(Alliance News) - Gibus Spa reported Tuesday that it ended 2023 with revenues of EUR91.4 million, up 8.8 percent from EUR83.9 million in the previous year.

The 2023 performance is mainly attributable to the contribution of the Leiner Group, which was acquired on Sept. 30, 2022 and consolidated as of Oct. 1 of the same year: the transaction enabled the consolidation of the group's business model and increased penetration in the main European markets, namely Germany and Benelux.

Leiner GMBH is in fact a distribution platform for the German-speaking markets, offering access to more than 700 active dealers and a range of strategic products for Central European markets such as glass roofs.

In the Italian market, Gibus recorded a decline to EUR51.0 million from EUR62.1 million in revenues while abroad the increase was 85 percent, to EUR40.3 million from EUR21.8 million.

Revenues from the Luxury High End segment fell slightly year-on-year, to EUR34.3 million from EUR35.0 million, while the Design line saw revenues rise 23 percent to EUR50.1 million from EUR40.6 million. The Leiner Group contirbuted EUR24.0 million to Gibus Group revenues.

Alessio Bellin, managing director of Gibus, said, "We close with satisfactory results a challenging year in all our reference markets, ready to seize the market restart with a greater international presence thanks to the new Dutch subsidiary Gibus NL BV and the Lener Group network, which represents a key distribution bridgehead for lingresso the German market."

"The beginning of 2024 will see the return of the R+T trade fair in Stuttgart, the most important in the World for sun protection, after a six-year absence. For the first time, Gibus will present itself to the industry with its new group identity, together with Leiner, in a 600-square-meter booth: everyone's expectation is high, especially in the DACH area, and we are working intensively to arrive at the February appointment at our best. The fair will then be the occasion for the final market launch of Movie, the new entry-level bioclimatic pergola in our range, on sale from early 2024. From these actions, we expect growing success in terms of sales and turnover, especially in Germany and Benelux, leading the Gibus group more and more to establish itself as a European reference player in outdoor-living products."

Gibus stock is up 3.6 percent at EUR12.80 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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