2021 Consolidated Financial Accounts

09 June 2022

Motovario Group has approved the 2021 Consolidated Financial Accounts with impressive results and growth compared to all the previous years.

“We are very pleased with the achievements in 2021, as well as the strong first months of 2022” commented Massimo Boninsegna, CFO of Motovario Group.

“It has been a very challenging year as we had to face the supply chain bottlenecks which caused the steep rise of the material purchase prices particularly in aluminum, iron and iron casting, copper and bronze. We also experienced an increase of freight costs, especially in the ocean freights from Asia. The rise in utility costs during the last quarter of 2021 has contributed to further inflation of all production costs.”

“Despite those external factors, we were able to mitigate their effects on our margins.”

“We are very ambitious and focused on the further expansion of Motovario Group and are prepared to take advantage of any opportunity the market would present.”

2021 Consolidated Financial Accounts
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