ITEMA 2013 earnings before tax shoot up 30%

12 Feb '14

4 min read

Itema’s revenue from the sale of Spare Parts was in line with expectations with no significant changes from the previous reporting period. The Spare Parts business unit was recently restruc-tured in order to devise and implement a new strategy, which has already started bringing in en-couraging results.

In 2013, the Company implemented a wide range of restructuring and process improvement measures, such as continuing on the path of Lean Manufacturing across the production facilities at both Colzate and Shanghai plants, increasing the ability of the Company to quickly respond to growing market demands for its products.

Itema has also introduced important automations of its production processes and far-reaching energy-saving initiatives at the Colzate plant. In Shanghai, Itema is finalizing the move of commercial offices and production plant to a new, energy-efficient and ergonomic site, with the Grand Opening on March 6th, 2014.

On the occasion of the Grand Opening in Shanghai the next month, Itema will announce new product developments which are taking shape following the years-long tradition of the Company to invest significant portions of its gross profits in R&D.

Itema made several high-profile and strategically important appointments during the course of 2013, naming Fulvio Carlo Toma as the Group Sales & Marketing Director. Prior to joining Itema, Mr. Toma was Chief Commercial Officer at Elettronica Santerno and held a number of leadership positions in major international companies, including CAP GEMINI, General Electric and Siemens. Giacomo Sala, Group CFO, was appointed also to the position of Managing Director of Itema Switzerland.

Itema started Q1 2014 on a very positive note and in line with the strong growth experienced in the same period last year. Nevertheless, the outlook for the rest of 2014 remains cautious, considering the most recent worsening of macroeconomic conditions in the Company’s key markets.

ITEMA Group

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