SABAF - ANNUAL REPORT 2016
CHAPTER 4 - SOCIAL AND ENVIRONMENTAL SUSTAINABILITY
SABAF and lenders RELATIONSHIPS WITH CREDIT INSTITUTIONS The Group operates with a low debt ratio (net debt / shareholders’ equity at 31 December 2016 of 0.21; net debt / EBITDA of 0.92) and it has ample unused short-term credit lines. At 31 December 2016 the net debt amounted to 23.5 million Euro - compared to the 25.9 million Euro of 31 December 2015.
The relationships with banks are always characterised by the utmost transparency. Relationships are always favoured with those institutions able to support the Group in all its financial requirements and to promptly propose solutions against specific requirements.
DISPUTES There are no disputes in place with lenders.
SABAF and competitors MAIN ITALIAN AND INTERNATIONAL COMPETITORS In Italy and in Europe Sabaf estimates that it holds a market share of over 50% in each product segment and it is the only company that provides the complete range of components for gas cooking appliances, while its competitors produce only part of the product range.
Burner Systems International (BSI) is a US group that acquired control of the French manufacturer Sourdillon, a longstanding competitor of Sabaf, and Harper Wyman, the leading manufacturer of components for gas cooking appliances for the North American market.
Sabaf’s main competitors on the international market are Copreci, Burner System International and Defendi.
Defendi is an Italian company, acquired in 2013 by the German group EGO, and it is mainly active in the production of burners in Italy, Brazil and Mexico.
Copreci is a cooperative located in Spain in the Basque Country, part of Mondragon Cooperative Corporation and with Sabaf it is the main manufacturer of taps and thermostats in Europe.
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