ThermoKey 2020 Budget

ThermoKey 2020 Budget

Proud to be featured on the Pages of the Messaggero Veneto

We are proud ThermoKey was featured on the Italian daily newspaper Messaggero Veneto, and we are even prouder we can now say that we won our bet: we repurchased 100% of our shares, with a turnover of 33.4 millions in 2020, a +10% growth over 5 years.

ThermoKey 2020 Budget

ThermoKey in Rivarotta Teor, a company specialized in the production of heat exchangers for refrigeration and air conditioning, through Investo Uno, the financial company that controls 70% of it, purchases the shares from the regional financial company Friulia and therefore holds 100% of the company.

Since the entry of Friulia in 2016, turnover has grown from 23.7 millions to 33.4 millions in 2020 (31.413 millions in 2019). The company has strengthened itself by expanding its market – it exports to over 50 countries with a foreign turnover of 73% – and its product portfolio – growing in data center cooling, industrial refrigeration and ad hoc solutions for Chiller manufacturers.

Supporting the relaunch of ThermoKey proved to be a winning choice– says the president of Friulia Federica Seganti – A path towards success: in just five years the company has increased its turnover of 10 million euros. We are pleased to have been alongside brave entrepreneurs in the growth and development of this ambitious project “.

In 2013 ThermoKey was taken over by the financial company Investo Uno, which in addition to the entrepreneur and CEO Giorgio Visentini includes the president Giuseppe Patriarca, the councilor  Alberto Craici and the councilor and general manager Giuseppe Visentini.

In 2013 we saved a company in great difficulty – explains Giorgio Visentini -. Once inside we found an even worse situation: the confidence of the banks and suppliers was exhausted, the orders were firm, the risk of closure at the gates. Nevertheless the company showed significant potential both in terms of human resources and in terms of product. Thanks to the injection of over 8 million euros in the capital and a development plan, we have been able to bring back on track an important heritage reality of our territory. We want to continue to grow in an ethical environment giving a stable future to the 180 workers “.

2020, with the pandemic still in progress, was a complex year – comments the general manager Giuseppe Visentini – we were able to safely manage operations and orders while maintaining a high level of service on the market. Despite the uncertainties, we decided to continue investing in the development of the company: new product platforms, new patents, new plants and production spaces, improvement of information processes. We did not access the payroll subsidies . In 2020 we invested 5.8 millions: for 2021-2023 the investment plan is 3 millions. The satisfaction of our more than 500 customers, the strength and quality of our people, the opportunities that the refrigeration and air conditioning market offer, together with the gradual improvement in economic results, make us look forwards with confidence“.

Renata Della Ricca, CISL Udine secretary, Francesco Barbaro and Alin Stan of the Fim CISL: “We believe in entrepreneurs who give stability to work, because our workers are a resource and not a burden“.

For further information:

Lorenza Masè

Press Office
+39 3495354888

ThermoKey newspaper article