EuroGroup Laminations travels towards the billion mark in revenues. The colossus of Baranzate, which landed in Piazza Affari last February, active in the design and production of stators and rotors for electric motors and generators, closed its first three months of 2023 with double-digit growth in revenues (+20,2%) and margins (+42%). If the present is rosy, so is the future: by 2023 the group expects to reach one billion in revenues.
“We are very pleased to present to the financial community the excellent results achieved in the first three months of 2023 in a macroeconomic context that remains uncertain. We are reliable partners of the most important international automotive groups and together with them we are contributing to the transition towards electrification in a sustainable and responsible way”, he commented. Marco Arduini, CEO of EuroGroup Laminations.
It moves fractionally upwards title of EuroGroup Laminations (+0,6%) in Milan.
Results for the first quarter of 2023
The order book of the EV&Automotive segment of approximately 6,1 billion euros, in 2022 EuroGroup Laminations achieved revenues of approximately 851 million euros. In the first quarter of 2023, i revenues amounted to 229,8 million, an increase of 20,2% compared to the same period of 2022 (191,2 million). The EV&Automotive segment totaled record revenues of €116,4 million, with growth of 108,4% compared to the same period of 2022 (€55,9 million), mainly due to an increase in volumes linked to the growing demand for traction products IV. The Industrial segment, on the other hand, recorded total revenues of 113,4 million, compared to 135,3 million in the same period of 2022. Also in terms of margins, the group closed the first three months of the year with an improvement compared to the same period of 2022. TheEbitda stood at 27,0 million, +42% compared to the first quarter of the previous year (19 million), bringing the Ebitda/Revenues ratio to 11,8% compared to 10% in the first three months of 2022, despite two important projects being ramped up in North America.
From a geographical point of view, the revenues of the area EMEA are equal to 138,4 million, an increase of 20,4%, those of the area North America equal to 82,8 million, an increase of 24,7%, in both cases mainly due to the effect of the increase in volumes driven by strong demand in the EV&Automotive sector. The revenues of the area Asia they amounted to 8,6 million (9,9 million in the first three months of 2022), a reduction mainly due to the Industrial segment and the "zero Covid" strategy that impacted China in the first part of the quarter.
2023 guidance approved
Based on the order book, EuroGroup Laminations has also approved the 2023 guidance which foresees a target of estimated revenues between 980 million and one billion euros, Ebitda between 122-126 million euros, Capex at around 95 million euros and a net working capital between 170-180 million euros.
