LU-VE Group says organic growth and acquisitions helped it to significant increases in turnover and net profit in 2019, as it announced that it will donate €300,000 to aid the fight against coronavirus.
Consolidated turnover grew by 27.6% € 391.6 million in the year to December 31, while adjusted net profit rose by 38.2% to € 22.8 million.
Group President Iginio Liberali said: “In the last 10 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."