Italian automotive designer Pininfarina is taking a look at acquisitions after returning to revenue for the primary time in three years, CEO Silvio Angori mentioned.
“We will transfer on after the restructuring and look actively to alternatives available in the market for inorganic progress, along with our natural progress plans,” Angori mentioned in a telephone interview.
The corporate, which has designed a few of the most iconic Ferrari sports activities vehicles, swung to a revenue of two.4 million euros ($2.6 million) final yr, for the primary time since its restructuring course of began in 2019.
Price cuts, refocusing on the automotive enterprise helped the restructuring succeed, Angori mentioned.
Pininfarina, based in 1930 by Battista “Pinin” Farina, was purchased in 2015 by India’s Mahindra & Mahindra.
Its different companies are micro-mobility, metropolis vehicles with low environmental impression, yachts and concrete design.
Potential targets embody digital designers, to finally increase the enterprise of consumer-experience companies and digital actuality applied sciences, the CEO mentioned.
Angori goals to progressively enhance the corporate’s revenues from its non-automotive enterprise to 50 % of the full, from 25 % now, in the course of the subsequent three years.
“Automotive will nonetheless be key, however we need to widen extra our vary of imaginative and prescient and of motion,” Angori mentioned.