Elica 2024 Revenue: $452M, US Growth
Elica Announces 2024 Financial results
Elica, a company specializing in kitchen hoods and related products, reported its 2024 financial results, showing a decrease in revenue compared to the previous year but also indicating signs of enhancement.
The company’s revenue totaled 452.1 million euros, a 4.5% decrease from 2023. However, the report cited growth in North America, attributed to a new distribution strategy, and in Europe, from the OEM (Original Equipment Manufacturer) segment, as positive factors.
Division Performance
The Cooking division, which accounts for 78% of the company’s turnover, experienced a 3.4% decrease, aligning with a generally weak market. North America saw a 3.3% increase in this division. European demand remained soft, offset partially by a 1.4% increase in OEM sales.
The Engine division, representing 22% of turnover, saw a more meaningful reduction of 7.9%. Despite this, the company reported gaining market share in the heating sector.
Financial Highlights
Normalized EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) decreased to 31.4 million euros,down from 48.1 million euros in 2023. The EBITDA margin was 6.9%, impacted by market promotions and costs associated with growth and the conversion of the Cooking division.
The normalized EBIT (earnings Before Interest and Taxes) stood at 8.1 million euros, with a margin of 1.8%, compared to 5.1% in 2023.
The company reported the transfer of a 4.78% stake in an Indian entity for 7.7 million euros. The net result was 9.3 million euros, slightly lower than the 11.3 million euros reported in 2023, but supported by the Indian transfer.
The normalized net financial position is -46.8 million euros, a 13.2% improvement compared to 2023, attributed to the sale of the stake, efficient capital management, and reduced stock levels. The leverage ratio increased to 1.5x, up from 0.9x in 2023,due to margin pressure.
Outlook and Objectives
The company anticipates a stable market in 2025, with potential recovery signals emerging toward the end of the year.Focus will be placed on opportunities in the real estate sector, specifically new construction in North America and europe, leveraging lower interest rates.
The company’s strategy will emphasize product advancement, brand enhancement, and direct distribution. The aim is to strengthen market share in engines and OEMs while maintaining financial stability.
In the medium to long term, the company aims to exceed 500 million euros in organic revenue, with an adjusted EBIT margin above 6% and a leverage ratio below 0.5.
A dividend of 0.04 euros per share has been proposed for 2024, with payment scheduled for July 2025.
Elica Financial Results: Your Key Questions Answered
What are Elica’s 2024 Financial results?
Elica, a company known for its kitchen hoods and related products, announced its 2024 financial results on March 25, 2025. The results show a decrease in revenue compared to 2023, but also highlight positive developments in certain areas.
key Highlights:
Revenue: Totaled 452.1 million euros. This represents a 4.5% decrease compared to the previous year.
EBITDA: Normalized EBITDA stood at 31.4 million euros, down from 48.1 million euros in 2023.
Net Result: The company reported a net result of 9.3 million euros.
Dividend: A dividend of 0.04 euros per share has been proposed for 2024, wiht payment scheduled for july 2025.
what Factors Influenced Elica’s Revenue Decrease?
The 4.5% decrease in revenue from 2023 to 2024 was influenced by several market factors. However, despite this decrease, specific areas demonstrated growth.
Overall Market: The decrease aligns with a generally weak market for the Cooking division.
Geographic Growth:
North America: Experienced growth, attributed to a new distribution strategy.
Europe: Showed growth attributed to the OEM (Original Equipment Manufacturer) segment.
How Did Elica’s divisions Perform?
Elica operates in two main divisions: Cooking and Engines. Their performance varied in 2024.
Cooking Division:
Accounts for 78% of the company’s turnover.
Experienced a 3.4% decrease.
Saw a 3.3% increase in north America.
European demand remained soft, partially offset by a 1.4% increase in OEM sales.
Engine Division:
Represents 22% of turnover.
Experienced a more significant reduction of 7.9%.
Reported gaining market share in the heating sector, despite the overall decrease.
What Were the Key Financial Metrics in 2024?
Elica’s financial performance can be summarized by several key metrics, including EBITDA, EBIT, and net financial position.
Normalized EBITDA: Decreased to 31.4 million euros, with an EBITDA margin of 6.9%.Reduced from 48.1 million euros in 2023. The decrease was impacted by market promotions and costs related to growth and the conversion of the Cooking division.
Normalized EBIT: Stood at 8.1 million euros, with a margin of 1.8%. This is down from a 5.1% margin in 2023.
Net Result: The company’s net result was 9.3 million euros, slightly lower than 11.3 million euros in 2023. This was supported by the transfer of a stake in an Indian entity.
Normalized Net Financial Position: Improved by 13.2% to -46.8 million euros, due to the stake sale, capital management, and lower stock levels.
Leverage Ratio: Increased to 1.5x, up from 0.9x in 2023, due to margin pressure.
What is elica’s Outlook for 2025 and Beyond?
Elica anticipates a degree of market stabilization in 2025. It also has long-term strategic objectives centered on growth and financial discipline.
key objectives:
2025 Focus:
Anticipates a stable market.
Focus on opportunities in new construction in the real estate sector, notably in North America and Europe.
Leveraging lower interest rates.
Strategy:
Emphasize product advancement, brand enhancement, and direct distribution.
Strengthen market share in engines and OEMs while maintaining financial stability.
Medium to Long-Term Goals:
Exceed 500 million euros in organic revenue.
Achieve an adjusted EBIT margin above 6%.
* Maintain a leverage ratio below 0.5.
Summary table of Key Financial Data
| Metric | 2023 (million Euros) | 2024 (Million Euros) | Change |
| ———————————- | ——————– | ——————– | ———— |
| Revenue | - | 452.1 | -4.5% |
| Normalized EBITDA | 48.1 | 31.4 | Decrease |
| Normalized EBIT | – | 8.1 | Decrease |
| Net Result | 11.3 | 9.3 | Slight Decrease |
| normalized Net Financial Position | – | -46.8 | 13.2% Advancement |
| Leverage Ratio | 0.9x | 1.5x | Increase |