IN THE FIRST 6 MONTHS OF 2023 REVENUES AT €37.2 MLN (+10.7% y/y)
Racing Force S.p.A., the parent company of Racing Force Group, which is specialized in the development, production, and marketing of safety components for motorsports worldwide, listed on the Euronext Growth segment in Milan (RFG) and Paris (ALRFG), announces consolidated sales figures for the first half of 2023 equal to €37.2 million, up 10.7% compared to €33.6 million in the first half of 2022 (+10.4% at constant exchange rates). The incidence of consolidated revenues for the second quarter of 2023 is equal to €16.6 million, up 3.4% compared to €16.0 million in the second quarter of 2022 (+4.0% at constant exchange rates).
In terms of geographical areas, countries in the EMEA and APAC macro-regions have recorded the most significant growth, reaching +15.7% and +9.6% respectively, compared to the first half of 2022, while the Americas show a slight decline (-0.6%), mainly due to a one-off supply made during the previous fiscal year. Excluding this one-off supply, growth would have been double digit.
With regards to product categories, Driver's Equipment represents the main segment (72% of total sales in the first half of the year), up 12.3% compared to the first half of 2022, thanks to the increase recorded in all the main racewear products offered by the Group. The turnover of Car Parts signed a 11.3% decrease compared to the particularly positive first half of 2022, while the Other segment recorded a triple-digit growth (+120%), mainly due to the sales of Racing Spirit brand, following the acquisition of the entire project by the Group during the previous year.
Dealers are confirmed as the main sales channel for the Group, accounting for 62% of total sales in the first half of the year, up 8.5% compared to first half of 2022. Furthermore, revenues from Team & Car Manufacturers strongly increased (+30.5%), due to important partnership agreements signed by the Group, while the decrease in sales to Others (-6.3%) is mainly due to a one-off supply made in 2022 to a customer outside Motorsport.
Paolo Delprato, Chief Executive Officer of Racing Force Group, commented: "According to our plan, 2023 was supposed to be a transitional year, waiting for a significant boost in growth in the coming years, following the investment projects we are currently implementing and will complete next year. Recording a double-digit growth in the first half of this year once again confirms the strength of the Group and of our entire Team, the true engine of our success. Furthermore, the order portfolio collected allows us to approach the end of the financial year on a significantly positive note, with the aim of once again updating the Group's sales record".
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https://www.actusnews.com/documents_communiques/ACTUS-0-81225-rfg-1h-2023-eng.pdf
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