LU-VE: A FLYING START TO ITS STOCK MARKET DEBUT

MILAN - A positive debut for LU-VE on AIM, the Italian Stock Market dedicated to small and medium sized companies, achieved through the activation of a “business combination” with ISI (Industrial Stars of Italy) which brought in capital to the sum of 50 million euros.

At the start of negotiations, Barbara Lunghi, manager of the PMI market of the Italian Stock Exchange, said: “Welcome, LU-VE! By now, AIM Italia is confirmed as the list for ambitious companies who are ready to grow. We are sure that LU-VE will be able to benefit greatly from this move.”

“When the bell rang, starting the trading of LU-VE stock on the Exchange, I felt around me the presence of all those who participated, especially at the beginning 30 years ago, in the building of this lucky venture. The opening up of capital and access to the Stock Market are the continuation of the growth which has distinguished us up to now, following our traditional principles of leadership and passion. This operation accelerates all the processes which have been under way for the last four or five years, the time necessary to raise 50 million euros of free cash flow” explained the President of LU-VE, Iginio Liberali who, along with the Faggioli family, controls the Group.

“Despite recent events, we are going through a moment in time which is in some respects unrepeatable. The decision to go public using the SPAC mechanism protects us from the turbulence of the markets. We had already set in motion plans for development and enhancement in Italy, the Czech Republic, Poland, Russia and China, spread over a five-year timeframe. – explained Matteo Liberali and Michele Faggioli, respectively CEO and COO of the Group – Now, the listing of LU-VE makes it possible to speed up all our programmes for growth. Under previous conditions our Group generated free cash flow of the order of 11-12 million euros a year: four or five years would have been necessary to generate this financial flow for development. Now, we aim to grow internally and externally: in countries with high potential, through acquisition or setting up new plants. We are looking at geographical areas where we are less present, such as Asia-Pacific and America. Turbulence aside, we are convinced that “Our best days have yet to be lived”.

The Liberali family owns approximately 54.6% of the capital, the Faggioli family about 19.2% and the market has roughly 24.5%; the remaining 1.7% of the share capital is indirectly retained by the promotors of Industrial Stars of Italy.

At the end of 2014 LU-VE Group had 1,528 employees (624 in Italy and 904 abroad): 149 more than in 2013. The last financial year closed with a consolidated turnover of 212 million euros, of which 76% abroad in over 100 countries.

“Today begins a new chapter of the history of the company, which now takes on new obligations and in the future will have to take into account also the demands and requirements of the investors’ money alongside the “patient” money of the families. – said the President during the ceremony to mark the Stock Exchange debut. He underlined with pride that, “the new generations of the founding families have decided, and this is not always the case, to continue the work and the passion of their fathers”.


Fabio Liberali
Chief Communications Officer
LU-VE Group