2023 HALF-YEARLY
F I N A N C I A L R E P O R T
Cembre S.p.A.
Head Office: Via Serenissima 9, Brescia, Italy
Share Capital: EUR 8,840,000 (fully paid-up).
Registration no: 00541390175 (Commercial Register of Brescia)
This document contains translations of the Interim Report drawn up in the Italian language
Contents
CONTENTS
Group Structure | 1 |
Consolidated Interim Report of the Cembre Group for the 1st Half of 2023 | 2 |
Attachment 1: Comparative Consolidated Income Statement | 16 |
Attachment 2: Composition of Corporate Boards | 17 |
Condensed Consolidated Interim Financial Statements at June 30, 2023 | |
Consolidated Statement of Financial Position | 19 |
Consolidated Comprehensive Income Statement | 20 |
Consolidated Statement of Cash Flows | 21 |
Statement of Changes in the Consolidated Shareholders' Equity | 22 |
Notes to the Condensed Consolidated Interim Financial Statements | 23 |
Certification of the Condensed Consolidated Interim Financial Statements at June 30, | |
2023 pursuant to Article 81-ter of CONSOB Regulation no. 11971/99, as amended | |
and supplemented. | 47 |
Report of the Independent Auditors on the limited audit | 48 |
2023 Half-yearly Financial Report
Cembre Group
Group Structure as at June 30, 2023
Cembre S.p.A.
(Italy)
100% | Cembre Ltd |
(UK) | |
100% | Cembre Sarl |
(France) | |
100% | Cembre España SLU |
(Spain)
100% | Cembre GmbH |
(Germany)
100% | Cembre Inc. |
(US) | |
Manufacturing and
Distribution companies
distribution companies
2023 Interim Financial Report | Page 1 |
Cembre Group
Interim report on operations of the Cembre Group for the 1st half of
2023
Operating review
The 1st half of 2023 confirmed the growth of the Cembre Group turnover, with consolidated sales in the second quarter close to €60 million, bringing total Group turnover for the first six months to €117.6 million, marking a 12.7% increase over the 1st half of 2022.
The performance of consolidated sales by geographical areas shows 12.1% growth in the Italian market, with sales equal to €52.0 million. Revenues in the European market (excluding Italy) grew by 14.5% to €53.9 million, while sales in non-European markets recorded an increase of 7.7%, with revenues equal to €11.7 million. In the 1st half of 2023, 44.2% of revenues from sales were represented by Italy (as compared with 44.4% in the 1st half of 2022), 45.9% by the rest of Europe (45.2% in the 1st half of 2022), and the remaining 9.9% by the rest of the World (10.4% in the 1st half of 2022).
The summary table of sales by geographical area is reported below:
(euro '000) | 1st half of | 1st half of | Change | 1st half of | 1st half of | 1st half of | 1st half of | |||
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Italy | 52,019 | 46,387 | 12.1% | 36,377 | 25,398 | 30,798 | 31,349 | |||
Rest of Europe | 53,946 | 47,127 | 14.5% | 39,567 | 30,383 | 35,727 | 30,718 | |||
Rest of the World | 11,677 | 10,845 | 7.7% | 8,603 | 8,875 | 10,353 | 11,228 | |||
Total | 117,642 | 104,359 | 12.7% | 84,547 | 64,656 | 76,878 | 73,295 | |||
Revenues from sales and services (net of intra-group sales), in thousands of Euros, are
broken down between the various companies as follows:
(euro '000) | 1st half of | 1st half of | Change | 1st half of | 1st half of | 1st half of | 1st half of | |||
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Cembre S.p.A. | 64,251 | 59,994 | 7.1% | 46,948 | 33,279 | 40,361 | 40,680 | |||
Cembre Ltd. (UK) | 13,412 | 12,251 | 9.5% | 10,983 | 7,642 | 10,401 | 9,320 | |||
Cembre S.a.r.l. (F) | 7,475 | 5,772 | 29.5% | 5,956 | 4,309 | 5,633 | 5,270 | |||
Cembre España S.L.U. (E) | 11,318 | 8,691 | 30.2% | 6,548 | 5,495 | 6,045 | 5,366 | |||
Cembre GmbH (D) | 13,519 | 11,191 | 20.8% | 9,335 | 7,956 | 7,689 | 5,491 | |||
Cembre Inc. (USA) | 7,667 | 6,460 | 18.7% | 4,777 | 5,975 | 6,749 | 7,168 | |||
Total | 117,642 | 104,359 | 12.7% | 84,547 | 64,656 | 76,878 | 73,295 | |||
2023 Interim Financial Report | Page 2 |
Attachments
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Disclaimer
Cembre S.p.A. published this content on 13 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2023 09:06:02 UTC.