Carraro Group: new 2017‐2021 Business Plan presented to the financial community
The Group confirms its uniqueness as a player capable of supplying the entire range of technology solutions for off‐highway machines, from the single component to the complete agricultural tractor.
Objectives of the Plan
- Thanks to € 140 million of R&D investment over the past few years, more than 30 new products being launched on the market. A further € 90 million of R&D investment over the next 5 years to support new technologies
- Balancing of presence in emerging geographic areas: India, China, South America, Turkey, Russia
- Consolidation of the World Manufacturing Excellence Program: local for local and “4.0”
- New technological scenarios: efficiency includes hybrid and electric solutions
Financial targets in 2021
- Turnover at € 670 million, +3.7% compared to € 558 million in 2016
- EBITDA at € 75 million, 11.2% of turnover, CAGR +9.3% compared to € 48 million in 2016 (was 8.6%)
- Net Financial Position at € ‐91 million, compared to € ‐183 million in 2016
Forecasts for end of 2017
- Group turnover of € 583 million
- EBITDA equal to € 48 million
- Net Financial Position negative at € ‐131 million, significant improvement compared to € ‐183 million in 2016
Campodarsego (Padua), 26 September 2017 – Carraro SpA, leader in transmission systems for off‐highway vehicles and specialised tractors, today presented the Carraro 2017‐2021 Business Plan to the financial community, in the presence of the Group's top management.
"Thanks to a general recovery in the target markets and to the over 140 million euros invested in recent years in new products, today our Group has strengthened its competitive position globally. Confirming the focus on innovation, the 2017‐2021 Business Plan envisages a further 90 million euros dedicated to R&D. All this leads us to estimate further important growth beyond the Plan's horizon. – says Enrico Carraro, Group Chairman – The newly‐found financial strength, evident both in the increase in margins and in the marked decrease in NFP, allows the Group to present itself on the market stronger than ever”.