Elica, the financial results

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.