2020 snapshot sees Coral Group confirmed among virtuosos
PwC's annual research has been released that takes a snapshot of Piedmont's economic system in 2020, the year when companies were most impacted by Covid-19. Among the 500 virtuous companies in the Piedmont area, which also include giants such as the FCA Group (now Stellantis), Vodafone Italia and Lavazza, the Coral Group ranks 151st, substantially confirming its 2019 placement.
Although production value appears to be down 15 percent from the previous fiscal year, as it was a year that saw countless companies succumbed in the grip of the pandemic, Coral Group management says it is satisfied that it has "withstood the blow," especially with regard to another figure: the 4000 percent increase in net cash.
Investment and international growth among Coral Group's goals
The more than 4 million euros of liquidity will enable the company to support some important ongoing investments. First and foremost, the purchase of latest-generation machines, which have already been delivered and are operational at the Volpiano plant, followed by the opening of two new international offices to establish its presence in continental and overseas markets.
The first of these, which has just opened, is in Leverkusen, Germany, strategically located for fast and functional management of air extraction and filtration systems for German companies. The second is in San Marcos, Texas, and plans to strengthen the penetration in the United States and Central America already established with the network of dealers and installers present in the territory for years.
The satisfaction of the group board is therefore threefold: the excellent ranking in a particularly difficult year, a 2021 that saw sales exceed pre-pandemic vintages, and a 2022 that looks to be one of growth, development and affirmation.
