Tag Archives: Elica

Elica aims to grow in the Cooking market

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Elica is indeed making significant strides in the global cooking market with their innovative approach. The Lhov appliance is a remarkable example of their ingenuity, combining a hob, hood, and oven into a single unit1. This 3-in-1 appliance is designed to revolutionize the cooking experience with its super linear design, black glass aesthetics, and performance that is flush with kitchen units. It offers different cooking methods and areas, an intuitive touch screen, and an advanced extraction system that captures vapors and odors from both the hob and oven1.

The Virtus Multi 60 DD oven is another testament to Elica’s commitment to innovation and design, having won the “Archiproducts Design Awards 2023” in the Product & Interior Design category2. This oven features a hydrocleaning system, rotary dial operation, and a range of functions including a pizza setting, conventional grill, fan grill, and more, all within a 65-litre capacity and an energy efficiency rating of A+2.

Elica’s new positioning and brand identity reflect their evolution and ambition to be a leader in the cooking sector. With a focus on R&D and marketing activities, they aim to achieve revolutionary results in cooking appliances. The company’s investment of over 40 million Euros over three years signifies a major turning point for the brand3.

Their journey, which began with the NikolaTesla extractor hobs line in 2016, is now enhanced by cutting-edge strategies and products. Elica’s Chairman, Francesco Casoli, emphasizes the company’s historic attitude to challenge the ordinary and their goal to become a key player in the sector, offering solutions that are beautiful, functional, user-friendly, and driven by creativity, technological innovation, and design3. Their Italian know-how remains a significant value-adding factor, highly appreciated on an international scale3.

It’s clear that Elica is dedicated to providing innovative solutions that cater to the needs of modern kitchens, and their presence at Eurocucina 2024 is a showcase of their latest advancements in the cooking market.

Elica results

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Elica Spa has approved the results for the first half of 2023 – prepared in accordance with the IFRS international accounting standards. Revenues fell 12% from 290 to 254.5 million. EBITDA has also fallen in line, which continues to represent almost 10% of turnover. Preserving gross margins has been an important success for the group, achieved thanks to strategic initiatives implemented in recent years, such as constant cost control, flexibility deriving from the new production footprint and the “Supply Chain Finance Solution” project for better management of circulating. Margin expansion, with a significant increase of 80 basis points between the prior first and second quarters, confirms the commitment to sustained profitability and operational excellence.Profit fell 38% from nearly $14 million to $8.5 million The Cooking division, which represents 76% of total turnover, recorded a drop of -15%. Also in the second quarter, own brand production partially compensated for a strong reduction in demand in the OEM area

The Engines division, which represents 24% of total turnover, shows the first signs of a slowdown, showing a slight contraction in sales equal to -2.8%. The “ heating ” and “ ventilation ” areas , and in particular the heat pump segment, continue to represent segments with high profitability and significant diversification opportunities. Sales in EMEA, which represents 80% of total revenues, recorded a decrease of -10.9%, thus aligning Elica’s performance with that of the market.

“In a difficult macroeconomic context, the whole group has demonstrated its ability to face challenges with great speed, managing to defend margins and not slow down on strategic projects. We will also face the next few months with the usual passion, being ready to accelerate when the recovery occurs. I am sure that the team, the completion path of the cooking product range and the opportunities of the engine division will support growth in the long term and will continue to create value for shareholders and our stakeholders” . declared Francesco Casoli

Elica Results

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Elica BoD approves the Q1 2023 results. “Despite a significant market decline, we are pleased to report results in line with expectations. Our approach has been focused on the long-term value, allowing us to defend margins in a market with low volumes and significant inflation. Additionally, we have continued our transformation and expanded our offerings to become more Cooking. In this environment, the “Own Brand” business is performing better than the market and our “Motors Division” continued to grow. Although the year ahead may be challenging, we are confident that we will come out even stronger and well prepared for the future.” commented – Giulio Cocci Elica CEO.

Elica partnership with Ilve

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Elica Spa announced Tuesday that it has entered into a strategic partnership with Ilve that will allow the company to grow in the world of home cooking by also marketing induction ovens and hobs.

Ilve is an Italian company specializing in cooking systems that “has distinguished itself over the years for its vocation for innovation and technical wisdom in steel processing, combined with continuous research in the field of processes and technologies. Together with Ilve, Elica will espouse a philosophy of transition to new markets that will bring both companies and expand their business,” said Elica.

Elica’s stock is up 1.4 percent at EUR2.86 per share

Elica presents the 2022 Sustainability Report

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Elica spa has published the 2022 edition of the Sustainability Report under the slogan “Aspira, Inspira” which represents the ability to continuously imagine innovative and sustainable solutions for the future because every great idea, just like every great company, is born from an inspiration . Improving air quality has always been the starting point. Inspiring people and your target market is the next step.
Despite the difficult context, Elica achieved particularly challenging goals in 2022, breaking its own records for the second consecutive year. The consolidation of its global leadership was made possible by excellent management and financial performance and by a strategic “Sustainability Roadmap” based on three pillars: production and products with low environmental impact, people and governance.
During 2022, the Group used 100% renewable energy in almost all of its production sites in Italy and Poland. This policy has been accompanied by some energy efficiency projects which have contributed to further limiting our carbon footprint.

