Record EBITDA and growing order backlog

Uboldo (Varese), 5 September 2024 – Consolidated half-yearly financial report as of 30 June 2024 is approved.

In the first half of 2024 the Group achieved:

• €296.4 million in turnover (-7.5% vs H1-23)
• €170.9 million in order backlog (+9.4% vs December 2023)
• €43.0 million EBITDA (+2.7% vs H1-23, 14.5% on sales)
• €20.1 million net profit (+5.2% vs H1-23, 6.8% on sales)

As of June 30, 2024, the net financial position improved by €41.3 million reaching €118.9 million (compared to €160.2 million as of June 2023) thanks to operating profitability and tight control of net working capital. Improvement also in comparison to December 31, 2023 (€126.3 million).

LU-VE S.p.A.’s Board of Directors, which met today, reviewed and approved the consolidated financial report as of 30 June 2024.

“The general context is characterized by high volatility and the weakness of certain markets, which have impacted our turnover. However, the results of the first half of 2024 are highly satisfactory, with the achievement of a record EBITDA in the Group’s history, a 26% vs June 30, 2023 reduction in the net financial position, and growth in the order book. – said Matteo Liberali, Chairman and CEO of LU-VE Group – Our focus is on the future, thanks to the work done over the recent months: the reorganization of the new international structure, entry into new markets and the diversification of our product applications in sectors with uncorrelated trends. My confidence in the future, however, stems primarily from the constant commitment and passion of all the people working in the Group. To them, I extend my thanks.”