off-the-wire

Italy's Interpump forecasts 25% sales growth in 2023-25

Kitco Media
By Reuters
Published:
Updated:
Reuters

Feb 15 (Reuters) - Italy's Interpump (ITPG.MI) expects sales growth of 25% between 2023 and 2025, the pump maker said on Wednesday after meeting its revenues goal of over 2 billion euros ($2.14 billion) last year.

The company, which manufactures pumps for industrial uses including crop spraying and car washing, posted a flat core profit margin at 23.7% in 2022, it said in a statement, adding that its pricing initiatives helped offset inflationary pressures.

Along the three-year period to 2025, Interpump sees a core profit margin of about 22% despite a likely "dilution deriving from acquisitions in the period."

Interpump also said its order books suggested it would post organic growth in sales of about 5% this year.

($1 = 0.9334 euros)

Reporting by Alessandro Parodi, editing by Gavin Jones
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