(Alliance News) - Biesse Spa announced Wednesday that the board has approved its 2024-2026 business plan, forecasting average annual revenue growth between 2 percent and 4 percent over the plan period.

Ebitda margin is expected between 8% and 10% while Ebit margin is expected between 4% and 5%. Capex in plan arc will be EUR150 million.

The company, which aims to keep the backlog at nearly stable values, estimates a Net Financial Position for the three-year period of EUR5-20 million, net of IFRS 16 effects, the acquisition of GMM and dividend distribution.

"The company, despite the uncertainties and economic and geopolitical turmoil worldwide, intends to steadfastly pursue a strategy of focus and efficiency in markets and products, an optimization of operating costs, continuing the implementation of the "one company" evolution project started in the last three years and implementing the integration process of the acquired company," the company said.

Biesse's stock is down 1.2 percent at EUR12.54 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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