Mecalux continued to grow rapidly with an increase in sales of 16% in the third quarter of the year, rising from 384.7m euros in the same period for 2006 to 444.4m euros this year. Mecalux puts down the constant growth in company’s sales to the excellent progress and growth in the new markets in which it operates, an increasingly stronger strategic position in its traditional markets such as those in Southern Europe and the greater importance of the automated warehouse division, the latter a clear investment in the future of the company. In the first months of 2007 a number of new projects were signed for the automated warehouse division representing a total of 67.8m euros. Moreover, the takeovers carried out by the company, including the buyout of ESMENA and the automated warehouse division of ThyssenKrupp, are strategically important for the development of the company.
Growth in all markets
In the markets of Southern Europe, Spain, France, Italy and Portugal, the increase in sales continued at a rapid rate, rising to 15%. In Central and Eastern Europe, Group revenue increased by 49%, especially due to the growth in sales of the Polish subsidiary.
In the NAFTA area, sales rose by 14% in the first nine months of the year in US and 12% in Mexico, representing a rapid increase in market share in this area.
Growth was 28% in the MERCOSUR area. In Argentina, sales increased by 36% and in Brazil by 41%, the latter figure achieved thanks to the signing of important projects in this area. The Brazilian subsidiary has been part of the Mecalux Group since the buyout of ESMENA and is one of its centres of strategic operations for expansion in the area.
EBITDA and company profits
EBITDA (Earnings Before Interests, Tax, Depreciation and Amortization) was 68.1m euros, with a growth of 25% over the same period of the previous year, rising from 54.6m euros to 68.1m euros in this period of 2007, which represented an improvement in the profitability of the company.
Pre-tax profit increased by 53%, rising from 28.2m euros to 43.2m euros in the first nine months of 2007. However, net profit decreased in comparison with the same period of the previous year because the company had capitalised tax deductions and tax losses during that period in its Polish and US subsidiaries which amounted to a positive figure in the corporate tax amount. As they were not present in this financial year, net profit went from 35.5M in the first nine months for the previous year to 33.4M in the same period of this year.
Mecalux continued its rapid and continual growth thanks to the increase in sales in all the markets in which it operates and its swift entry into new markets. Automation as the future of storage and strategic buyouts also form part of the company’s strategy for expansion. After the buyout of TKINSA, the automated warehouse division of ThyssenKrupp, and Esmena, its main competitor in Spain, Mecalux is now preparing to take over UFC Interlake. The operation is planned for 2008 and if it goes ahead, this will strengthen the company in the United States and consolidate its leadership in Latin America.
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