- Creation of sustainable value
- Growth of the organisation
Results for the year were affected by the pandemic, remaining in line with the previous year, when the results had in turn be affected by the general stoppage for maintenance purposes.
In 2020, in relative terms, the weight of the domestic market on Bondalti’s margin decreased again, as the company strengthened its margin in the US market, and in sales for indirect export.
Following the refinancing of the whole financial debt in 2019, by means of a long-term syndicate loan contracted with 8 banks, in 2020 Bondalti reduced its financial costs as well its gross and net debt.
Financial indicators showed a marked improvement, with the Gearing ratio increasing to 32.4% (28.0% in 2019), whilst the Net financial debt / EBITDA ratio fell to 2.7 (3.2 in 2019), on the back of the decrease in net debt and a slight rise in EBITDA over the previous year.