LSD EBITDA growth driven by cost efficiencies
LU-VE showed slightly better margin and FCF (vs our numbers) in the context of soft volumes. In Q1, sales were down by c6%, largely driven by heat pumps (ex HP the business grew c5%). Heat exchangers were the main driver of the drop (-c19%), while cooling products and glass doors were both up (c10% and 19%, respectively). The trend was mixed across end-markets, with refrigeration and AC down (-5% and -29%), while industrial cooling and special appli ....
14 May 2024
Cost control helps in a softer market
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Cost control helps in a softer market
LUVE (LUVE:BIT), 0 | LU-VE SpA (LUVE:MIL), 0
- Published:
14 May 2024 -
Author:
Grimaldi Giuseppe GG -
Pages:
8
LSD EBITDA growth driven by cost efficiencies
LU-VE showed slightly better margin and FCF (vs our numbers) in the context of soft volumes. In Q1, sales were down by c6%, largely driven by heat pumps (ex HP the business grew c5%). Heat exchangers were the main driver of the drop (-c19%), while cooling products and glass doors were both up (c10% and 19%, respectively). The trend was mixed across end-markets, with refrigeration and AC down (-5% and -29%), while industrial cooling and special appli ....