FY 2022 Financial Highlights
Elica grows in a negative market and strengthens margins and profit, despite 60 million cost inflation: Adj Ebit at euro 33.0 million (+2.4%)
Own brand sales saw organic growth of +9.5% on 2021, accounting for 58% in 2022 in the Cooking segment. This was mainly due to ongoing growth across all strategic product families. The NikolaTesla aspiration hobs range, which now accounts for approx. 16% of Cooking revenue, grew 24% on 2021. OEM revenues followed a different trajectory, down -12.9% (-16.5% at constant scope and exchange rates) on the previous year due to destocking measures and a sudden slump in demand in the latter part of the year. Despite the uncertain macroeconomic environment, organic own brand sales growth offset the drop in OEM demand and protected profitability.
The Motors segment, accounting for 23.0% of total revenue, reported double-digit growth at +42.3% (+20.9% at constant scope and exchange rates), confirming the Group’s electric motors and fans leadership. The growth of the segment was driven, in particular by the heating area and by the consolidation of E.M.C. and CPS, now merged into EMC Fime s.r.l., acquired at the beginning of July 2021.
