Calligaris Group closes 2020 improving profitability and operating cash flow

Company
Calligaris Group closes 2020 improving profitability and operating cash flow

Manzano, 19th April 2021 - Calligaris Group closes year 2020 with an EBITDA of €26 million with a 6% growth compared to the previous year despite the effects of the pandemic on the turnover.

Besides the good profitability result, there has been a clear improvement in operating cash flow.

The turnover of the group was €142 million, with a heavy decrease in the second quarter that has been partially recovered thanks to the order intake during the second half of the year (about 15% more than in 2019). It should be noted that the best performance among all product categories has been recorded on the upholstered furniture, closing 2020 better than the previous year, while the business of the group dedicated to contract has been, and still is, penalized by the closures of hotels and restaurants.

Despite the many difficulties, Calligaris Group did not slow down the strategic development projects defined with Alpha fund, which took over the group’s majority in 2018: above all, the investment in digital transformation has been marked by the launch of the new Calligaris’ web site in August 2020, with a direct e-commerce platform. Besides, the opening of new stores in Asia and Monaco, the opening of a Ditre Italia’s monobrand store in Paris, the renewal and presentation of Connubia’s new image and the development of a new outdoor collection, officially launched in April 2021 and the finalized integration of Luceplan, acquired at the end of 2019.

The Group also continued its search for synergistic partners, hoping that some acquisitions could be realized in 2021.

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"I am satisfied with the results achieved in my second year of management - explains Stefano Rosa Uliana, CEO of Calligaris Group since September 2018 - It was not easy to manage the company during this unprecedented global crisis. Luckly, the residential sector has held and partially compensated for the losses in the contract sector, which for us mainly means hotels and restaurants which most have suffered the closures. Our team succeeded in managing the emergency, making the right decisions that led us to close the year with results that in April were definitely unthinkable. Now, we must look to 2021 and continue with this determination: difficulties are not over and as a further consequence of Covid Emergency, problems with raw materials have now been added. Nevertheless, I remain positive about the near future especially after seeing positive signs in the first quarter of 2021, that we closed in line with the budget despite the long closures in key markets such as UK, France and Germany."


CALLIGARIS GROUP BRANDS:

With the claim "My life, My style", Calligaris brand renews its intention to become not only a furniture manufacturer but a real partner to create the dream home, able to reflect style. So that the house becomes even more a safe place to relax and feel comfortable in any occasion.

The Connubia brand is ready for a new challenge, in fact it has recently launched its first line of outdoor products: a collection dedicated to those who cannot give up color, even outdoor!

The Ditre Italia brand is always ready to meet the needs of the most refined customers and has become, as announced by its payoff #designwear, a real Atelier able to personalize upholstery of great quality.

And finally, the latest arrival in the Group: Luceplan. A real design icon in the lighting field with a catalogue including real pieces of industry’s history such as the Costanza lamp, and latest generation products with sophisticated electronic applications and innovative acoustic solutions, mainly dedicated to the contract sector. A real object of desire for a demanding and heterogeneous audience.