euros ($11.04 million-$22.09 million), its Chief Executive
Marcello Perini said.
The company has "sufficient liquidity to go ahead with
buying another company" and does not need to propose a buyback
programme as part of any deal, Perini told Reuters in an
interview on the sidelines of TEHA business forum in Cernobbio
during the weekend.
Gefran, which employs 650 people in 10 countries and
generates 70% of its turnover abroad, has several possible
targets for M&A activity and sees 2025 as a good year to
complete deals, according to its boss.
"We are looking at the German market, but if there should be
opportunities in North America, we would evaluate them
carefully," Perini said.
This year, meanwhile, will end with revenues in line with
2023, but with somewhat lower margins compared to previous
years, he said. In 2023 Gefran posted revenues of 132.8 million
euros.
In the first half of this year Gefran reported sales of 68.5
million euros, down 4.2% compared to the same period last year,
while the net result was 7.2 million euros, down 3.4%.
At a time when numerous small and medium-sized Italian
companies have been leaving the stock market, Gefran will remain
listed on the Milan bourse and will continue to deliver a stable
dividend, the CEO said.
($1 = 0.9054 euros)
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(Reporting by Giancarlo Navach, editing by Gavin Jones,
Gianluca Semeraro)
((giancarlo.navach@thomsonreuters.com; +39 06 8030 7735;))