{"id":12760,"date":"2024-07-04T07:03:10","date_gmt":"2024-07-04T05:03:10","guid":{"rendered":"https:\/\/www.piovan.com\/?p=12760"},"modified":"2024-09-12T15:24:00","modified_gmt":"2024-09-12T13:24:00","slug":"the-bod-approves-the-consolidated-half-year-financial-report","status":"publish","type":"post","link":"https:\/\/www.piovan.com\/tr\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/","title":{"rendered":"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT"},"content":{"rendered":"<ul>\n<li><strong>Total consolidated revenue and other income of \u20ac 287.5 million; Consolidated Adjusted Net Profit of \u20ac 22.9 million; Consolidated Adjusted EBITDA of \u20ac 38.8 million; Consolidated Operating Profit (EBIT) of \u20ac 33.3 million<\/strong><\/li>\n<li><strong>Negative Net Financial Position, steadily improving, stabilised at \u20ac 56.9 million \u00a0<\/strong><\/li>\n<li><strong>Order intake accelerated in Q2 2024; further improvement expected <\/strong><\/li>\n<li><strong>Resignation of the members of the Board of Directors effective upon completion of the sale and purchase transaction between Automation Systems S.p.A. and Pentafin S.p.A. of the controlling stake in Piovan S.p.A.<\/strong><\/li>\n<\/ul>\n<p><em>\u00a0<\/em><\/p>\n<p class=\" translation-block\">The Board of Directors of Piovan S.p.A. approved the consolidated financial results for the first half of 2024. <strong>Total consolidated revenue and other income amounted to \u20ac 287.5 million<\/strong>, -0.9% compared to the first half of 2023. <strong>Adjusted Operating Profit<\/strong> was <strong>\u20ac 22.9 million<\/strong> in H1 2024, 8% of total revenue (+10.6% compared to H1 2023). Consolidated <strong>Adjusted EBITDA<\/strong> is \u20ac 38.8 million (13.5% of revenue and other income, +3.0% compared to Adjusted EBITDA in H1 2023). <strong>Consolidated Operating Income (EBIT)<\/strong>, excluding the effects of IPEG's <em>Purchase Price Allocation<\/em> (\"PPA\") and NuVu's provisional PPA, was \u20ac 33.3 million (11.6% of total revenue and other income, +2.4% compared to 30 June 2023). Negative <strong>Net Financial Position<\/strong> improved: \u20ac 56.891 million compared to 30 June 2023 when it was negative at \u20ac 102.578 million. <strong>Earnings per share<\/strong> as at 30 June 2024 amounted to \u20ac0.54.<\/p>\n<p class=\" translation-block\">In summary, the <strong>financial results of the PiovanGroup<\/strong> in the first half of 2024 <strong>are good, especially in terms of profitability due to the increase in market share and the integration of the acquired companies<\/strong>. The company shows resilience in turnover and continues to improve profits, both as a percentage of turnover and in absolute value, in a macroeconomic framework that is still unstable but improving. <strong>A strength is the Group's international presence<\/strong>, with subsidiaries and production sites, <strong>in a variety of geographic areas<\/strong> - <strong>including those undergoing major development<\/strong> - <strong>and in diversified sectors<\/strong>. Great support is provided by the <strong>global sales and service network<\/strong>.<\/p>\n<blockquote><p>\u201c<em>The results obtained in this first half of the year \u2013 in a macroeconomic context characterized by great uncertainty \u2013 confirm once again the strength of PiovanGroup, which, thanks to its global presence, its attention to customers and the focus on innovation, has been able to confirm its positioning. These qualities are the same ones appreciated and shared by Investindustrial, the international partner with a strong entrepreneurial spirit that will accompany our Group on its future path of growth\u201d - <\/em>declares <strong>Nicola Piovan, Executive Chairman of Piovan S.p.A.<\/strong><\/p>\n<p>\u201c<em>We are very satisfied with the Group's performance in this first half-year and confident that the coming months will show a further acceleration in our financial performance, given the positive trend in orders collection in recent months that have allowed us to continue gaining market shares<\/em>\u201d - adds <strong>Filippo Zuppichin, Chief Executive Officer of Piovan S.p.A.<\/strong><\/p><\/blockquote>\n<p><strong><u>Revenue by business segment<\/u><\/strong><br \/>\n\u2022 <em>Technical Polymers Area:<\/em> -4.3% with a 4% recovery in Q2 and an improving trend (revenues in this area are 75.9% of the total). The decrease is due to a weak market since mid-2023, caused by high interest rates, with higher impacts on consumer goods and construction. The Recycling sector suffers from European regulatory uncertainty, which is now improving. Automotive (10% of total) and Fibre sector revenues, which had decreased in 2023, increased.