REVENUES €307 MILLION (+13.6%)
EBITDA ADJUSTED: €38.4 MILLION (+24%)
NET INCOME: €16.1 MILLION (+156%)
PROPOSED DIVIDEND: €0.25 PER SHARE (+13.6%)
Uboldo, 22 March 2019 – The Board of Directors of LU-VE S.p.A. approved the draft separate financial statements of LU-VE S.p.A. and the consolidated financial statements of the group.
For the first time, consolidated revenues exceeded the threshold of 300 million: € 306.9 (+ 13.6%; + 11.7% given the same scope of consolidation). Adjusted EBITDA reached € 38.4 million (12.5%) of sales, up approximately 24% compared to € 31.0 million in 2017 (11.5%). Net income equals € 16.1 million, approximately € 10.0 million more than in the previous year.
In June, the acquisition of 100% of the company Zyklus (Jacksonville, Texas) was completed. The operation is the culmination of a strategic project which aims at entering the world's largest refrigeration and air conditioning market: the first essential step in a medium-term plan for growth in the North American continent;
In December, a preliminary agreement was signed for the acquisition of the "Air" division of the Swedish multinational Alfa Laval, by far the most important operation in the history of the Group: it will make LU-VE the third largest world player (second in Europe) within the ventilated device sector;
The projects for doubling the Polish plant and relocating and expanding the Chinese production site have continued in compliance with deadlines and cost estimates.
The portfolio of orders reported constant growth in 2018 (as of 31 December + 11.4% compared to the previous year).