The integration with Sumitomo Heavy Industries started in June and is on going
The Lafert Group, European leader in design and manufacture of electric motors and drives customised for the industrial sector, closed the first-half 2018 with 21% growth in revenues, a little over 90 million Euro compared to the same period in 2017. The Ebitda margin also increased to 11% of net revenues (some 10 million Euro). Net profit after depreciations and taxes was 5.3 million Euro. Lafert closed 2017 with full year revenues of 150 million Euro, a growth of 9% on the 2016 figure and an Ebitda margin of 10%.
“We are satisfied with the process of expansion that Lafert is performing - say the Company Management. - Such a development is the reward for our strategies and we are sure that this is going to further consolidate over the coming years with the transaction established in June with Sumitomo Heavy Industries. The main target of the sale of Lafert to Sumitomo is to secure Lafert growth and consolidation as global leader in the sector of electric motors. We are introducing our company to the new shareholders in the best possible way, with the 2018 first-half results that are very satisfying and a positive forecast for the end of the financial year of 170 million Euro”.
In May 2018 Lafert was acquired by Sumitomo Heavy Industries Ltd., a Japanese leading Company listed on the Tokyo Stock Exchange that in 2017 reported revenues of over 6 billion Euros and with 20,000 employees worldwide. Following the acquisition, Lafert is now part of the Power Transmission and Controls division of Sumitomo Heavy Industries, which is known as the brand Sumitomo Drive Technologies, market leader in Japan.
“When we got in touch with Lafert, we immediately realised that this company had high potential. The decision to acquire Lafert and make it part of our Group was intended as a win-win transaction – asserts Shaun Dean, Vice President of Sumitomo Heavy Industries. - Lafert certainly gained the opportunity to enter a structured and well-established world leader, Sumitomo could mark a milestone for growing in the sector of electric motors and automation of industrial machines. Integration is going well and within the timing estimated: we really believe to reach the first results of synergies within a few years. Sumitomo is anyway a long-term investor and this is why there was an immediate affinity with the Lafert shareholders”.
Lafert has systematically grown, year upon year, from 80 million Euro revenues in 2010 to 150 million Euro in 2017. In 2018 Lafert engage worldwide 840 employees, of which 630 are located in the area of Venice, the remainder being located within group factories in Fusignano, Bologna, Slovenia and China, or the business sales offices. 73% of group revenues come from outside of Italy.
The Group is strongly oriented to using technical innovation to improve performance of drive systems within the areas of automation and energy saving. Lafert is the global market leader in the segment of Super Premium Efficiency (IE4, IE5) motors.