(Alliance News) - Cofle Spa announced Tuesday that it has reviewed its 2022 unaudited revenues, which were EUR53.7 million, up 3 percent from 2021, when they were EUR52.2 million.

Turning to the performance in detail, of both of the group's business lines, the company points out that the OEM business line, which manufactures cables and control systems in the agricultural, earth-moving equipment, commercial vehicle and premium automotive sectors, recorded a 16 percent increase over 2021.

The After Market business line, which specializes in the production of spare parts in the automotive sector, posted volumes equal to an 18 percent decrease compared to 2021, mainly due to the temporary reduction in demand in Eastern European areas and Russia related to the ongoing conflict.

The company also announced that it has strengthened its Italian sales structure, dedicated to the After Market sector to cover more of the domestic market, which is showing positive signs and interesting growth opportunities.

Cofle on Monday closed in the green by 1.7 percent at EUR11.88 per share.

By Claudia Cavaliere, Alliance News reporter

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