GVS SpA
MIL:GVS
GVS SpA
GVS SpA engages in the manufacture of filter solutions for the healthcare and life sciences, energy and mobility, and health and safety industry application sectors. The company is headquartered in Zola Predosa, Bologna and currently employs 3,077 full-time employees. The company went IPO on 2020-06-19. Its offering includes seven product lines: Healthcare, Laboratory, Mobility, Air Safety, Appliance, Personal Safety and Membranes. Each product line provides a suite of customizable solutions specifically related to each market. Additionally, the Company offers tailormade product and process development services, which cover all the project stages, including product and process design, validation, up to the mass production for large quantities. The company is active globally.
GVS SpA engages in the manufacture of filter solutions for the healthcare and life sciences, energy and mobility, and health and safety industry application sectors. The company is headquartered in Zola Predosa, Bologna and currently employs 3,077 full-time employees. The company went IPO on 2020-06-19. Its offering includes seven product lines: Healthcare, Laboratory, Mobility, Air Safety, Appliance, Personal Safety and Membranes. Each product line provides a suite of customizable solutions specifically related to each market. Additionally, the Company offers tailormade product and process development services, which cover all the project stages, including product and process design, validation, up to the mass production for large quantities. The company is active globally.
Sales Growth: GVS reported Q1 sales of EUR 107 million, up 3.2% year-on-year, but this was held back by production delays in Monterrey and a late start for the Boreas acquisition.
Profitability: EBITDA rose 6.1% to EUR 25.8 million, with the margin improving 70 basis points to 24.1%. Net income jumped by 21.6% to EUR 12 million.
M&A Impact: The partial contribution from the newly acquired Boreas (Haemonetics) business and production issues affected reported growth, but both are expected to normalize in Q2.
Guidance Affirmed: Management reaffirmed a full-year sales growth target of mid-to-high single digits, an EBITDA margin improvement of 150–250 bps, and leverage below 2 by year-end.
Order Book & Recovery: Production challenges and shipment delays are already being addressed, with management confident about recouping lost sales in Q2.
Tariffs & FX: Tariffs have minimal direct impact; most US production is unaffected. FX guidance is based on a EUR/USD of 1.10, with 75% of exposure hedged at 1.08.
