During 2017, the Italian company o kitchen hoods Elica totalized a revenue of 479.3 million euro, up 9.1%, and profit of 1.4 million euro, up 125.3%.
In the fourth quarter of 2017, the Group consolidated revenue amounted to 121.6 million euro – an increase of 2.8% on the same period of the previous year and of 6.1% at like-for-like consolidation scope. Global range hood demand continued to grow (+3.1%) in the fourth quarter of 2017. Demand has been sustained principally by the Asian market (+2.7% in Q4 2017), the development of Eastern European demand – featuring Turkish and Russian market growth – and in Western Europe by growing demand in France. Growth slowed in North America on the first half of the year (+3.5% in Q4 2017), while Latin America in the fourth quarter of 2017 saw a decisive turnaround with growth of 1.6%. The Group revenue growth was driven – again in the fourth quarter – by own brand product sales (up 13.2%6), with the Elica brand performing very strongly and reporting in the fourth quarter of 2017 a 17.8%7 improvement on the same period of 2016.
The fourth quarter results also therefore reflect the effective implementation of the Strategic Plan, which throughout 2017 brought dedicated investment and spending.
«Elica – commented the Chairman Francesco Casoli – is bigger and stronger than ever, as apparent in the numbers and the business itself. Increased Elica brand sales and market share, growth across all regions and greater than expected value creation, are indicative of an appropriate strategy and one which is paying off. In 2018, we shall impress the market with highly original products which respond to consumer demands or indeed anticipate them. Onwards we go!»