Ingemont made a strong commitment to Elimco Aerospace when it took over this aeronautical supplier in October 2016 after the bankruptcy proceedings of its parent company Elimco Soluciones Integrales. A year and a half after it signed its purchase, the Seville-based group announces that its aeronautical investee has managed during 2018 to “grow and consolidate” and “improve all its ratios”.
Specifically, Elimco’s sales were close to €5.5 million last year, representing a contribution of almost 20% to Ingemont Group’s overall turnover, which exceeded €30 million in 2018 after growing by over 5%, according to data provided by the company.
For 2019, the forecasts are even more optimistic. In this way, Ingemont expects Elimco to grow by 16% this year, which would put its sales volume at 6.7 million euros. The business plan implemented by the new shareholders after the acquisition of the company foresees that by 2022 its aeronautical supplier will triple its current business and reach a turnover of 15 million euros. Elimco has specialized for 20 years in engineering and manufacturing of on-board and ground electrical and electronic equipment for aircraft in the aerospace and defense sectors, and is present in the main Airbus programs.
The Ingemont Group, which is made up of the companies Proyectos y Montajes Ingemont, Elimco Aerospace and Ingedemo, expects to return to double-digit growth and achieve sales of 35 million euros this year, a 16% increase. The company founded by the Sevillian businessman José Manuel Soria highlights investment in R&D&I as the driving force behind Elimco’s growth and consolidation. At the end of last year, the group created an Innovation area that provides transversal support to the entire company.
Among the milestones highlighted, he points out the award to Elimco by Airbus of the “Best Improver” award, in the “Structures & Materials” category, for the initiatives focused “on the continuous and sustainable improvement of its production processes, using innovation as a transmission belt, standardization and management”.