MILAN (Reuters) – Gefran, an Italian company specialised in sensors, is looking to take over peers in Germany and North America that have revenues of 10-20 million euros ($11.04 million-$22.09 million), its Chief Executive Marcello Perini said.
The company has “sufficient liquidity to go ahead with buying another company” and does not need to propose a buyback programme as part of any deal, Perini told Reuters in an interview on the sidelines of TEHA business forum in Cernobbio during the weekend.
Gefran, which employs 650 people in 10 countries and generates 70% of its turnover abroad, has several possible targets for M&A activity and sees 2025 as a good year to complete deals, according to its boss.
“We are looking at the German market, but if there should be opportunities in North America, we would evaluate them carefully,” Perini said.
This year, meanwhile, will end with revenues in line with 2023, but with somewhat lower margins compared to previous years, he said. In 2023 Gefran posted revenues of 132.8 million euros.
In the first half of this year Gefran reported sales of 68.5 million euros, down 4.2% compared to the same period last year, while the net result was 7.2 million euros, down 3.4%.
At a time when numerous small and medium-sized Italian companies have been leaving the stock market, Gefran will remain listed on the Milan bourse and will continue to deliver a stable dividend, the CEO said.
($1 = 0.9054 euros)
(Reporting by Giancarlo Navach, editing by Gavin Jones, Gianluca Semeraro)
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