Marcolin buoyed by Thélios sale
Author: Andrew McClean
Marcolin reported growth and a return to profit in its financial statements for the year ending December 31, 2021.
Net sales increased in 2021 by 34% to €455.6m compared to 2020 and adjusted Ebitda exceeded €50m, which was almost double the rate in 2020.
Proceeds from investment in Thélios partly contributed to net profit of €153m as well as reduction in its net debt because of divestment of the joint venture, with Marcolin’s sales of shares finalised by the end of 2021.
Fabrizio Curci, Marcolin CEO a general manager, said: ‘Marcolin is a solid, high-performing company that has managed to react and achieve important results despite two difficult years due to the pandemic.’