Visual Fan reports 48 percent growth in net profit in 2023

Visual Fan (stock symbol ALW), owner of the Allview brand, recorded a 19.12 percent increase in turnover at group level, reaching 134 million RON (around 27 million euros), respectively with 48 percent of the profit, up to 7.03 million RON (1.4 million euros), according to the preliminary results for 2023. Compared to 2022, the net profit of the group increased by 2.2 million RON.

The Visual Fan group of companies consists of: Visual Fan (Allview), Visual EV Distribution, Intervision Trading (AKAI) and Headlight Solutions. The main company in the group, Visual Fan (Allview) generated a turnover of approximately 108 million RON and a net profit of 4.3 million RON, representing a percentage of 4.01 percent of the turnover, with a significant increase compared to 2022.

Last year marked significant progress in the company’s projects and a diversification of activities into new market segments, in line with the “Green by Allview” strategy, especially of the Solar Energy division.

In the segment of TVs and phones, Visual Fan saw a slight increase in turnover and profitability compared to the year 2022, although this year the electronics market, both locally and internationally, showed a trend of decrease in demand volume, profit margin and purchasing power of end customers.