Manroland Sheetfed reports revenue increase
Langley Holdings plc, parent company to the Manroland Sheetfed group, has published its IFRS Annual Report & Accounts for the year ended 31 December 2020.
Manroland Sheetfed revenues increased in 2020: €214.7 million. In 2019, the company logged €203.5 million.
Orders however decreased, from €61.2 million in 2019, to €54.6 million in 2020.
Overall, the report revealed similar financial year in 2019 and 2020. The uptick in order intake occurred in the later stages of 2019, and continued in the first two months of 2020.
Langley noted in his review that January 2021 has now seen a significant increase in inflows. Manroland Sheetfed had recently announced its factory is already in full production.
Manroland announced the ROLAND 900 Evolution printing press in 2020, together with the ROLAND 700 Evolution, Speed, Elite and Lite variants.
“With growth in the packaging sector and emerging markets increasingly outweighing the decline in traditional commercial print markets, the outlook for Manroland is positive and I expect a much improved performance from the division in 2021,” said group chairman, Tony Langley in his yearly review.
Overall, the Langley group recorded a profit before tax and non-recurring items of €28.5 million on revenues of €766.8 million in the year to 31 December 2020.
Non-recurring costs of €4.5 million, associated with the closure of the group’s Marelli Motori division factory in Malaysia during the period, resulted in a profit before tax of €24.1 million. The group acquired Marelli Motori, an Italian electric motor and generator producer, in 2019. In June 2020, the decision was taken to discontinue manufacturing operations in Malaysia. Net assets at the year-end were just over €707.2 million and consolidated cash around €288 million. The group has zero debt.