The Correa Group records revenues of 60.8 million euros, maintaining its consolidated growth trend and strengthening its position in the sector of large machining centre manufacturers. It also achieved a significant improvement in operating profitability, with EBITDA growing by 39% to EUR 8.9 million. The Correa Group´s order intake amounts to 90 million euros as of 30 June 2024, with a significant portion set for deliveries in 2025.
- The Correa Group consolidates its position in the market of manufacturers of large machining centres, obtaining historic turnover and results figures.
- During the first half of 2024, the Group has maintained a high level of activity, achieving a 21% increase in consolidated turnover, amounting to 60.8 million euros. This growth in sales has been accompanied by an increase in profitability, with a consolidated EBITDA of 8.9 million euros, representing 14.6% of ordinary revenues.
- The Group´s sustained growth strategy, focused on profitability, together with rigorous control of operating margins and volume growth, has enabled the Group to increase profit before tax by 51% compared to the same period of the previous year, reaching 8.4 million euros. These figures reflect a profitability of 13.8% on revenues, placing the Correa Group at the forefront in terms of profitability compared to its European competitors.
- Although 2024 has been an atypical year for the Group in terms of markets, the strong business performance in the United States and the United Kingdom has offset the slowdown in two of its main markets, China and Germany. As of 30 June 2024, the Group has an order intake of €90 million, with a significant portion of these orders for delivery in 2025.
- At the commercial level, the importance of the Group´s export activity continues to be key, accounting for 88% of its turnover, with a very significant diversification, both by sector and geography.
- The Group´s operations continue to generate a solid operating cash flow, which has allowed the continuity of the investment plans aimed at improving the Correa Group´s production capacities. Given the level of turnover achieved and the volume of machines currently manufactured, the Group is reaching the limit of its capacity. As a result, major investments have been initiated in infrastructure and equipment in the Group´s various companies.
‘In a particularly difficult year for us due to the loss of our Chairman, José Ignacio Nicolás Correa, we present our best results, focused on the profitability and growth of our business, as the best tribute to offer our shareholders in his memory.
We are at a decisive moment, immersed in new and important investments that will allow us to continue on this path of sustainable and profitable development, relying on technology, digitalisation and automation as basic pillars of the future, as well as on a team of people whose knowledge and commitment make this expansion possible. We are committed to Burgos as the geographical centre for the expansion of the manufacture of our machines, whose destination is increasingly diverse, managing to reach all corners of the world with our solutions.
Despite the uncertainties that, although different at all times, are now part of our daily landscape, the diversification of sectors and markets we have carried out allows us to think not only of a good second half of the year, but also of a promising next year, despite the challenges, which we face with the enthusiasm that our President instilled in us’, concludes the CEO of Grupo Correa, Carmen Pinto.
