Sorin outlines strategy to boost profitability
This article was originally published in Clinica
A broad strategy to improve profitability drawn up by Sorin's new CEO, Drago Cerchiari, has been approved by the Italian cardiovascular device group's board of directors. The aim is to almost double EBITDA (earnings before interest, tax, depreciation and amortisation) to 20% of revenues by 2008. In 2003 EBITDA declined to 11.4%, or Euros81.5m ($103m), from 14.7% in 2002.