Pasubio Leather Reports 5% Growth Despite Market Challenges with €88M Revenue in Q1 2024

Pasubio Leather Reports 5% Growth Despite Market Challenges with €88M Revenue in Q1 2024

Pasubio Leather, a Vicenza-based tanning group specializing in automotive leather, has shown remarkable resilience despite a challenging market. The first quarter of 2024 saw a 6.38% decrease in year-on-year turnover. However, compared to the November-January 2023 period, the company experienced a 5% growth, highlighting its adaptability in the European luxury segment.

Pasubio Leather reported net sales of 88 million euros for Q1 2024, down from 94 million euros in the same period of 2023. The last twelve months (LTM) balance was 346 million euros, a slight 2% decrease from the previous year.

The company’s revenue is primarily from the automotive sector (92%), with

  • 65% from seats,
  • 23% from interiors, and
  • 4% from steering wheels.
  • The remaining 8% comes from other uses, mainly furniture.

European customers make up 89% of their clientele.

Pasubio Leather’s Q1 2024 results demonstrate its strong strategy and resilience. Despite a year-on-year decline, the 5% growth from the end of 2023 shows the company’s strength in the automotive sector and its ability to navigate market challenges.

The news is taken from the original creator – laconceria.it

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