13/10/22

LU-VE Group: sales growth + 29.6% continues in the first nine months of 2022

Medium-term value creation framework confirmed.

Uboldo (Varese), 13 October 2022 – LU-VE Group announces the highlights results as of 30 September 2022:

• turnover of products € 456.7 million (+29.6% compared to 30 September 2021); on a like-for-like basis, product sales grew by 27.1%.

• order book € 196.4 million (+ 27.6% compared to 30 September 2021); on a like-for-like basis, the order book change is 15.7%.

Based on the current scenario and its Q3 results, LU-VE Group confirms its medium-term value creation framework, in view of the positive secular trends that has characterized the sectors in which LUVE operates over the past years:

• High Single Digit average growth in sales (organic).
• EBITDA margin toward 14/15% thanks to scale and efficiency capex.
• NWC on sales: Mid Double Digit (net of extraordinary fluctuations).
• growth capex: € 20/30 m per annum.
• average tax rate: 20-21% net of extraordinary fluctuations.

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The Manager responsible for preparing the financial reporting, Eligio Macchi, declares, pursuant to Art. 154-bis, paragraph 2 of the Consolidated Law on Finance, that the accounting disclosure contained in this press release corresponds to the results of the accounting documents, books and entries. 

This document contains forward-looking statements relating to future events and future operating, economic and financial results of the LU-VE group. By their nature, forward-looking statements involve risk and uncertainty because they depend on the occurrence of future events and circumstances. Actual results may therefore differ materially from those forecast as a result of a variety of reasons, most of which are beyond the LU-VE group’s control.