STRONG PERFORMANCE IN 2024:

• EBITDA HITS RECORD HIGH DESPITE SLIGHT SALES DIP
• NET PROFIT UP 14.2%

Uboldo (Varese), 13 March 2025 – The Board of Directors of LU-VE S.p.A. approved the consolidated financial report as at 31 December 2024:

•    Sales of €589.1 million (-4.6% compared to 2023) mainly due to volume decrease.
•    New EBITDA record at €82.5 million or 14.0% of sales (+4.7%).
•    Net profit at €35.8 million (+14.2%).
•    Order backlog at €174.2 million (+11.5%).
•    As at 31 December 2024, the net financial position amounted to €97.5 million, an improvement of €28.8 million compared to December 2023.

The Board of Directors proposed a dividend of € 0.42 per share.

Matteo Liberali, Chairman and CEO of LU-VE Group declared: “Despite a modest decline in sales, we recorded a solid financial performance. The Group achieved record EBITDA, the result of operational efficiency, disciplined cost management and strategic investments. Looking to the future, we will focus on revenue growth, relying on a resilient business model that envisages the diversification of product applications, in sectors with uncorrelated trends, supported by factors such as electrification, decarbonisation, digitisation and the adoption of natural refrigerants with low or zero environmental impact. We were the first to seize many of these key technological developments, strengthening our competitive advantage for long-term growth. The full potential of our strategy will be realised when the two new plants in China and the USA are fully operational, enabling us to strengthen LU-VE’s presence in key global markets. We are aiming for long-term growth, strengthened by the dedication and commitment of all the women and men who work in the Group, to whom I would like to express my thanks”.