Racing Force Group: EUR 20.6 million sales in Q1 2025 New Record in Sales Orders

22 Apr 2025 17:55 CEST

Racing Force S.p.A., the parent company of Racing Force Group, which is specialized in the development, production, and marketing of safety components for motorsports worldwide, listed on the Euronext Growth market in Milan (RFG) and Paris (ALRFG), announces consolidated sales figures for the first three months of 2025, equal to €20.6 million, in line with the first quarter 2024 (+0.3% vs Q1 2024 at current FX rates and -0.3% at constant FX rates).

The sales order intake in the first quarter recorded a significant high-single-digit growth compared to the previous fiscal year, in line with expectations, with a positive trend that continues into April, a month in which a new record is anticipated. Starting from the second quarter, a significant contribution to revenue is expected from Bell helmets homologated under the new FIA safety standards, confirming the strong market appreciation for the next-generation technological solutions introduced by the Group.

Sales of Driver's Equipment recorded an increase of +€0.4 million (+3.0%) compared to the previous fiscal year, primarily driven by the solid performance of suits and other racewear for drivers under the OMP brand. Car Parts revenue in the first quarter of 2025 decreased by -€0.3 million (-6.6%), mainly due to a few-month delay in supplies linked to the production programs of some major racing car manufacturers; the segment Other registered a slight contraction of -€0.1 million (-5.7%), mainly attributable to a different timing in sales of chairs and benches for stadium, partially offset by an increase in revenue from the Racing Spirit brand.

In terms of geographical areas, the Group has further consolidated its leadership position within the EMEA macro-region, with a growth of +€0.4 million (+2.8%). In the Americas, for the fourth consecutive quarter, the positive revenue growth trend continues, with Q1 2025 closing at +€0.2 million (+4.6% compared to Q1 2024), primarily driven by driver's equipment sales to racing teams in the United States.
The decrease registered in the Asia Pacific area in Q1 2025, amounting to -€0.5 million (-24.5% compared to Q1 2024), is mainly attributable to a different procurement planning by a primary dealer, as deliveries of stock orders for the new season, shipped during the first quarter in the previous fiscal year, were requested at the end of 2024, generating a variation that is expected to be progressively reabsorbed over the course of the year.

Dealers remain the Group's primary sales channel, representing 59% of total revenues in the first three months of the year, with a decline of -€0.7 million (-5.5%) compared to the previous fiscal year, primarily due to the different phasing of planning in Asia Pacific, as previously described. Revenues from Team & Car Manufacturer in Q1 2025 recorded a significant increase of +€0.5 million (+10.5%), following technical partnership agreements in place in the main world championships and national competitions for the current season. Sales to customers classified as Other increased by +€0.3 million (+9.5%), mainly thanks to higher revenues from Racing Spirit branded products to corporate customers.

Roberto Ferroggiaro, Chief Financial Officer of Racing Force Group, commented: "The first quarter ended in line with expectations, confirming the growth trend of OMP-branded racewear, driven by significant technical partnership agreements and the appreciation of top international drivers who recognize the brand as a benchmark in safety and innovation. Regarding helmets, we forecast an acceleration in sales already starting in the second quarter thanks to the introduction of new models that comply with the latest FIA standards. The market has enthusiastically embraced the new range, with a high level of interest translating into a solid and actively processed order portfolio.
Despite a complex geopolitical context and an uncertain macroeconomic environment, the outlook for the fiscal year remains positive. The growth signals observed in the first quarter, together with the steady progress of diversification projects, bolster our confidence, further supported by record order intake in the first four months across all Group brands. Concerning the introduction of new tariffs, we are closely monitoring the situation: the flexibility of our operating model allows us to quickly adapt and promptly seize emerging opportunities".

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