Elica closed the first quarter 2017 with revenue of 118.5 million euro compared to 103.3 million in 2016, a growth of 14.7%. Adjusted EBITDA was equal to 9.0 million euro, signing an increase by 25.7%, while EBIT reached 3.6 million euro, up 38.8% and adjusted Profit 1.1 million euro (+25.6%). For the next two years, the Italian company, specialist in the production of high-end kitchen hoods, forecasts a substantial increase in revenue driven by Cooking segment own brand growth, together with growing revenue from the Motors segment. Motors segment development will be driven by the additional revenues generated by new models and the accompanying higher margins. Strongest revenue growth is expected from the EMEA and the Americas regions. Elica explains that the good trend will be supported by a revolutionary Group digitalization project. The Plan develops business through a series of measures to increase the consolidated margin, centered on improved production efficiency through a further focus on World Class Manufacturing activities and greater leveraging of technology alongside standardization – while also converting the changes to the energy labeling regulation into an opportunity.
For 2017-2019 three-year period Elica Group estimates: a 2017-2019 CAGR16 of Net consolidated revenue of 6.8%, of adjusted EBITDA of 12.6%, of adjusted EBIT of 14.3%, a Net Financial Debt at year-end 2019 of Euro 73 million and a return of 10.4% in 2019, in terms of the Return On Net Capital Employed.
