Racing Force Group Reports Stability and Growth in Q1 2024 Sales Figures

Racing Force S.p.A., a global developer and marketer of motorsport safety components, announced its Q1 2024 revenues amounting to €20.6 million, showing stability with a slight variation of -0.2% compared to Q1 2023 at current FX rates, but a minor increase of +0.1% at constant FX rates. Excluding non-core business related to non-technical Racing Spirit branded apparel, the core sales increased by 5% from the same period last year.

The financial figures also highlighted growth in different product segments and regions. Driver's Equipment revenue rose by €0.4 million, fueled by demand for OMP branded racing suits. Car Parts saw a growth of €0.3 million, largely due to European car manufacturers’ production programs. Meanwhile, sales declined in the Other segment primarily due to a drop in sales of non-technical Racing Spirit branded apparel.

Geographically, APAC markets witnessed a robust increase of +28.1%. EMEA regions remained stable with a slight +0.3% growth, and the Americas experienced a contraction of -10.5%. However, adjusted figures excluding the transient impact of apparel orders show stronger growth in both EMEA and the Americas.

Group's sales channels showed slight changes, with dealers slightly decreasing their share of total revenue. Yet, revenue from team and car manufacturers surged by +6.9%, indicating strong business engagements, notably including major partnerships in international and national racing competitions.