Lafert Group: turnover (-2.5%) and orders (-33%) slow down in 2023, but margins triple (Ebit +202%, Ebt +314%)

Lafert Group, a leader in Europe in the design and production of electric motors for 60 years, closes 2023 with a turnover of 225 million euros, slightly down on 2022 (-2.5%), but triples margins with 7.5 million EBIT (+202%) and EBT of 3.4 million (+314% vs 2022).
A significant growth achieved both thanks to a careful internal cost saving activity aimed at making processes more efficient and improving company performance and because of the reduction of raw material costs.

A growing result compared to the 2022 numbers for the company, part of the Japanese giant Sumitomo Heavy Industries and with over 1100 employees worldwide, which, however, records a slowdown in orders of -33%.

"In line with the general downturn in the manufacturing sector, from the last quarter of 2023 and also in the first months of 2024 we have seen a decline in order intake, especially for motors for the energy efficiency sector, and less in the industrial automation sector," explains Eng. Cesare Savini, CEO Lafert Group – In the years of the pandemic, delivery times have expanded up to 36 weeks, and many customers have accumulated excess stocks to cope with such long times, today we have suddenly switched to placing an order in six to eight weeks, while several suppliers and customers in our supply chain work with limited resources due to the general weakness of the market. All this has led to a slowdown in the entry of new orders and consequently in the workload of the factories".

In fact, from mid-2023, Lafert began to resort to collective closure days at the Fusignano plant in the province of Ravenna, and from the end of the year to furlough hours also at the San Donà di Piave factory. A contingent and temporary situation on which the company is working with new projects related to customization and product research, circularity of production and safety at work.

"Lafert has always been recognized for the quality and customization of its motors, a company able to customize and design the product according to the specific needs of the customer – adds Eng. Cesare Savini – We are focusing our efforts on this strength and uniqueness to be prepared and one step ahead of the others as soon as the market recovers. Quality is made in the factory and depends a lot on the care, expertise and attention with which we do our work, which is why we are investing in the search for circular production models that help us reduce waste, optimize warehouses, speed up delivery times and best enhance the safety of our workers."