Esautomotion sets aside another record year. Approved the 2022 Budget.
The shareholders’ meeting of Esautomotion officially approved the company financial statements as at 31/12/2022, which closed with a turnover of 34.091 million/€, equal to an increase of 19.2% compared to the previous year, and a net profit of 5.102 million/€.
The Group’s “direct” exports accounted for 48% of sales, to which must be added the value of products resold abroad to domestic OEMs, which brings the overall estimate of direct+indirect exports to around 80% of revenues.
The Chief Executive Officer Gianni Senzolo commented on these results: “We are very happy with our 2022 results, which consolidate the very strong growth of 2021, with the certainty that we could have performed even better in a situation of normal supplies and transport. Throughout the year the priority was to ensure deliveries to our customers, which required a series of extraordinary measures to deal with the shortage of semiconductors and the vertiginous increase in logistics costs, to which have been added speculative phenomena on prices and the request for exorbitant financial advances to ensure supplies. We had to review internal processes and in some cases we “redesigned” the hardware to be able to use alternative components and expand the pool of suppliers around the world. Given the still uncertain context, this modus operandi will remain throughout 2023, forcing us to continuously reconfigure our way of operating“.
Growth driven by innovation. R&D is confirmed as the No. 1 functional area in terms of investments.
Esautomotion spent in 2022 approx. 1.2 million/€ in R&D, to support the development of software and integrated devices according to the principles of Industry 4.0, as well as optimizing product performance in new application sectors.
In particular, the activities focused on the integration between different mechatronic technologies, the development of both communication logics 4.0 and networking as well as devices, sensors, processors and kinematics. Maximum attention is also paid to sustainability, understood as an improvement in energy efficiency and the green transition, increasingly topical and relevant issues, especially in northern European countries.
All major markets increase. The customer base is expanding.
“In 2022 we recorded an increase in sales volumes both at historic OEMs and at recently acquired ones” – declares Andrea Senzolo, General Manager – “Thanks to the flexibility of our production and logistics structure and the all-Italian ability to find “creative” solutions ” in the most critical cases, we have managed to effectively manage the most problematic situations in terms of deliveries. This has ensured us greater penetration of strategic customers as a share of CNC compared to competitors, extending the offer to complementary applications, motors and drivers”.
“At a geographical level, Europe has experienced the highest growth rates due to the strong demand for the replacement of plants to adapt them to Industry 4.0, driven, as in Italy, by tax incentives” – adds Senzolo – “At the same time, the activities to strengthen and broaden the coverage of the commercial network, particularly in China, Turkey, the Iberian Peninsula and the United States.
“In 2023, we will intensify the push into the most resilient and potential markets. After the Covid emergency, the Chinese economy has returned to racing while towards the middle of the year Esautomotion Turkey will be operational, from which we expect great results” – announces Senzolo – “We are completing the restructuring of our US branch, for be able to exploit the immense potential of the American market. To support this effort, we have hired strategic resources in the management of the logistics and commercial function. At the same time, we will continue to research and analyze opportunities for vertical or horizontal integration for external lines. The first result of this strategy is the recent acquisition of Sangalli, a leading Italian company in the production of electric motors. Other negotiations could be activated shortly. What matters is to continue growing to reach a significant turnover threshold from which advantages in terms of economies of scale and diversification possibilities can only derive”.