<br \/>\n\u2022 <em>Food &amp; Industrial Applications Area<\/em><em>:<\/em> +25.3% compared to H1 2023. Revenues reflect acceleration in the development and production of major projects. Order intake, at an all-time high, and an increased customer base point to improvements in the second half of the year in the Food segment.<br \/>\n\u2022 <em>Servisler<\/em><em>:<\/em> +2.9% compared to the same period of the previous year, maintaining the good performance shown during 2023 and reflecting the benefits of the Group's strategy focused on growth in this segment.<\/p>\n<p>There was a significant recovery in order intake in Q2 2024, indicating an increase in market share. The backlog remains constant compared to the end of December 2023, higher than the Group's historical averages.<\/p>\n<p class=\" translation-block\"><strong><u>Revenue by geographic area<\/u><\/strong><br>\r\nSpecifically, the following should be noted: the significant increase in market share in the <strong>EMEA area<\/strong>; the resilience of the automotive sector in <strong>North America<\/strong>; the satisfactory backlog in <strong>Asia<\/strong>, which suggests a partial recovery in the second half of the year; and finally, a general contraction in demand in <strong>South America<\/strong>, partially offset compared to the first quarter of the year.<\/p>\n<p class=\" translation-block\"><strong><u>Sustainability and evolution of the international regulatory context<\/u><\/strong><br>\r\n<strong>In Europe<\/strong>, after a few months of uncertainty that held back the polymer recycling market, the finalisation of <strong>new regulations favours<\/strong> both reuse and <strong>recycling<\/strong>. Added to this are the regulatory changes expected in <strong>India<\/strong> and <strong>China<\/strong> on the use of recycled plastic in food packaging, which will favour the development of the Asian markets. For the PiovanGroup this is an opportunity: <strong>since 2006<\/strong> it has in fact contributed to the construction of hundreds of recycling plants and thousands of plants enabling the production of new products with recycled plastic. Technological leadership is supported by <strong>292 patents<\/strong>, divided into 125 patent families, of which <strong>18 relate to the circular economy<\/strong> (4 in 2023 alone). Lastly, <strong><em>Condenso<\/em><\/strong>, a product effective in condensing Volatile Organic Compounds (VOCs) from post-consumer plastics, was a finalist in the Plastics Recycling Awards Europe 2024 in the Recycling Machinery Innovation category.<\/p>\n<p class=\" translation-block\"><strong><u>Foreseeable facts<\/u><\/strong><br>\r\nOn 19 July 2024, <strong>Pentafin S.p.A.<\/strong>, <strong>the main shareholder of Piovan S.p.A.<\/strong>, and Automation Systems S.p.A., a company indirectly owned <strong>by Investindustrial<\/strong>, signed a <strong>sale and purchase agreement for the transfer of control of the PiovanGroup<\/strong>. Should the closing take place, it will open a new chapter for the future of the PiovanGroup, which will be written together with Investindustrial, with which it shares vision, values and a focus on sustainability. <strong>The main objective will be to consolidate Piovan's leadership and strengthen its international positioning, expanding into new markets and application segments<\/strong>.<br>\r\nThe resignation of the Board of Directors on 31 July is intended to allow for the appointment of a new administrative body that will reflect the future control structure of the Company.<\/p>\n<p><em>For a full reading of the financial results, please see the price sensitive press release available\u00a0<a href=\"https:\/\/www.piovan.com\/tr\/investors\/investor-relations\/\">i\u00e7in buraya t\u0131klay\u0131n<\/a>.