MILAN, Sept 9 (Askume) – Italian company Gefran (GFRN.MI), which specializes in sensors, is looking to acquire its counterparts in Germany and North America with revenues of 1 million to 20 million euros ($11.04 million to $22.09 million), said CEO Marcello Perini.
Perini told Askume in an interview on the sidelines of the TEHA business forum in Cernobbio at the weekend that the company had “enough liquidity to continue acquiring another company” and did not need to propose a buyback plan in any deal.
Gefron, which has 650 employees in 10 countries and generates 70% of its turnover overseas, has a number of potential targets for M&A activity and believes 2025 is a good year to complete deals, according to its boss.
“We are keeping an eye on the German market, but if there is an opportunity in North America, we will evaluate it carefully,” Perini said.
Meanwhile, revenue this year will be comparable to 2023, but profit margins will be slightly lower than in previous years, he said. In 2023, Gefran reported revenue of 132.8 million euros.
In the first half of this year, Jeffran’s sales were 68.5 million euros, a decrease of 4.2% compared with the same period last year, and net profit was 7.2 million euros, a decrease of 3.4%.
The CEO said that at a time when many Italian small and medium-sized companies have withdrawn from the stock market, Gefran will remain listed on the Milan Stock Exchange and continue to pay stable dividends.
(1 USD = 0.9054 EUR)
