Vetus NV on course for increased sales and profitability in 2013
Following on from the news that Vetus had been acquired by Yanmar last week, the Dutch manufacturer and distributor has released 2012 figures for Vetus NV, stripped of the liabilities and interest payments carried by Vetus Holdings that by itself acted as financing entity for the operational company Vetus NV.
Vetus NV sales for 2012 amounted to around €40m, down from around €43m in 2011. EBITDA (Earning before interest and taxes) for the same period also fell from €2.4m to €1.1m reflecting, a spokesperson for the company told IBI, the continued downturn in the market in the second half of 2011 following signs of market recovery in 2010.
According to Vetus 2012 was generally positive with results pegged back by the strong impact of the eurozone crisis on its Southern European markets in particular, otherwise it states, sales for the year would have been on par with 2011. As it stands Vetus NV is forecasting increased sales and profitability for 2013, stating that for “Q1 2013 we have hit EBITDA target already in a still difficult market,” the spokesperson said.