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  RACING FORCE S.P.A company press release from 09/02/2023

  09/02/2023 - 07:35

Racing Force Group growth continues in Q4, New all-time sales record in 2022

REVENUES IN THE Q4 EQUAL TO €13.4 MLN (+21.3% y/y)

FY 2022 CLOSES AT €58.8 MILLION (+26.1% y/y)

Ronco Scrivia (GE, Italy), February 9th, 2023 - Racing Force S.p.A., 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 its consolidated sales figures for Q4 2022 and for the full year:

  • Consolidated Q4 2022 Revenues at € 13.4 million, up 21.3% from € 11.0 million in Q4 2021 (+18.5% at constant exchange rates);
  • Consolidated revenues for the full year at € 58.8 million, up 26.1% from € 46.7 million in FY 2021 (+23.3% at constant exchange rates).

Consolidated 2022 sales, which increased by double digits over 2021, represent a new record for the Group and were achieved in all geographic areas, with particular emphasis on the macro-areas of the Americas, up 44.3 %, and EMEA, up 22.6 % over the same period last year.

All product categories are significantly growing, with Driver's Equipment in particular highlight (+30.0 %), driven by the increasing success of Bell helmets, while the Car Parts segment reports +15.9 % and Others grow by 21.6 %.

The incidence of Dealers, as the Group's priority sales channel, stands at 65% of total sales for the year, with Team & Car Manufacturer accounting for 22% and Other for 13%. Compared to 2021, there was an increase in revenues to Team & Car Manufacturer (+35.6%) and Other (+71.3%), segments that benefited from major partnership agreements signed by the Group.

“In 2022 we achieved record sales once again, in an increasingly challenging global macro context, demonstrating the quality of our offer and our strategy" commented Paolo Delprato, President and CEO of Racing Force Group. "Racing Force's goal is to continue investing in research and development to offer to the market innovative solutions which constantly improve the quality, safety and performance of our products. This is the key to our success, the credit for which goes to all our girls and boys who every day with passion and dedication push us more and more towards excellence. To them go my personal thanks."

Racing Force Group's financial statements will be approved on March 29th, and the data will be presented and commented during a call on March 30th. Details on how to participate to the call will be confirmed soon.

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  Original Source: RACING FORCE S.P.A