EuroGroup, China pushes the numbers. «2025? it is not scary” | EUROtoday

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EuroGroup Laminations closed the primary 9 months of 2024 with constructive outcomes, regardless of the macroeconomic context posing many challenges. This is highlighted by the efficiency of the inventory (over -20% for the reason that starting of the yr), in keeping with the European sector index.

Consolidated revenues reached 649.1 million euros, displaying a slight enhance in comparison with the 644.2 million in the identical interval of 2023 (+0.8%). This outcome was primarily supported by the sensible efficiency of the EV & Automotive phase, which recorded development of 14.5%, with revenues of 415.6 million euros. In the third quarter, the phase accelerated additional, reaching 151.7 million euros (+28.6% in comparison with Q3 2023).

The rising demand for electrification options within the automotive sector has been decisive in counterbalancing the difficulties encountered within the industrial phase. Thanks to this, the Baranzate (Milan) firm has consolidated its function as a world chief within the manufacturing of stators and rotors for electrical motors and goals to journey the wave of the vitality transition. And at the moment the acquisition of 40% of the capital and management, by the signing of a shareholders’ settlement, of Kumar Precision Stampingsmain operator within the Indian industrial market.

Chinese market in nice form

The Asian area led the geographic development, with revenues rising 167% in comparison with the earlier yr, from €32.7 million to €87.2 million. The Chinese market, particularly, confirmed spectacular growth, tripling revenues within the third quarter (+261.9% in comparison with Q3 2023). This dynamic confirms the essential function of China in EuroGroup’s technique, the place the outcomes of the three way partnership launched solely final summer season with the group aren’t but unfolding Hixihwhose founder, Niu Yishunhas been a accomplice (and shareholder) of Pirelli for over 20 years.

In Europe, the Middle East and Africa (EMEA), nevertheless, revenues suffered a decline of 16.7% (Italy -17.3%), resulting from a slowdown in demand within the industrial phase. Which, nevertheless, additionally presents dynamic points: the cooling and cooling methods linked to the development of knowledge facilities and the increase in synthetic intelligence, and logistics. The vitality sector is experiencing difficulties.