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.