(Tiper Stock Exchange) – Ariston Grouplisted on Euronext Milan and active in renewable and high-efficiency solutions for water and space heating, closed the first semester 2023 with Net revenues at 1,526 million euros, an overall increase of 34.5% compared to the first half of 2022 (+5.2% pro forma), a Adjusted EBIT equal to 153 million euros, up by 61.9% compared to the first half of 2022, and a Net income to 102 million euros, with an increase of 53.7% compared to the first half of 2022.
“The first 6 months of 2023 confirm the strength of our strategy. In Germany – our largest market this year – we have recorded very strong growth for both Wolf and Elco, while in Italy – one of our main driving forces growth in 2022 – demand has not yet recovered. The consolidated results show a significant increase in revenues, accompanied by an even more significant improvement in profitability”, he commented Paul Merloniexecutive chairman.
The free cash flow settled at -39 million euros, against -63 million euros in the first half of 2022. The net financial position (debt) is 703 million euros, following the disbursement for the acquisition of Wolf-Brink (formerly CENTROTEC Climate Systems), dividend payment, and seasonal increase in working capital.
The Board of Directors, acknowledging the results of the Extraordinary General Meeting of 27 July, thanked Laurent Jacquemin for his role as Chief Executive Officer up to that date and proceeded with the appointment of Maurizio Brusadelli as Chief Executive Officer, with immediate effect.
“I am excited to start my experience in Ariston Group as new CEO and honored by the trust expressed by the Board of Directors. I have the opportunity to build on a solid foundation – made up of history, strong values, cutting-edge technologies, renowned brands and talented talents – and I am thrilled to work with Paolo, the management and all Ariston Group people around the world to seize fully the opportunities that our sector – at the heart of the energy transition – will be able to take advantage of”, said Brusadelli.