M&A pushes the results of Italian Design Brands, which closes 2023 at +16.6%

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It has been an intense year for Italian Design Brands, an Italian high-end furniture group which – a real white fly in the industrial sector – last May was listed on the Milan Stock Exchange, on the Euronext segment. Thanks also to the M&A strategy consistently pursued since the group’s birth in 2016, IDB closed 2023 with 287.4 million euros, compared to 199.5 million in 2022. Also including the results of Cubo Design in the scope of consolidation, Axolight and Turri – companies acquired or whose acquisition was finalized during 2023 – revenues rose to 310.8 million, marking growth of 16.6% compared to the 2022 pro-forma figure, while organic growth was 3.9%.

The group’s strategy is based on a combination of organic growth and acquisitions, which today sees companies such as Gervasoni (and its brand Very Wood), Meridiani, Davide Groppi, Saba Italia, Flexalighting, Axolight, Gamma Arredamenti, Cubo Design (with the Binova and Miton Cucine brands), Turri, Cenacchi International and Modar.

The group’s managers are satisfied with the results obtained: in a complex macroeconomic and geopolitical context, almost all the companies in the portfolio closed the year with turnover at historic highs. The incidence of exports remains stable at 74%, confirming Europe as the main foreign market, followed by North America.

The overall turnover figure for the furniture and lighting market highlights a forecast for the closing of the year with a decline of 3.4% for the Italian Furnishing Macrosystem and stability compared to 2022 for the global Core high-quality design market furniture & homeware market. For IDB, 2023 was characterized by a progressive normalization of companies in the Furniture, Lighting and Kitchen & Systems areas, which had recorded important growth rates in the two-year period 2021-2022

On the other hand, the companies in the Luxury Contract segment, which had suffered more during the years of the pandemic, recorded excellent performances and achieved an overall turnover of 85.2 million euros, higher than the record of 71 million in 2019.

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