LU-VE profits up 6.7%

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16 September 2020
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LU-VE Group says green technology and diversification helped reduce the impact of the Covid-19 pandemic, as it reported a net profit of €6 million for the first half of the year, an increase of 6.7%. Turnover was €194.8 million, up by 4.3%.

LU-VE Group says green technology and diversification helped reduce the impact of the Covid-19 pandemic, as it reported a net profit of €6 million for the first half of the year, an increase of 6.7%. Turnover was €194.8 million, up by 4.3%.

In June 2020, the net financial position was €126.2 million, an improvement of 16.8% compared to June 2019, thanks to an adjusted net cash generation in the 12 months of €29.7 million (up by 16.5% compared to the result in June 2019).

LU-VE Group President Iginio Liberali said: “The first half of 2020 ended with positive data. I thank the women and men of LU-VE Group, who reacted promptly, with a sense of sacrifice and the ability to adapt, to ensure everyone's health and production continuity.

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"The good results of the first part of the year derive from our long-term growth strategy, based on geographic and product diversification, investments in R&D and targeted acquisitions. The future macroeconomic scenario remains uncertain and it is difficult to predict. However, I am sure that the strength demonstrated by the managers and all the Group collaborators will enable us to pursue our objectives of medium and long-term growth in volumes and profitability.”