CAREL: revenues up 29.6%

The CAREL Industries S.p.A. Board of Directors has approved the consolidated results as of 31 December 2022. Consolidated revenues came to € 544.9 million, with an increase of 29.6% compared to 2021 (+26.5% at constant exchange rates).
 
Francesco Nalini commented: "In a scenario as complex as the one of the last three years, the Group expressed all its ability to adapt to unexpected situations and sudden changes. The year 2022 ends with record breaking consolidated revenue growth close to 30% (+18% organic), which is even more significant when added to the +27% recorded in 2021; this result, also thanks to the operating leverage factor, was reflected in the profitability, understood as EBITDA as a percentage of revenue (EBITDA margin), which stood at 20.5%, slightly higher than the previous year.
The year 2022 was therefore a complex but rewarding year and marks a substantial doubling of the size of CAREL compared to 2018, the year of listing. In less than a five-year period, we have succeeded in becoming bigger, more resilient, efficient and sustainable, and can therefore proudly celebrate our first 50 years! In 2023, in fact, CAREL will turn half a century old, half a century of innovation, development and growth. Half a century that does not represent a point of arrival but a starting point to take up and win the challenges of tomorrow."