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In the first half of 2021, revenues grew by 47% with 24% Ebitda Margin, profit of €3.6 million.
OMP Racing announces an important step in the history of the Group and takes on the new name Racing Force Group.
Paolo Delprato, President and CEO of OMP Racing SPA, said: “With the acquisition of the Bell Racing Helmets group in 2019 we have consolidated the sales of all brands within the OMP Racing organization. However, the presence of two established brands such as OMP and Bell made it essential to give the Group a new name that impartially represented the rich history of both brands, together with the young brands Zeronoise and Racing Spirit.”
“The process of identifying the new name was complex – continued Delprato – but in essence the word “racing” represents who we are and what we do. On the other hand, the second half of the new name embodies the energy and passion of our people and serves to always remind us why we do it, for whom we do it as well as being a warning to never give up.”
The Racing Force name will be applied exclusively to the company and the group, while commercially the various product lines will continue to be offered under the OMP, Bell Helmets, Zeronoise and Racing Spirit brands.
As part of this evolution, all the entities of the group are taking on the new name. The US company, which on 1 June 2021 saw the merger between OMP Racing, Inc. and Bell Racing USA, LLC, changed its name to Racing Force USA, Inc., while by September 2021 Bell Racing Helmets, Wll, with headquarters in Sakhir – Kingdom of Bahrain, will change its name to Racing Force International, Wll.
Racing Force Group closed the half year with revenues up by 47% and an EBITDA Margin
• Revenues of €24.9 million (+46.8% y/y)
• EBITDA at €6.0 million, 24.0% margin
• Net profit of €3.6 million, 14.4% on revenues
• Operating Cash Flow of €3.7 million, thanks to the positive impact of synergies between brands
The Board of Directors of Racing Force S.p.A., parent company of Racing Force Group, met on 10 September 2021, approved the consolidated financial statements for the first semester of 2021.
The Group recorded an excellent start to the year for all brands.
During the first half of the year the Group achieved revenues of €24.9 million, compared to €17.0 million achieved in the first semester of 2020 (+46.8%). Growth was recorded in all geographic areas, with a significant increase in Europe, the United States and Oceania.
EBITDA stood at €6.0 million, with a margin of 24.0% on revenues, up compared to €2.5 million (margin at 14.5%) in 2020 thanks to the contribution of the innovation of products, synergies between brands, company integration and the growing strength of the OMP and Bell brands globally.
Net profit is €3.6 million, with an increase of +375% over the first half of 2020.
In commenting on the data, the Chairman and CEO Paolo Delprato stated: “In the first half of 2021, in a context marked by the mitigation of the health crisis, the integration between the Bell Helmets and Zeronoise brands continued and led to the first important results for the Group. I would like to thank all the employees of Racing Force Group for their exceptional passion and commitment to the execution of the synergies that have led the Group to record results in the first half of the year. ”
Press Release © Racing Force Group