Interpump lifts 2023 sales outlook after strong second quarter

Interpump SpA

04/08/2023 12:54

Aug 4 (Reuters) - Italy's Interpump  ITPG.MI  lifted its
sales outlook for 2023 on Friday as the high-pressure pump maker
expects organic growth and profitability achieved in the second
quarter to continue throughout the year.
    "Based on information available, it is legitimate to imagine
organic growth in 2023 that significantly exceeds our
expectations at the start of the year, along with a solid and
stable income performance and EBITDA up compared to 2022,"
Interpump chairman Fulvio Montipò said in a statement.
    The group, which manufactures pumps for various industrial
applications including crop spraying and car washes, had in
February forecast organic sales growth of about 5% in the year.
    The group reported a 14% yearly increase in earnings before
interest, tax, depreciation and amortization (EBITDA) to 145.7
million euros ($159.38 million) in the April-June period, and a
10% increase in net sales to 592.2 million euros.
    The Milan-listed stock fell 3.3% following the release, 
despite the upbeat sales outlook and results in line with
expectations.
 ($1 = 0.9142 euros)

 (Reporting by Alessandro Parodi, editing by Keith Weir)
 ((Alessandro.Parodi@thomsonreuters.com;))