<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Total consolidated revenue and other income of \u20ac 287.5 million; Consolidated Adjusted Net Profit of \u20ac 22.9 million; Consolidated Adjusted EBITDA of \u20ac 38.8 million; Consolidated Operating Profit (EBIT) of \u20ac 33.3 million Negative Net Financial Position, steadily improving, stabilised at \u20ac 56.9 million \u00a0 Order intake accelerated in Q2 2024; further improvement expected Resignation of the members of the Board of Directors effective upon completion of the sale and purchase transaction between Automation Systems S.p.A. and Pentafin S.p.A. of [&hellip;]<\/p>","protected":false},"author":4,"featured_media":11530,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107,1],"tags":[],"acf":[],"yoast_head":"<title>THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT - PiovanGroup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.piovan.com\/tr\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/\" \/>\n<meta property=\"og:locale\" content=\"tr_TR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT - PiovanGroup\" \/>\n<meta property=\"og:description\" content=\"Total consolidated revenue and other income of \u20ac 287.5 million; Consolidated Adjusted Net Profit of \u20ac 22.9 million; Consolidated Adjusted EBITDA of \u20ac 38.8 million; Consolidated Operating Profit (EBIT) of \u20ac 33.3 million Negative Net Financial Position, steadily improving, stabilised at \u20ac 56.9 million \u00a0 Order intake accelerated in Q2 2024; further improvement expected Resignation of the members of the Board of Directors effective upon completion of the sale and purchase transaction between Automation Systems S.p.A. and Pentafin S.p.A. of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.piovan.com\/tr\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/\" \/>\n<meta property=\"og:site_name\" content=\"PiovanGroup\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-04T05:03:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-12T13:24:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.piovan.com\/wp-content\/uploads\/1920x540_Header_Piovan-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/\"},\"author\":{\"name\":\"editor\",\"@id\":\"https:\/\/www.piovan.com\/#\/schema\/person\/5f87edf675866ddb3688c378b1f2e9cf\"},\"headline\":\"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT\",\"datePublished\":\"2024-07-04T05:03:10+00:00\",\"dateModified\":\"2024-09-12T13:24:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/\"},\"wordCount\":996,\"publisher\":{\"@id\":\"https:\/\/www.piovan.com\/#organization\"},\"articleSection\":[\"Featured News &amp; Events\",\"News\"],\"inLanguage\":\"tr\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/\",\"url\":\"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/\",\"name\":\"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT - PiovanGroup\",\"isPartOf\":{\"@id\":\"https:\/\/www.piovan.com\/#website\"},\"datePublished\":\"2024-07-04T05:03:10+00:00\",\"dateModified\":\"2024-09-12T13:24:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/#breadcrumb\"},\"inLanguage\":\"tr\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.piovan.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News &#038; Events\",\"item\":\"https:\/\/www.piovan.com\/tr\/news-events\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.piovan.com\/#website\",\"url\":\"https:\/\/www.piovan.com\/\",\"name\":\"PiovanGroup\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.piovan.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.piovan.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"tr\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.piovan.com\/#organization\",\"name\":\"PiovanGroup\",\"url\":\"https:\/\/www.piovan.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"tr\",\"@id\":\"https:\/\/www.piovan.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.piovan.com\/wp-content\/uploads\/2021\/06\/logo@2x.png\",\"contentUrl\":\"https:\/\/www.piovan.com\/wp-content\/uploads\/2021\/06\/logo@2x.png\",\"width\":489,\"height\":78,\"caption\":\"PiovanGroup\"},\"image\":{\"@id\":\"https:\/\/www.piovan.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.piovan.com\/#\/schema\/person\/5f87edf675866ddb3688c378b1f2e9cf\",\"name\":\"editor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"tr\",\"@id\":\"https:\/\/www.piovan.