Pavan reports 15% growth in revenue
Aug. 1, 2012
by World Grain Staff
GALLIERA VENETA, ITALY — The Pavan Group in Galliera Veneta, Italy announced on July 26 final results for 2011 with revenues growing 15% to €123 million, EBITDA amounting to €19 million and net income of €6.5 million.
“Our 15% growth is for us a great gratification that strengthen our solidity and encourages prospects. In a rapidly growing world, our scope is to offer an active contribution to growth worldwide, by providing increasingly efficient and rational solutions in order to extend the consumption of the food products manufactured by our clients, for whom the Group aims to become a valuable technological partner,” said Pavan Group Chief Executive Officer Andrea Cavagnis. “With the complete integration of Golfetto Sangati, world leading manufacturer of milling and animal feed equipment, acquired in early 2010, Pavan obtains the first rewards of a true Group policy, by exploiting the synergic potential of covering the entire supply chain: from unloading of the grain to the packaged product ready for sale on the shelf.”
Forecast for this year are highly positive, with an additional growth of 10% in volume and profitability. In Europe and North America, like in all mature markets, Pavan is pursuing a strategy aimed at enabling their customers to diversify the offer, in particular by promoting innovative lines for the production of snacks of new generation, fresh pasta and ready meals, with high convenience.
Africa and Latin America continue to be market areas with significant growth rates. Following the physiological trend of these areas, by proposing a technology that allows to obtain an optimized production of large quantities of finished products, led to significant installations in the area of pasta and the snack division. India and China and the entire Asian Continent are experiencing a moment of exponential growth in the food sector. The Group’s increased attention to these areas has enabled Pavan to consolidate longstanding relationships and create new business opportunities.