Italian woodworking manufacturer Biesse has posted a pre-tax loss of €2.5m for 2010.
The result from €327.5m sales was an improvement on the €36m loss recorded in 2009.
It said its first-quarter intake of orders was 24% higher than a year ago and 95% higher than in 2009, despite politcal and economic uncertainties during the period.
Western Europe remains its biggest market, representing 31.2% of sales, followed by Italy (18.5%), Asia Pacific (16.7%), eastern Europe (15.6%), North America (9.3%) and the rest of the world (8.7%).
Biesse’s three-year industrial plan 2011-2013 predicts average growth on revenues of 11-12%, with gross operating profits in 2013 to exceed 14%.
“We are convinced that another important contribution to this end could come from greater utilisation of our Indian location as a true and proper business centre for all of Asia,” said Biesse chief executive Giorgio Pitzurra.
“We believe that our presence here and the specific investments we have made in this geographic region favour Biesse’s growing commercial penetration in markets that, according to recent forecasts and macro-economic trends, have excellent development potential over the short and medium term.”
Biesse recently completed the acquisition of Italian sanding technology producer Viet, extending Biesse’s offering in sanding and extending the product range to include brushing machines.
The addition also extends Biesse’s presence in lacquering/painting applications requiring brushed to advanced high-gloss buffing applications.
