LU-VE order book hits €402.6 million, a record for the company
Key Facts
LU-VE said its order book stood at €402.6 million on September 30, 2026, the highest level in the company's history, up 68.7% from the same period last year and 20.8% from the end of June. The company approved its interim results through September 30 at a board meeting on November 12. Chairman and Chief Executive Matteo Liberali said the order book had reached "the highest levels in our company's history." The record came alongside revenue growth in the third quarter and the first nine months of the year. The company manufactures air heat exchangers and cooling systems for commercial, industrial and technical applications.
Product revenue was €169.2 million in the third quarter of 2026, up 16.9% from the same quarter of 2025, according to preliminary results the company announced on October 9. Revenue reached €490.2 million in the first nine months, an increase of 12.6% year on year. That puts third-quarter growth within the revenue expansion recorded since the start of the year, while the standout figure in the November 12 announcement was the level of accumulated orders. The company links its expansion particularly to power generation, data centers and heat exchangers for heat pumps. Liberali said power generation and data centers were seeing strong expansion in the United States and Europe.
The order book represents the value of orders for which delivery dates have been confirmed, according to the company. Framework contracts, multi-year agreements and other commercial commitments are added gradually after delivery dates are confirmed. Under this definition, the reported figure combines orders with set delivery dates, while other commitments are excluded until those dates are confirmed. The value rose between the end of June and the end of September, alongside a substantial annual increase, reaching the record level announced by LU-VE. The company did not provide, in the available information, a timeline for converting all commercial commitments into recorded orders.
The chief executive named three areas driving the group's growth: power generation, data centers and heat exchangers for heat pumps. He pointed to strong expansion in the United States and Europe in power generation and data center activities, without specifying a growth rate for each market or sector. These areas provide context for the company's growth in cooling solutions, as its expertise includes cooling for data centers and power generation, as well as industrial refrigeration and air conditioning. The group also relies on the diversity of its geographic markets and applications, Liberali said. He said this diversity allows the company to look to the future with optimism despite continued macroeconomic and geopolitical uncertainty.