Riello Elettronica Record Impressive Financial Results
The figure is an increase of more than 7% on the €280 million recorded in 2018 and places Riello Elettronica amongst the top five globally and third in Europe’s energy conversion sector. Net profit (€23.7 million) is also up 11% compared to the previous year.
The Group is headquartered in Legnano in the Italian region of Lombardy, one of the areas hardest hit by the coronavirus crisis. Despite such challenging circumstances, Riello Elettronica has managed to keep its production plants open to provide assistance to critical sectors such as hospitals, transport and telecommunications, where quality and continuity of power supply is essential.
Indeed, the medical sector is one particular area where the presence of a UPS system is indispensable. As well as supplying UPS to back up intensive care units, ventilators and diagnostic devices, Riello Elettronica also donated the equivalent of €200,000 to support the Intensive Care Department of Legnano Hospital.
Riello Elettronica, which employs more than 1,150 staff, has also voluntarily introduced comprehensive health insurance coverage for all its team to support their immediate needs following any diagnosis of Covid-19 infection.
Today, the Riello Elettronica group has 30 subsidiaries across Europe (including Italy, the UK, Germany, and Spain), Asia (including India, China, Singapore and the Emirates), Australia and the United States. It also enjoys a widespread presence in 85 countries.