Approved 2021 Financial Results
– Lohmar – March 28, 2022
Today the Board of Directors of the Comer Industries approved the 2021 Financial Statements and the Sustainability Report.
The results show a consolidation of the Group’s development path, with volumes rising considerably compared to the previous year and, in light of the substantial investment plan continued during the year, a strong increase in all profitability margins and the main balance sheet indicators.
Turnover exceeds 1 billion euros (563 million Comer Industries +42.2% compared to 31.12.2020 and 485 million Walterscheid Powertrain Group +22% y/y). Adjusted EBITDA stands at 128.2 million euros, Net Income reaches 54.3 million euros and the consolidated adjusted net financial position is 120.7 million euros.
“During 2021 Comer Industries and Walterscheid Powertrain Group have proven to be two complementary realities characterized by a sustained pace of growth, the result of investments and strategic vision,” commented Matteo Storchi, President & CEO.
The union between Comer Industries and Walterscheid Powertrain Group – strengthened by their common core values such as commitment to sustainable investments, cutting-edge technology, attention to their stakeholders and strategic vision for growth – has given birth to the world leader in mechanical engineering in the agricultural sector.
In 2021, the commitment to social, environmental and economic sustainability also continued with the “Our Bright Impact” project. For Comer Industries, the word sustainability does not only mean maximum attention to people and the planet, but above all it means profitable investments that, looking to the future, meet the needs of a society that is changing.
“The integration process, which is proceeding naturally, will undoubtedly bring benefits in the short and medium term in a very challenging market context in which the fundamentals remain solid”.