Record Turnover: CMZ Exceeds €85 Million in 2021
The chip removal machine tools sector is extremely competitive. In a market dominated by large multinationals with endless structures, beating your own turnover record is a feat of immense proportions. But that is what we have done, because we have reached €85 million in turnover, the biggest figure achieved so far in the company's history. Our growth and expansion plan is progressing according to schedule and climbing each step one by one is becoming a great achievement for us.
Over 500 machines delivered
The most striking figure can be found in the sales of CMZ lathes, which reached a whopping €103.5 million in 2021. This represents an increase of 53% compared with 2019, with 660 machines sold. The consolidated turnover figures, including those corresponding to services and spare parts and the e-commerce department (CMZ Store), recorded a total €85 million with 515 machines delivered, 6% more than in 2019.
2019 is undoubtedly the benchmark year, as it was the last “normal” financial year before the pandemic.
As for the markets we operate in, we continue to be an eminent exporter, with 80% of sales being to foreign countries. The main export markets by volume of sales are Italy and France.
CMZ Store: a new path
The launch of our online toolholder store - currently immersed in a thorough redesign process - in its first few months of operation recorded turnover figures close to one million euros annually, with average sales of €58K per month. Our assessment of our first steps in e-commerce is very favourable. The possibility of including new product ranges in our online store is becoming more and more real.
The family is growing
The remarkable increase in turnover has manifested in growth in the number of employees that make up our team. While many sectors have been forced to make redundancies as part of the collateral damage of the pandemic, our growth in sales has gone hand in hand with a significant increase in our workforce. We closed the 2021 financial year with a total of 428 employees spread out between all of our workplaces, including our subsidiaries in the UK, Germany, Italy and France, and not counting our sales network.
The areas that have seen the most growth have been production, machining and aftersales care.
Next target: €100 million turnover
The opening of Neoprec as part of CMZ’s expansion plan for the next few years is aimed at substantially reinforcing the group’s production capacity. The turnover target for 3 years’ time is to increase the total figure by 18%, to top €100 million. This means a year-on-year increase of 6%, which was achieved in 2021.
The €85 million turnover achieved in the last financial year marks a historic milestone that we hope to repeat in 2022, for which the forecasts are favourable.