Strong performance in 2023 mirrors 2022 amid macroeconomic and regulatory shifts

In the first nine months of 2023, the group achieved:

• product sales of 460 million euros, up 0.7 percent from the same period in 2022
• order backlog of 172 million euros, a decrease of 12.4 percent adjusted
• EBITDA of 62.5 million euros, or 13.5 percent with a growth of 0.8 percent
• net income – adjusted for revenues and extraordinary costs – of 32 million euros in line with the 2022 result.

The net financial position as of September 30, 2023, amounted to 167.6 million euros, an improvement of 3.7 million euros compared to the same date in 2022.

Uboldo (Varese), 13 November 2023 – The Board of Directors of LU-VE S.p.A. (‘LUVE’ or the ‘Company’), which met today, has approved the results as of 30 September 2023.

“The increase in product turnover in the first 9 months of 2023 is incorporated in a trend in Group sales that, since 2018, has recorded significant growth, despite macroeconomic turbulences. This is an extremely satisfying result, also because it comes following the record, we reached in 2022. – declared Matteo Liberali, President and CEO of LU-VE Group – This result confirms the effectiveness of the strategy pursued in our business model, thanks to the diversification of the applications of products in sectors with uncorrelated trends. This result also confirms the dedication and commitment of all our collaborators. My thanks go to them.”