Elica, 2020 Revenues down by 5.7%.
Giulio Cocci is the new CEO
Elica, Italian company specialized in the production of kitchen hoods and listed on the STAR segment of the Italian Stock Exchange, closed 2020 with revenues down by 5.7% to 452.6 million euros. Normalized EBITDA amounted to 42.2 million, down by 6.3% compared to 45 million in 2019, while normalized net profit fell to 8.5 million compared to 9.3 million in 2019. The normalized net result attributable to the group decreased to 2.6 million from the 5 million in 2019, while the net result attributable to the group was negative for 1.8 million compared to a profit of 3.1 million in 2019. The Net Financial Position at the end of 2020 was negative for 51.4 million euros, compared to -47.2 million euros at 31 December 2019.
In light of the 2020 results, the board of directors has proposed not to proceed with the distribution of any dividends. The Board has also appointed Giulio Cocci, current Group CFO of the company, director and CEO of the group following the resignation, for personal reasons, of Mauro Sacchetto. Stefania Santarelli is the new CFO of the group.
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