Simone Marelli

Esautomotion's 2023 financial statements approved: revenues still growing despite the uncertain scenario.   On April 4th the Board of Directors of Esautomotion approved the corporate financial statements as of 31 December 2023. At the end of the year, turnover grew by 4.6% reaching €36.7 million, which includes sales from Sangalli Servomotori, incorporated in July 2023.   “I find our performance in 2023 satisfactory” – Franco Fontana, President of Esautomotion, commented – “The year was conditioned by the end of the “shortage” phase of microprocessors and electronic components which drugged the previous two years leading many OEM customers to overstock, thus “pumping” up our sales, which grew double digits in 2021 and 2022. We knew in advance that it would have been impossible to keep this pace also in 2023, considering the progressive destocking phasis which generally took and is still taking  place.”     The keywords for 2024: commercial consolidation, focus on new markets.   “We expect to harvest the fruits of the constant seeding activity in recent years” – Andrea Senzolo, General Manager of Esautomotion, declared – “Thanks to the increased visibility at specialized fairs and the positive word of mouth, we have developed many new contacts in key and emerging markets which we count to convert into actual customers and turnover in the next two years. Furthermore, the acquisition of Sangalli Servomotori will allow us to explore new niches in sectors where we are still not present.”   “We are very optimistic about the results that the new direct branch Esautomotion Turkiye will be able to guarantee us in terms of penetration among local OEMs, also considering their exports to Europe” – Senzolo added – “As far as USA are concerned, “reshoring” is leading to the return of many productions from abroad, a great opportunity for our Esautomotion North America branch, which can offer a unique prompt and “time-zone proof” technical and sales service vs. distant European and Asian competitors.”   “I think that India will be one of our leading markets in the future, because their manufacturing industry is rising rapidly supported by the aggressive protective policies that the Indian government put in place, especially versus import from China” – Senzolo underlined – “Esaumotion has already a solid presence in India through a local distributor and some historic customers. In recent months we have brought new managers into our company to manage in a more focused way this country, which could become a platform from which to serve also neighboring countries.” Watch the video of the interview with Franco Fontana and Andrea Senzolo on the MilanoFinanza/Class channel: https://shorturl.at/fwCV0 Read here the full news:

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