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Giplast Group S.p.A.
Founded in 1977 and headquartered in Giulianova (centre of Italy, about 100 km south of Ancona), Giplast Group or Giplast is a private Italian company that offers a complete range of edge banding solutions for the furniture industry Giplast┐s product range is developed and manufactured by the company and can be grouped into PVC, ABS and specialized products. Until 2000, the Company concentrated on its PVC core products. Gradually, the product mix shifted to ABS material (now 95% total revenues), driven by its superior resistance and processing ease Since the acquisition of a key competitor, Flexi-Board in 2013, the company more than doubled its revenues and it became the leading player in the Italian market The acquisition of Flexi-Board was financed by the private equity fund Vertis, which owns ca. 11% of the Company, with the rest controlled by the Marozzi family Flexi-Board has been restructured since and its only plant recently shut-down, with production being transferred to Giplast plant in Giulianova. Giplast has 188 employees in Italy (175 hc) and Romania (13 hc). Giplast operates in a small niche market estimated at approximately EUR65M-EUR100M in Italy and ca. EUR800M in Europe. The edge banding industry is driven by the Italian furniture industry which experienced a sharp downturn in the 2008-2013 period. In 2015PF, the company recorded revenues of ?30.0M with a EBITDA margin of 10,7%, making Giplast the largest edge band manufacturer in Italy. The company caters to over 700 customers, of which the first two - IKEA and Media Profili - make ca. 25% of sales. Direct exports represent ca. 50% of revenues; however, this percentage is likely much higher as some of Giplast┐s large customers use the Company┐s edge bands in furniture sold abroad.

Financial Details

12/31/16 12/31/15
Total Sales 26,367,181.00 32,701,484.00
Ebitda -11,895,676.00 2,720,563.00
Ebitda Margin -45.00% +8.00%
Ebit -17,185,092.00 803,432.00
Ebit Margin -65.00% +2.00%
Result Before Taxes -18,455,294.00 -418,973.00
Net Result -18,502,334.00 -504,675.00
Net Financial Debt / (Cash) 17,659,415.00 14,357,426.00
Net Equity -17,701,241.00 295,335.00
Notes 12/31/15  Key Figures from Consolidated Financial Report  

Listed Instruments


Issuer Profile

Name Giplast Group S.p.A.
Legal Address SS 80 Colleranesco
ZIP Town 64021
Town, Country Giulianova (TE), Italia
Internet Website Please visit the relevant issuer/guarantor page
Rating N/A
Equity Market N/A
ELITE Program S

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