BOLZONI S.p.A. Italian machinery company

Since the early 1950s the Company has been active in the design, production and distribution of lift truck attachments and industrial material handling equipment, a sub-division of the broader logistics division.The latter, due to the current process of globalisation, shows significant growth margins. Today Bolzoni is present in over forty countries worldwide. Its products hold the leading position in the European market for lift truck attachments and it is the second largest worldwide manufacturer in this sector. The Group offers a wide range of products utilized in the industrial material handling and, in particular, lift truck attachments, lifting tables and forks for lift trucks. Either directly or indirectly, Bolzoni S.p.A. controls 21 companies, all included in the Group's consolidation area, and located in various countries worldwide. Seven of these companies (including the Parent and the newly incorporated Bolzoni Huaxin China, not yet operational) are production plants situated in Italy, Germany, Finland, U.S.A. and China whereas fourteen companies have exclusively commercial and distribution activities, with the purpose of directly serving the principal logistics and material handling markets all over the world and one company carries out solely financial holding activities.

Numbers
Market cap 51.5M EUR
Sales 110M EUR (increase from 80M in 2009 but decrease from 147M in 2008, still good in a very competitive market especially with plants in W. Europe)
Quarterly Sales Growth 27%
EBITDA 7.3M EUR (last decade very profitable, lost money only in 2009)
Cash 5M EUR
LT Debt 27M EUR
Assets 90M EUR
Liabilities 55M EUR
Employees 608
Shares Outstanding 26,000,000
Float 8,100,000
Major Shareholders are insiders hold in total about 14,000,000 shares
Lazard Frères Gestion SAS 3%
Fideuram Investimenti SGR SpA 3%
AXA Investment Managers (Paris) SA 1%
Lupus Alpha Asset Management GmbH 1%
Natixis Asset Management SA 0.8%
Mediolanum Asset Management Ltd. 0.7%
Zenit SGR SpA 0.6%
HSBC Global Asset Management (France) SA 0.4%
Anthilia Capital Partners SGR 0.3%
Allianz Global Investors Italia SGR SpA 0.2%

Resume: The stock is down 70%, company is very profitable, debt is at normal level, high insider ownership, all market covered just look at their products catalogue. They had their recession already now when others will have theirs, Bolzoni will only profit from it. You decide.  

http://www.pazzosognofinanza.com/...fici&op=dettaglio&id=6441