Univergomma and Momo Tires report double-digit growth

Italian tyre wholesaler Univergomma and the company’s Momo Tires exclusive brand reported a 19.8 per cent increase in sales volumes. According to Alexandra Peccia, head of marketing and public relations at Univergomma the impressive growth came despite the tough socio-political climate that is going through Europe and especially through Italy. Sales (in terms of value) were up 14 per cent year-on-year, confirming an initial profit margin exceeding 22 per cent and an EBITDA margin of 5.47 per cent.

According to the company, the results reward the strategy undertaken by the company to increase its penetration in the Italian market with additional facilities and more specialized staff.

The Momo Tires project is also said to have been a key part of the success. Since its launch at Reifen Essen two years ago, the project has entered even into foreign markets. With January sales up 29.7 per cent compared with the same time in 2013, the company is looking forward to another good year in 2014.