Large Italian service centre Gruppo Manni is targeting growth abroad in line with most Italian steel producers and distributors who are offsetting the weak domestic demand with export sales.
According to Manni’s 2018 financial statement seen byKallanish, the large long products buyer increased turnover by almost 9% year-on-year to over €630 million ($705.1m), of which 40% was achieved abroad. Manni’s target is to increase exports’ share in revenue to 50% by 2021, president Giuseppe Mani told the Italian press. Last year the company sold 310,000 tonnes of steel products. Ebitda stood at €20m, the report states.
“These good results should be examined taking into consideration the difficulties our sector has faced, which have now lasted for a decade,” Manni says in the report. “Such difficulties have unexpectedly worsened in recent months, due to a general economic downturn.”
Manni operates in Italy, Spain, Romania, Germany, Russia and Mexico. It comprises 14 companies operating in three different business units, producing, processing and marketing high-tech steel products and advanced design services.
Manni Sipre is a European leader in semi-finished steel products, components and structural systems for the construction sector. The group has a subsidiary Manni Inox and Manni Green Tech that produces lightweight structures. Manni Store serves the north-western Italian market as a distributor of the group’s products. Isopan focuses on the production of insulating metal panels for walls and roofs targeting key international markets.