Conceria Pasubio turnover reaches 313 million euros in 2018 balance sheet, together with CVC for the first time

In 2018, Conceria Pasubio reached, in terms of consolidated revenues, 313 million euros. In the meantime, their employees now amount to 1,022 units: in 2017, there were 740 of them. Very good news, then, for the first financial statement of the group, based in Veneto, since they signed a partnership deal with CVC, a private equity fund which has been liaising with the Pretto family, since 2017, in the company management. “We are very happy about such accomplishments – remarked Luca and Alberto Pretto, shareholders and managing directors of Conceria Pasubio, in a corporate press release –. We achieved 313 million euros in terms of consolidated revenues:   although the statutory net profit turned out negative, owing to extra-management amortisation, after the merger between the control board companies, implemented when CVC joined the group, operating incomes exceeded 40 million euros. After making a number of investments, whose value is twice as much compared to our company’s traditional mean, we managed to create a 38-million-euro cash flow”.

Outlooks

Conceria Pasubio expect their revenues to increase, at the end of 2019, remarkably: +5%. As reported by a few financial informers, in the first four months of the year rewarding sales, which went up by 8% (that is, +110 million euros), along with Ebitda , which reached around 20 million euros, have been living up to expectations. The business trend of the group, based in the province of Vicenza, is still positive despite a current downturn in the automotive market. “Thanks to our position in the luxury and premium segments – carried on Luca Pretto – we can aim at further prospective development. We are gaining acknowledgement in some new car manufacturers, while acquiring, at the same time, the most prestigious and bestselling models of other car companies, which have been our clients for a while”. Conceria Pasubio may also rely on achievements coming from their own investments: “While expanding our activities, we focused our efforts on further stages in the interiors value rankings – remarked again Pretto –, therefore including cutting and lamination: that enables us to enhance and improve our relationship with customers and optimize our manufacturing process”.

Management

Since CVC joined Conceria Pasubio’s capital assets, they also jauntily refreshed the company’s management. The Board of Directors is composed of Gianandrea De Bernardis and Alfredo Altavilla (former FIAT manager), together with Giampiero Mazza and Giorgio De Palma, who are representatives of the fund in Italy. Meanwhile, Stefano Gelsomini took office as COO and Giuseppe Viola as CFO, while Claudio Azzaretto is the newly appointed CTO.

 

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