Lu-Ve Group: 2018 statement

For the LU-VE Group, the year 2018 was very positive and at the same time, it was an important year for future development and growth.
- For the first time, consolidated revenues exceeded the threshold of 300 million: € 306.9 (+ 13.6%; + 11.7% given the same scope of consolidation). Adjusted EBITDA reached € 38.4 million (12.5%) of sales, up approximately 24% compared to € 31.0 million in 2017 (11.5%). Net income equals € 16.1 million, approximately € 10.0 million more than in the previous year.
- In June, the acquisition of 100% of the company Zyklus (Jacksonville, Texas) was completed. The operation is the culmination of a strategic project which aims at entering the world's largest refrigeration and air conditioning market: the first essential step in a medium-term plan for growth in the North American continent;
- In December, a preliminary agreement was signed for the acquisition of the "Air" division of the Swedish multinational Alfa Laval, by far the most important operation in the history of the Group: it will make LU-VE the third largest world player (second in Europe) within the ventilated device sector;

The projects for doubling the Polish plant and relocating and expanding the Chinese production site have continued in compliance with deadlines and cost estimates. The portfolio of orders reported constant growth in 2018 (as of 31 December + 11.4% compared to the previous year).
Reports will be made available to the public - together with the Annual Financial Report as of 31 December 2018 containing, amongst other items, the financial statements of the year and the consolidated financial statements as of 31 December 2018, the Directors' Report on Operations, the Reports of the Statutory Auditors and of the Independent Auditors - within the deadlines prescribed by law at the administrative office and on the Company's website: www.luvegroup.com, section “Investor Relations” “Shareholders’ meeting documentation" “Shareholders' Meeting of 29 April  2019", as well as on the authorized storage mechanism eMarket Storage at the address www.emarketstorage.com.