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Q1 2025 Financial Highlights

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Positive signals emerge in Q1 2025: return to growth both of Cooking and Motors divisions against generally uncertain market backdrop

”The Q1 results are encouraging, despite the still uncertain market environment. Both divisions have returned to growth: the Cooking division thanks to the excellent North America performance, and the Motors division thanks to the increased market share. We continue with determination to pursue this transformation and to develop new projects, fully aware that this may weigh on margins in the short term, but confident in the strength of our financial position and in our medium-term vision. We still have complex months ahead, although the early positive signs confirm the strength of our strategy. We therefore continue to invest in direct distribution, in Europe and North America, where we have recently expanded our direct presence also to the North-East of the United States”. stated Giulio Cocci, Chief Executive Officer of Elica.



 
Q1 2025 Financial Highlights
118.8 M€
Consolidated Revenue
The positive trend, which follows ten consecutive quarters of decline, stems from the growth in North America, driven by the success of the direct distribution strategy. In EMEA however, both Cooking and Motors division demand remains weak.
1.1 M€
Adjusted EBIT
Margin on revenues of 0.9% (1.5% in Q1 2024). Investments to support the Cooking transformation project continued to have a significant impact on the first quarter of 2025.
-0.5 M€
Adjusted Net Profit
Euro 0.4 million in Q1 2024. Financial expenses at Euro -1.5 million compared with Euro -1.7 million in the same period of the previous year. The movement is related both to currency movements and a slight reduction in financial expense.
Performance
By Business Area
The Cooking division, which accounts for approximately 77% of total revenues, reported a slight increase in sales to Euro 91.2 million (Euro 90.4 million in Q1 2024)

The OEM business reported a good performance for the first three months (+2.2% vs Q1 2024), thanks to the entry of new customers and the substantially stable Own Brand performance (+0.1% vs Q1 2024). The Americas reports an increase of 6.6% on the same quarter of 2024. In particular, B2C sales were up 27%, thanks to the distribution strategy introduced to the region, with new product launches and a broader range of products. This resulted in the entry of new customers in North America, a consolidation of the presence in the region of the two new own brand distribution companies: AG International and Southeast Appliance (SEA) and production in Mexico of new induction and aspiration cooktops.

The Motors division, which represents approximately 23% of total revenues, was up 2.9% to Euro 27.6 million (Euro 26.8 million in Q1 2024)

The positive sales performance in the quarter was mainly due to the increased market share on the principal accounts which drove both the heating and ventilation segments.

Analysts Presentation Q1 2025 Results click. 
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Analysts Consensus May 2025