Candy Group prepares investments for 105 mn euro

Candy Group is celebrating its accelerated growth (1.035 bn euro in 2016) with the launch of an investment plan which will double the company's size over the next 5 years.

The group, managed by the Fumagalli family, has budgeted investments for this year alone of 105 mn euro (in addition to 43 mn euro for publicity and marketing), and plans to increase this figure by 50% over the next two years.

Among the most important injections of liquidity is its investment in the Brugherio plant, one of the most advanced Industry 4.0 plants in Europe, in which Candy will be investing 5 mn euro, 3 of them financed by the Lombardy Regional Government.

In 2016, along with increased turnover (+10%), the company's EBITDA reached 60 mn euro (+50% over the previous year), with profits of 12 mn euro. The company's primary market is still the United Kingdom (24% of sales), followed by France (+16%), while Italy accounts for 14% of its business.

According to the 2017/19 industrial plan presented by CEO Beppe Fumagalli, the group will be concentrating on their washing machine, built-in product and small domestic appliance ranges, and forecasts growth in turnover of 10% for 2017.