07 July 2023
The Court of Bologna declares the end of composition with creditors agreement
We are pleased to announce that the Court of Bologna declared the end of the company’s composition with creditors.
We will now pursue our ambitious goals for solid and sustainable growth as set out in the business plan, strengthening our leadership in the civil and environmental engineering sector and positioning ourselves at the heart of global infrastructure investment trends.
“The Court of Bologna’s decision means that we can proudly say that we have concluded a complex process in record time, which has always enjoyed everyone’s unwavering determination and support from our shareholders, all of whom have believed in our turnaround process from the very beginning,” says Sergio Iasi, Chairman of Officine Maccaferri. “We can safely say that we have kept the promise we made to the market: Maccaferri has regained its rightful status as an international leader, thanks to a focus on innovative solutions generating value over time from an economic, social, and environmental point of view. This result makes us proud and allows us to look to the future with confidence and enthusiasm.”
The positive outcome of the composition with creditors procedure proves the sound structural strength of the business and performance of Officine Maccaferri, which over the last few years, thanks to the skills and dedication of its management team and all its employees, has successfully continued to implement its development strategy, structurally increasing cash generation year on year and recording extraordinary economic and financial results. In the fiscal year that ended on 31 December 2022, Officine Maccaferri posted record revenues amounting to €665.7 million, up 23.1% from €540.5 million in 2021. Value of production increased by €125 million, or 23%, largely due to the Group’s strengthened leadership in all markets where it is operating.
“Officine Maccaferri is a byword for excellence and this decision represents a further step towards the bright path we have set for the company,” comments Lapo Vivarelli Colonna, CEO of Officine Maccaferri. “The end of the composition with creditors procedure is a further proof of the soundness of our development plan and the excellent results achieved, which will allow us to continue pursuing our ambitious growth objectives on a global scale.”
Officine Maccaferri will look ahead to the future with a new business plan that will allow it to focus on strengthening its position as market leader. The objective for the next 3-5 years is to strengthen penetration in the markets in which it operates and to branch out into new and emerging markets, supporting their infrastructural development. The company will stay committed to offering high value-added and sustainable technical solutions to a diversified global customer base and to developing new, cutting-edge products in all business lines, thus strengthening its reputation as a brand renowned for the range and quality of its systems in all segments of civil and environmental engineering worldwide.