RACING FORCE Reports Robust 1H 2024 Results with Strong EBITDA Growth

The Board of Directors of Racing Force S.p.A. approved the consolidated half-year financial statements as of June 30, 2024. Revenue reached €37.6 million, a 1% increase over 1H 2023. The gross margin stood at €23.1 million, maintaining a 61.5% margin compared to €23.0 million in the previous year.

EBITDA grew to €8.2 million, reflecting a 21.7% margin, up from €7.9 million in 1H 2023. The net income saw a notable rise of 10.6%, reaching €5.4 million. Operating cash flow soared to €7.1 million, with an impressive cash conversion rate of 87%. The net financial position improved significantly to +€4.6 million.

The company attributed these results to higher revenue streams, cost optimization in logistics, and lean operations amidst a challenging macroeconomic scenario marked by geopolitical tensions and market volatility. The APAC region saw a 13.2% revenue increase, while the Americas experienced a slight decline of 4.4%.

The report also highlighted Racing Force’s investment in its headquarters' expansion and the successful capital raise, reflecting strong financial health. The sustainability report for 2023 was also approved, reaffirming the company's commitment to environmental and social responsibilities.