In what the company described as “a challenging macroeconomic environment”, the Turbon Group was able to increase sales and earnings in the first half of 2022.
The Turbon Group announced that sales in the first half of 2022 were €28.1 million ($28.1 million) compared to the first half of 2021, where sales were €22.8 million ($22.87 million). Earnings before taxes (EBT) were €8.5 million ($8.53 million) compared to the previous year’s €2.3 million ($2.31 million). Turbon explained that its earnings (before taxes) for the first half are significantly influenced by the sale of the property Ruhrdeich 10, Hattingen (one-time effect) in the amount of €6.2 million ($6.22 million).
After the repayment of its loans, Turbon AG is free of financial debts to third parties and is currently financed exclusively through equity and subsidiaries.
In the Turbon Printing segment, sales in the first half of 2022 were €18.3 million ($18.35 million), compared to the sales of first half of 2021 €13.8 million ($13.84 million). According to Turbon, the increase in sales is due on the one hand to the consolidation of sales from the US business acquired back in June 2019 (repurchase of shares in Turbon International, Inc.) and on the other hand to a large-volume order for a new customer.
Revenues in the Turbon Electric segment amounted to €9.6 million ($9.63 million) in the first half of 2022, an increase compared to the first half of 2021. The growth in sales is due to the acquisition of new customers and the expansion of business with existing customers, Turbon explained.
Turbon forecasts that for the full year sales of over €55 million ($55.15 million) will be achievable, as well as earnings (before taxes) of around €10 million ($1.02 million).
