VISOTTICA: The Veneto-based company closed financial year with double-digit growth
- By Editorial Team
- September 5, 2023
The Veneto-based company, Visottica Group has reported that it closed its 2022 consolidated financial statements with a turnover of 98 million Euro, a 14% increase compared to the 86 million of 2021. The figure benefits from the revenues of the company Ethos, which was consolidated last year, and does not include the turnover of Ideal, acquired in 2023.
According to the company, the result confirms the boost to growth that has characterised the Group, headquartered in Susegana (TV), over the last few years. Thanks to a policy of targeted acquisitions of technologically complementary companies, accompanied by organic business development, the revenues of Visottica have grown by more than 50% compared to 2019, when it reported a turnover of €64 million. Over the same period, the global workforce has grown from 1,080 employees four years ago to 1,300 today, distributed across seven production facilities – six of which are in Italy and one in China for production destined for the Asian market – five sales offices and a trading company located in Hong Kong.
“As regards our development path, 2022 was a fundamental year, during which the process of integrating the companies acquired in previous years was consolidated, facing an increasing market demand – underlines Rinaldo Montalban, President of Visottica Group. This has allowed us to touch the 100-million-euro revenue mark, a goal that was almost unthinkable just a few years ago, considering the difficulties linked to the pandemic and international unrest. This growth – which we are recording above all in the companies within the Italian perimeter – concerns not only production for the eyewear segment, but also the other sectors in which we are investing. We will continue along the path of business expansion and diversification in 2023, to offer an increasingly complete service to our customers and partners, exploring new opportunities that are functional to our strategic development”.
The Group allocated around EUR 9 million for investments to support production, R&D and extraordinary operations in the financial year 2022.
