"We closed the year with over €500m in sales, a 10% growth compared to 2014, and with 56 million of gross operating margin, a net profit of 17 million and debt down to zero," said Andrea Aureli, the SCM Group CEO.

"We also recorded significant achievements in overseas markets, which account for 90% of our business. We opened three new branches in Dubai, Kuala Lumpur and the US West Coast, expanding our already widespread international network."

Mr Aureli also stressed the importance of investments the group intends to make as part of its 2016-2018 business plan: "Our 2016 – 2018 business plan is to continue to make significant investments in R&D to fill market needs. These investments, along with our unique ability to identify the specific needs of our customers, give us the power to develop effective business solutions."

Luigi De Vito, director of the SCM Group Woodworking Machinery Division said: "With our Woodworking Machinery Division – whose offering addresses the entire secondary wood processing sector, with a market value estimated at €3,300m – we have reached a turnover exceeding €380m, a brilliant result which places us as the second player in the sector.

The division’s turnover has increased by 23% compared to 2014, with over 17,000 machines sold. Mr De Vito explained that behind this growth "The top performers are without question two technologies: all models of our machining centres and our edgebanders achieving over 30% in orders total growth."

Caption for SCM Group:

Andrea Aurela, SCM Group CEO