Feb 22, 2013. /Lesprom Network/. Italian woodworking machinery manufacturer Biesse’s Board of Directors approved the new industrial plan for the period 2013-2015, as the company said in a press release received by Lesprom Network. The Biesse Group expects to achieve the following results over the coming three years: - growth in consolidated revenues (three-year CAGR: 3.8%), - increase in value added (41% of revenues in 2015), - recovery in profitability: - (EBITDA: 12% of revenues in 2015), - (EBIT: 8.5% of revenues in 2015), - three-year free cash flow: Euro 48 million. “In 2012”, commented the Chief Executive, Stefano Porcellini, “Biesse was faced with a highly critical and uncertain economic and financial environment in an industry –woodworking, glass and stone machineries – affected in particular as strictly linked to the housing trend and even exposed to the system liquidity (capital equipment credit crunch). Despite these circumstances, Biesse has recorded net sales in line with the previous year (2011) thanks to the export quote growth (91%), holding the net debt within safety margins (Euro 48 million expected at the end of 2012 – less 14 million compared to Sept. 2012) even considering relevant investments effected in China and India to obtain outlets on the emerging markets. Starting from these basis, today we have approved the requisite actions and projects to guarantee the growth of Biesse in the three-year period 2013-2015, with the main focus pointed to the processes and the technologic innovation. The caution is especially necessary for the 2013 financial year where a rebound it’s not easily predictable considering the actual economic environment, but we are sure that the international vocation of Biesse offers a concrete opportunity of overcoming the difficulties affecting the short-term international outlook. Moreover, we shall continue to focus on the balance sheet and on net operating working capital in order to gradually reduce our net debt.” Biesse Group operates in the market for machinery and systems for working wood, glass, marble and stone.