Proger confirms leadership among engineering companies, increases profits and assets

In the year of Covid Proger spa is confirmed as the leading engineering company in Italy. The close of the 2020 financial statements shows an increase in EBITDA (+ 20.10%), net profit (+ 15.75%) and shareholders’ equity (+ 12.5%), and a substantial confirmation of turnover to 88 , 25 million euros, against a value of 88.95 in 2019 (-0.79%). In addition to the turnover of the Italian spa, the Group boasts various shareholdings in Italy and especially abroad (from Egypt to Russia) where Proger operates through its numerous subsidiaries (legal entity). “Proger’s economic results for the year 2020 are to be considered more than satisfactory despite the Covid emergency, a judgment reaffirmed by the Cerved Rating Agency, which on the basis of the results for the year confirmed the A.3.1 rating to the company, defining it a company with solid fundamentals and a high ability to meet financial commitments with low credit risk ”, commented Marco Lombardi, CEO of the company. The gross operating margin (ebitda), contrary to what has happened worldwide, has had a substantial improvement reaching 12.54 million euros against the 10.44 million recorded in 2019. Of particular interest for potential investors is certainly the value of the Ebitda Margin (ebitda / Value of Production) which stands at 14.21% with an increase of 2.47 percentage points compared to 2019 (11.74%). Net profit therefore stood at € 5.78 million, an increase of approximately € 1 million compared to the previous year. From a financial and equity point of view, Proger spa shows an excellent relationship between Net Financial Position (Pfn) and EBITDA, both in absolute value and with respect to the sector to which it belongs; the de quo index, equal to 1.99 compared to 2.60 in 2019, summarizes, given the operating margin achieved, the ability to repay the bank debt in a limited time frame and in any case much lower than that actually contracted . Finally, the “book value” of Proger (Company equity) is noteworthy, which shows a marked increase, amounting to 49.136 million euros compared to 43.681 in 2019. The positive results of 2020, despite Covid-19, are attributable to the performance of Proger’s main business lines and more precisely: Multidisciplinary Engineering: for the strategic role assumed during the spread of Covid-19, carrying out orders related to the expansion of healthcare facilities and the procurement of specialized medical devices. Infrastructure: for due diligence and construction management and surveillance activities carried out for Aspi. It should be noted that the sector in question is to be considered in strong expansion given the particular attention that the Italian and European legislator has towards the maintenance of high-risk infrastructures (bridges, tunnels, dams ..). Green Energy: for activities related to the production of energy from renewable sources, biofuels and the energy efficiency of existing real estate assets. Oil & Gas: for the engineering and construction orders of fully automated drilling rigs; Proger’s “Stargate Rigs” system is, in fact, “unique” on the international market as the automations applied to the main components of the plant allow both to carry out drilling without personnel, controlling the process from a control cabin and eliminating in this 100% of the risk of serious accidents, which is extremely easy to assemble and disassemble the plant itself, speeding up the transport from one field to another with a significant cost saving.