It''s a European leader in refrigeration and AC equipment and components and well positioned to expand geographically, build up margins and ride green regulation through the coming decade.
Finding the right niche
LU-VE has 17%/18% share in the heat exchanger and air cooling equipment markets in Europe. These are niche high-value-added segments (8% of total volumes) with faster-than-average market growth. After -10% organic decline in 2020e, we expect c. 8% sales growth in 2020-24.
The future ....
