Press Release

Approval of company results for year 2021 and appointment of LAE’s new BoD

For the second consecutive year, LAE Lughese Attrezzature per l’Elettromeccanica closes its balance with excellent results. The global pandemic and the critical shortage of raw materials do not harm the revenues of 2021, with a positive trend over the previous year and the highest profits of the last 8 years.

This result is a consequence of the reorganization and the internal growth that LAE carried out during the pandemic, with an industrial plan favoring the improvement of product and service quality in a condition of controlled growth. The strategy is completed by increasing investments in research and development, so to deliver to the customer higher and higher added value and competitive advantage.

In light of the consolidated successes, the strategy undertaken so far was also confirmed for the future in the recent Shareholders’ Meeting, which saw the participation of the new German property for its first time. In addition to the approval of the financial statements, the previous CEO Damiano Costa was confirmed, and he will operate within a streamlined Board of Directors.

“We are very proud of the results achieved in 2021, especially in consideration of the global difficult situation, due to the pandemic and the shortage in raw materials”, – comments CEO Damiano Costa. “The entry of a new and completely European ownership also favors us in the context of international sanctions”, adds Costa.

“Thanks to our constant focus on innovation, which in recent years allowed us to register several international patents, we see today a substantial interest and renewed trust from customers. In fact, the conditions for an even better year are already there, given the positive end of the first half of 2022: the path to consolidate LAE as the world reference in high-quality machines for the production of transformers is now solidly underway”.