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/00b4d56fad3518b73f7eb42c1ba39ab5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/00b4d56fad3518b73f7eb42c1ba39ab5?s=96&d=mm&r=g\",\"caption\":\"editor\"}}]}<\/script>","yoast_head_json":{"title":"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT - PiovanGroup","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.piovan.com\/tr\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/","og_locale":"tr_TR","og_type":"article","og_title":"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT - PiovanGroup","og_description":"Total consolidated revenue and other income of \u20ac 287.5 million; Consolidated Adjusted Net Profit of \u20ac 22.9 million; Consolidated Adjusted EBITDA of \u20ac 38.8 million; Consolidated Operating Profit (EBIT) of \u20ac 33.3 million Negative Net Financial Position, steadily improving, stabilised at \u20ac 56.9 million \u00a0 Order intake accelerated in Q2 2024; further improvement expected Resignation of the members of the Board of Directors effective upon completion of the sale and purchase transaction between Automation Systems S.p.A. and Pentafin S.p.A. of [&hellip;]","og_url":"https:\/\/www.piovan.com\/tr\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/","og_site_name":"PiovanGroup","article_published_time":"2024-07-04T05:03:10+00:00","article_modified_time":"2024-09-12T13:24:00+00:00","og_image":[{"width":1920,"height":540,"url":"https:\/\/www.piovan.com\/wp-content\/uploads\/1920x540_Header_Piovan-3.jpg","type":"image\/jpeg"}],"author":"editor","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/#article","isPartOf":{"@id":"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/"},"author":{"name":"editor","@id":"https:\/\/www.piovan.com\/#\/schema\/person\/5f87edf675866ddb3688c378b1f2e9cf"},"headline":"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT","datePublished":"2024-07-04T05:03:10+00:00","dateModified":"2024-09-12T13:24:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/"},"wordCount":996,"publisher":{"@id":"https:\/\/www.piovan.com\/#organization"},"articleSection":["Featured News &amp; Events","News"],"inLanguage":"tr"},{"@type":"WebPage","@id":"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/","url":"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/","name":"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT - PiovanGroup","isPartOf":{"@id":"https:\/\/www.piovan.com\/#website"},"datePublished":"2024-07-04T05:03:10+00:00","dateModified":"2024-09-12T13:24:00+00:00","breadcrumb":{"@id":"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/#breadcrumb"},"inLanguage":"tr","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.piovan.com\/news\/the-bod-approves-the-consolidated-half-year-financial-report\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.piovan.com\/"},{"@type":"ListItem","position":2,"name":"News &#038; Events","item":"https:\/\/www.piovan.com\/tr\/news-events\/"},{"@type":"ListItem","position":3,"name":"THE BOD APPROVES THE CONSOLIDATED HALF-YEAR FINANCIAL REPORT"}]},{"@type":"WebSite","@id":"https:\/\/www.piovan.com\/#website","url":"https:\/\/www.piovan.com\/","name":"PiovanGroup","description":"","publisher":{"@id":"https:\/\/www.piovan.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.piovan.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"tr"},{"@type":"Organization","@id":"https:\/\/www.piovan.com\/#organization","name":"PiovanGroup","url":"https:\/\/www.piovan.com\/","logo":{"@type":"ImageObject","inLanguage":"tr","@id":"https:\/\/www.piovan.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.piovan.com\/wp-content\/uploads\/2021\/06\/logo@2x.png","contentUrl":"https:\/\/www.piovan.com\/wp-content\/uploads\/2021\/06\/logo@2x.png","width":489,"height":78,"caption":"PiovanGroup"},"image":{"@id":"https:\/\/www.piovan.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.piovan.com\/#\/schema\/person\/5f87edf675866ddb3688c378b1f2e9cf","name":"editor","image":{"@type":"ImageObject","inLanguage":"tr","@id":"https:\/\/www.piovan.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/00b4d56fad3518b73f7eb42c1ba39ab5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/00b4d56fad3518b73f7eb42c1ba39ab5?s=96&d=mm&r=g","caption":"editor"}}]}},"_links":{"self":[{"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/posts\/12760"}],"collection":[{"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/comments?post=12760"}],"version-history":[{"count":3,"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/posts\/12760\/revisions"}],"predecessor-version":[{"id":12790,"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/posts\/12760\/revisions\/12790"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/media\/11530"}],"wp:attachment":[{"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/media?parent=12760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/categories?post=12760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.piovan.com\/tr\/wp-json\/wp\/v2\/tags?post=12760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}