18/03/20

LU-VE: ACQUISITIONS AND “GREEN” PRODUCTS PUSH UP TURNOVER (+ 27.6%) AND ADJUSTED NET PROFIT (+ 38.2%)

Uboldo (Va) 18.3.20 - The Board of Directors of LU-VE S.p.A. examined and approved the draft financial statements and consolidated financial statements as at 31 December 2019:

• 2019 consolidated turnover: € 391.6 million (+ 27.6% compared to 31.12.18);
• Adjusted net profit: € 22.8 million (+ 38.2%);
• Record cash flow generation: € 37.9 million;
• Adjusted EBITDA: € 51.7 million (+ 34.5%);
• Proposed dividend increase to € 0.27 per share (+ 8.0%);
• Approval of the plan to purchase treasury shares up to a maximum of 10% of the share capital.

The Group has also decided to donate € 300,000 to support the fight against coronavirus. The definition of the recipients of the donation will be defined by a special ad hoc committee.

The President Mr. Iginio Liberali said: “In the last ten years, organic growth and acquisitions have made LU-VE the third largest player in the ventilated appliance segment. Our ability to innovate with cutting-edge technological solutions and our ability to hybridize different high-level cultures are the driving forces and the greatest competitive advantage expressed by our collaborators. My first thanks go to all the people of the LU-VE Group for the commitment shown in this last year. But above all I would like to thank those who, in these difficult days, have stayed at their workplace, with a sense of sacrifice and responsibility, to ensure production continuity. I am sure that, once again, in difficulties we will be able to express the very best of ourselves with passion, commitment, courage and determination".

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