Lu-Ve sales increase 27.6% in 2019 to €391.6m

ITALY: Commercial and industrial refrigeration equipment manufacturer Lu-Ve has announced a consolidated turnover of €391.6m in 2019, a 27.6% increase on the previous year.

Net profit was up 38.2% at €22.8m and adjusted EBITDA increased by 34.5% to €51.7m.

With the Group also announcing a €300,000 to support the fight against coronavirus, president 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.”

The results include the acquisitions of Zyklus Heat Transfer in July 2018, and the AL Air division acquisition in May 2019.