We confirm our international leadership in integrated lighting systems for furniture industry, with new investments in the retail sector and industrial applications.
The 2022 was an important year: we consolidated the Group's leadership with the integration of Forma e Funzione, active in the lighting sector for furniture, and we further accelerated innovation processes in product development in terms of design and technology. This allowed us to introduce the new generation of high-efficiency LED systems to the market, with energy savings of up to 50% compared to previous generations.
Thanks to the new structure after the integration of Forma e Funzione, the Group recorded a revenue increase of 29.4%; organic growth at a constant perimeter was instead 10%. Sales were made for 70% on foreign markets; besides Europe, the branches in the USA and China also contributed to the excellent performance, with an increase in business of 52% and 25%, respectively.
During the year, we obtained ISO 14001 certification for our production sites, which, thanks to the installation of photovoltaic panels in recent years, use only self-produced energy from renewable sources. L&S has also further implemented its sustainability balance sheet.
We are structuring a circular economy model that guides a future design thinking for a sector, that of lighting, characterized by significant growth prospects linked both to an increasing attention to light as an emotion that creates well-being, but also to sustainability and energy savings.
L&S's dynamic growth follows and anticipates the evolution of the world of lighting, not only as a functional and essential element in homes, offices, shops or hotels, but as a furnishing element and distinctive design detail "within" the furniture, with a strong focus on quality details to "illuminate" the projects of its customers.
We also paid great attention in 2022 to the over 500 company employees, who have continued to feel the effects of Covid to varying degrees, such as the employees of the Chinese plant due to the long lock down.
Finally, we have strengthened our organizational and managerial perspective with the integration of Forma e Funzione and the enhancement of resources through a diversity path.