Elica record sale’s

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Elica BoD approves the preliminary FY 2022 results.
Second Record Year in a row in terms of sales, EBIT margin, and net profit, despite the most adverse inflationary, demand, and geopolitical scenario of the last decades.
The company was able to improve margins versus last year, despite ~60 million of cost inflation, thanks to the business model flexibility and the agile execution of our turnaround projects.
Looking forward to 2023, it will be an even more challenging year, but we have a clear strategy for both the Cooking and Motor Divisions in terms of products, customers, and regional distribution.

Elica success story

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Elica is today the global leader in the sector of kitchen extractor hoods. They have managed to record numbers

Elica has achieved the right mix of financial soundness and Italian design & innovation soul:

✔️ we are expecting to close 2022 with incremental revenues and margin, in spite of inflation, geopolitical tensions and weak demand,

✔️ Elica are back to a sustainable long term dividend distribution plan aimed at preserving strategic investments and external growth,

✔️ looking for new M&A or joint venture opportunities to grow their cooking business,

✔️ Elica are leading the ecological transition in the HVAC industry with their BU Motors EMC FIME (representing 25% of the Group’s turnover, with a 30% growth rate).

Year after year, Elica have been expanding our value proposition and increasing their innovation rate, proving vision and resilience even in uncertain times.

Elica design award

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HOB, HOOD AND OVEN IN ONE SINGLE APPLIANCE:
COOKING HAS BEEN RESHAPED

Elica wins ‘Archiproducts Design Awards 2022’ in the “Kitchen” category with LHOV. An award that recognises excellence in the creativity, research and innovation of the new Elica product that integrates hob, hood and a revolutionary extractor oven.

LHOV is Elica’s brand-new product that integrates hob, hood and a revolutionary extractor oven in one.
A single unit that maintains and enhances the smooth lines of your kitchen, equipped with an extraction system that eliminates vapours and odours; not only from the hob but from the oven as well.

ELICA CELEBRATES THE TWENTIETH ANNIVERSARY OF ITS JOINT VENTURE IN JAPAN

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Elica and Fuji Industrial commemorate 20 years of collaboration
with an event at the Italian Culture Institute in Tokyo.
One of the longest running relationships between Italy and Japan,
that goes beyond business.

has contributed to revolutionize the classic style of the , 24 November 2022 – Elica, world leading company in the production of
kitchen ventilation systems, celebrates the twentieth anniversary of Ariafina. The
brand born in Japan as a result of the joint venture with Fuji Industrial, Japanese leader
in the production of kitchen hoods.
To mark the celebration, an event promoted by the Ermanno Casoli Foundation in
collaboration with the two companies will be held today at the Italian Culture Institute
in Tokyo, where “Iride”, a work of art by the Italian artist Gianluca Malgeri, made in
honor of this anniversary, will be presented. Once again it will demonstrate the
importance of art and culture that has led Elica to bring forth successful paths, even
beyond national borders.
The venue chosen to celebrate this important anniversary was not accidental: The
Italian Culture Institute in Tokyo is an institution committed to spread our country’s
history and culture, as well as to promote Italian creativity in Japan. The building where
the Institute is based, designed by Gae Aulenti, is one of the most significant symbols
of the strong relationship between the two nations. Moreover, the Ariafina joint
venture, combining the beauty of Italian design with the flawless functionality of
Japanese industrial tradition, is an excellent example of how two seemingly distant
worlds are able to communicate, also thanks to the universal language of art.

This collaboration dates back to the beginning of the 2000’s, a period in which Elica,
undergoing a moment of significant expansion, decided to broaden its horizons by
looking towards Japan: a highly industrialized country, where the cooperation with a
local partner was necessary to work there. Hence the decision of the joint-venture
with Fuji Industrial, indisputable leader in the Japanese kitchen hood sector with a
market share of over 50 percent Ariafina Co Ltd was established from the partnership between the two companies, with
the aim of operating in the high-end market segment: a top-level market niche that
did not exist in the Japanese hood sector at the time.
Over the years, Ariafina has contributed to revolutionize the classic style of the
Japanese kitchen, which had always been small and barely visible in the house. Thus,
establishing itself today as a well-known brand able to combine the quality of Italian
design with the avant-garde of Japanese technology.

Elica, the financial results

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Elica grows thanks to Nikolatesla and engines
The success of the new hob and motors compensates for the weakness of OEM demand and allows us to forecast a positive year end in terms of turnover and margins.

The success of the new hob and motors compensates for the weakness of OEM demand and allows us to forecast a positive year end in terms of turnover and margins.
Web editing by Web Editor 30 October 2022

Elica grows thanks to Nikolatesla and engines
Giulio Cocci_ Chief Executive Officer of Elica SpA
Elica spa grows despite the “significant slowdown in demand”. In the first 9 months of 2022, revenues increased by 3% to 419 million euros and the EBIT margin increased by 2.8% to 25.6 million (6% of turnover) obtained despite increases of 50 million in costs. The net result is therefore close to 16 million: this is 32% more than in the corresponding period of 2021.
The engines fly and the NikolaTesla range grows
Sales of own brands are growing (+ 6%) and the motors segment is flying (+ 22% to 95 million) driven, in particular by the heating segment and by the consolidation of EMC and CPS, now merged into EMC Fime srl, acquired on 2 July 2021, which contributed € 19 million in the first nine months of 2022.

In the cooking segment, the decline in OEM demand was offset by the growth of NikolaTesla cooker hobs which today represent around 16% of the Cooking turnover and recorded a CAGR of + 40% compared to the first nine months of 2020.