RECORD €88.7M ADJUSTED EBITDA (14.7%),
STRONG CASH FLOW, ORDER BOOK +34%

Integrated Annual Report as at 31 December 2025 approved

In 2025 the Group achieved:

• turnover of €605.4 million (+2.8% compared to 2024, +10.2% in Q4/2025), mainly due to increased volumes.
• new record adjusted EBITDA of €88.7 million or 14.7% of turnover (+7.5%).
• Group net income adjusted €42.1 million (+12.6%).
• order book as at 31 December 2025 of €233.7 million (+34.2% on December 2024).

As at 31 December 2025, the net financial position amounted to €72.7 million, an improvement of €24.8 million on December 2024.

A dividend of EUR 0.47 per share has been proposed.

Uboldo (Varese), 13 March 2026 – The Board of Directors of LU-VE S.p.A., at its meeting today, has reviewed and approved the Integrated Annual Report as at 31 December 2025.

“In 2025, we achieved the return to growth anticipated a year ago, thanks to the recovery in the second half of the year and, in particular, the strong acceleration in the fourth quarter (+10.2%) We once again achieved record profitability, with an adjusted EBITDA of 14.7% of revenue. The orders portfolio also performed very well, with a 34.2% increase compared to 2024.” – stated Matteo Liberali, Chairman and CEO of LUVE – “In 2026, we expect to make further progress towards our medium- to long-term objectives. We expect growth to be driven primarily by the “power generation” data centre markets as well as the further recovery of heat pumps, these are all areas in which LUVE continues to strengthen its positioning through advanced and energy-efficient solutions. On the occasion of our 40th anniversary, we also presented the new LUVE logo, which stems from a profound awareness: over the years, we have not only followed the evolution of our sector, but we have helped to shape it, and this is what we will continue to do. Finally, I would like to emphasise that our true strength lies in the people of LUVE, in their tenacity, ability and dedication. My thanks go to them.”

Read the complete press release on the investors website: LUVE LEADERSHIP WITH PASSION