Italian design brands, revenue increased by 30.8%

The Board of Directors of Italian Design Brands (IDB), the Italian hub for high quality furniture and design, has approved the financial statements for 2021. The IDB Group currently consists of eight companies and operates in three strategic business areas: l ‘ASA “Furniture”, interior and exterior furniture, with Gervasoni, Meridiani and Saba Italia; ASA “Lighting”, the lighting market, with Davide Groppi, Flexalighting and Axolight; ASA “Luxury Contract”, tailor-made furniture for the world of high-end retail, hospitality and housing, with Cenacchi International and Modar.

Overall, the group recorded consolidated revenue of 144.2 million (an increase of 30.8% compared to 110.2 million in 2020), with an export value of 73% generated in over 110 countries worldwide, including key benchmark markets for the sector such as North America, France, Germany, Switzerland and Austria. The Italian market has, in line with what has already been experienced in 2020, generated significant growth for the group, confirming the centrality of the home’s role in Italian life and the market’s greater cultural propensity for homely coziness and attention to comfort and functionality in residential environments. .

In terms of profitability, EBITDA was DKK 22.8 million. (an increase of 50.6% compared to 15.2 million in 2020) with a percentage of 15.8% of revenue due to the effect of significant growth in volumes and various initiatives in the field to increase production companies’ efficiency . In light of the results achieved, 2021 ended with a consolidated net result of DKK 11.4 million. (an increase of 29.3% compared to 8.8 million in 2020), an absolute record for the Group both in absolute numbers and in percentages.

The Group’s financial situation is confirmed as excellent, with a net bank financial position close to zero at the end of 2021, the result of liquidity generation for the year of € 15.5 million.

After the record year, recorded in 2019, and a 2020 in which the group showed good resilience in response to the closures and contextual difficulties dictated by the pandemic, 2021 was a year of great acceleration for the furniture and lighting areas, which they set a new historical record. by outperforming their respective reference markets.

According to the results of the FederlegnoArredo Study Center, the furniture system in Italy recorded an average growth of around 25.3% compared to 2020 and 15.6% compared to 2019. ASA Furniture IDB ended the year with consolidated revenue of € 84.7 million, an increase of 34 , 3% compared to 2020 and 24.4% compared to 2019.

Similarly, IDB’s ASA Lighting outperformed the market with a consolidated turnover of around € 21 million, an increase of 40.3% over 2020 and 33.2% over 2019. The results of the FederlegnoArredo Study Center, according to which the Italian lighting sector grew by 17% compared to 2019. to 2020, but has not yet recovered the pre-pandemic levels, registering a -1.4% compared to 2019.

ASA The luxury contract IDB ended the year 2021 with a consolidated turnover of 38.3 million euros (an increase of 19% compared to 2020). Following the sharp slowdown in 2020 due to delays in orders and the closure of key outlet markets, the ASA luxury contract is most affected by the prolongation of the pandemic context, and in 2021 it benefited from a recovery that is still only partially compared with 2019 effect of the sector naturally longer time. At the same time, there is a tendency for a marked recovery from the last quarter of 2021 and during the first months of 2022, which will generate greater growth in revenue this year.

The Group’s positive trend is also confirmed in the first quarter of 2022, when IDB registered a progressive revenue growth of + 38% compared with the first quarter of 2021 and an order book that grew by 41% y / y. The increase in energy and raw material costs, registered from the second half of 2021, has so far had a limited impact on IDB’s business. The production model, which strengthens a network of local suppliers, has enabled the Group’s companies to continue their activities, while maintaining a sufficient level of service and without being affected by significant effects on revenue development, also thanks to a timely adjustment of list prices. All this in the presence of a demand that continues to grow and given that the group is slightly exposed to the markets that are most affected by the current geopolitical situation.

“2021 was a year of great momentum for the group – says Andrea Sasso, Chairman and CEO of IDB – The restrictions in the years of the pandemic have led to greater awareness of the home environment, which has resulted in an important boost to the purchase of new furniture and lighting products. , with double-digit growth rates even compared to 2019, which was a record year for IDB. We are also implementing several initiatives on the ESG front, and in the coming months we will publish the first Group Sustainability Report, which refers to the year 2021. At the same time, according to the nature of the IDB model, we will continue our research and selection of new expertise companies from industries, with a focus on entrepreneurs who share our vision, and which can increase the value of the group: we have several contacts underway and we hope to be able to close at least one new company within the year “.

“The goodness of the business model that we have pursued since its founding today more than ever is bearing fruit – says Giorgio Gobbi, CEO of IDB – 2022 has started with a big drive for all companies in the group, with a portfolio order in continuous growth , which enables us to anticipate an end to the first half of the year with excellent results. As an IDB, we continue to support the organizational development of corporate teams, as well as invest in education and digitalisation to enable each reality to pursue an increasingly effective path of development, in line with its needs and able to fully grasp the trends and opportunities we see on m the arcade “.

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