Concordia sulla Secchia (MO), 1 September 2020 – The final balance sheet of the multi-service energy cooperative for the first half of 2020 was presented to the Board of Directors of CPL CONCORDIA.
The effects of the construction site blockades caused by the lockdown affected the first half of the year, which recorded a drop in turnover compared to the forecasts of the budget approved in December 2019, with a value of production which amounted to 131.7 million Euros and a pre-tax profit of 5 million.
"The first 6 months of the year were characterized by the global pandemic, which inevitably also impacted CPL's opportunities and operations," said CPL CONCORDIA Chairman Paolo Barbieri. "Due to the blockades of the construction sites, we activated the redundancy fund but already at the beginning of May we returned to full operation, in conditions of total safety and promoting smart working to the maximum".
Already in the second half of the year, the company, considering a situation related to the pandemic that does not foresee new lockdowns, estimates a recovery of the main indicators, capable of reaching the value of production at the end of 2020 close to 300 million euros with an expected positive net result.
Finally, in terms of acquisitions, there is a multi-year portfolio of over 900 million euros, an increase compared to 2019, which allows the Modena-based group to look forward to the pursuit of its multi-year business plan with confidence.
"The results of the period demonstrate the resilience and reaction of our company and its staff to exceptionally extraordinary events such as the Covid-19 event (which follows that of the 2012 earthquake and the well-known events of 2015); This resilience gives us a further boost in the want to activate and pursue a path of updating and efficiency which will have to produce its effects as early as the next few years", concluded General Manager Pierluigi Capelli.
