Visottica Group expansion boosts FY2022 turnover to €98 million
September 4, 2023
Visottica Group, a leading producer of eyewear components headquartered in Susegana, Italy, has annouced its FY2022 results, reporting a turnover of €98 million for the year. The figure, an increase of 14% compared to the €86 million in 2021, is said to benefit from the revenues of the company Ethos, a company specialising in galvanic processing which was consolidated last financial year, and does not include the turnover of eyewear component manufacturer Ideal, acquired in 2023.
Attributed to a policy of targeted acquisitions of technologically complementary companies, alongside organic business development, Visottica’s revenues have grown by over 50% compared to 2019, when it recorded a turnover of €64 million euros. In the same period of time, employees globally have grown from 1,080 to the current 1,300, distributed across six production plants in Italy and one in China, five sales offices and a trading company located in Hong Kong.
“In our development path, 2022 was a fundamental year, during which the integration process of the companies acquired in previous years was consolidated, facing an increasing market demand,” stated Rinaldo Montalban, president of Visottica Group. ”This has allowed us to touch the threshold of €100 million in revenues, an unthinkable goal until a few years ago, taking into account the difficulties linked to the pandemic and international tensions. This growth – which we see above all in companies within the Italian perimeter – concerns not only production for the eyewear sector but also the other sectors in which we are investing.”
During the 2022 financial year, Visottica allocated approximately €9 million for investments to support production, R&D, and extraordinary operations. “We will also continue in 2023 on the path of business expansion and diversification, to offer an increasingly complete service to our customers and partners, exploring new opportunities functional to our strategic development,” Montalban concluded.
Interested in learning more about Visottica’s use of Metal Injection Moulding, and how the process became an industry standard? We did a deep dive into the subject in the Spring 2023 edition of PIM International:
‘Visottica Group: Integrated workflows and the value of Metal Injection Moulding in eyewear and beyond’, reported by Luca van der Heide, is available to read here, for free and in full
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