MILAN, Sep 27 (Class Editori) — Lu-Ve goes under Euronext STAR Segment on the Italian Stock Exchange. The change was presented during Investor Day in Milan. In the seven years since the listing (in 2015 on Aim, which is now Euronext Growth Milan), the company has almost tripled its revenues, reaching 583 million euros in the financial year ending in June 2022, and increased its capitalization by 2.5 times, according to a note.
Part of the expansion regards China. In 2020, the Group led by the Liberali family started its production in a new plant in Tianmen, in the Hubei province. Production processes use 15,000 square meters out of a total of 19,000 square meters (double the size of the previous site in Changshu). An additional expansion of the plant by another 10,000 square meters has been in the plans from 2021.
Throughout these years, the company has grown steadily, both organically and through external lines, finalizing four strategic acquisitions and operating 19 production facilities in 9 countries, including the US, India and China as well as in Europe. In the first six months of 2022, it posted record sales growth (+39.9%) to 318.4 million euros, despite an uncertain and complex economic environment, with adjusted EBITDA growth of 61.5%.
"When I founded the company in 1985, I called it Lu-Ve, which stands for LUcky VEnture. In our 37-year history, we have been a Lucky Business: we have multiplied almost 60 times. Those who believed in us when we listed in 2015 are Lucky Investors. I am grateful to them for their trust in us," Chairman Iginio Liberali stated. "Listing on the stock exchange," he added, "has allowed us to greatly accelerate our development plans. In these seven years we have multiplied three times. For us, the move to the STAR Segment is a source of pride and a prestigious achievement. It is another opportunity for us to grow and improve our traditional ability to innovate processes and products".
(Source:Class Editori)
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