19 December 2023

Ladies and gentlemen,

I write you today with pride and gratitude as we reflect upon the remarkable journey of Ortea over the course of this three-year period. Our company has not only weathered the challenges but has emerged stronger than ever, achieving outstanding results that are a testament to the dedication and hard work of our exceptional team.

Even in the fiscal year 2023, Ortea has excelled in many aspects, showcasing remarkable products innovation and financial success. Our commitment to innovation, communication and customer satisfaction at worldwide level has led to a substantial increase in EBITDA, exceeding even our most ambitious projections. These positive results reflect the tireless efforts of each and every member of the Ortea family.

I am particularly delighted to highlight the outstanding performance of our team. The collective passion and commitment exhibited by our employees have been instrumental in Ortea’s success. Their unwavering dedication to improvement and collaboration have propelled us to new heights, solidifying our position as a leader in the industry of Power quality.

As we celebrate these achievements, let us not forget the challenges we faced and overcame together in 2023. Here just the main ones:

EBITDA percentage in double digit, furtherly improved our net financial position, more than 700 customers served in the world, strengthened our customer service organization, developed IOT system to support better our customers remotely, launched Oxygen zero a new disruptive product to manage power micro interruptions, deployed a new ERP for the company.

It is in times of adversity that true teamwork and resilience shine through.

Ortea’s success in recent years is not just about numbers; it is a story of a united team where different professional experiences and background, overcoming obstacles, supporting one another, and reach the right balance in favor of generating value.

I extend my deepest appreciation to each member of the Ortea family for their hard work and commitment and in general to all stakeholders whom confirm their trust on our company. Together, we have not only achieved excellent business results but have embarked on a journey in the culture of teamwork and mutual support.

Looking ahead, we are poised for even greater accomplishments.

As we continue this journey, let us carry forward the spirit of collaboration, innovation, and dedication that defines Ortea.

Thank you all for your outstanding contributions, and here’s to a future filled with continued success and prosperity for Ortea.

I wish you and your families a peaceful Christmas and a prosperous 2024!


Massimiliano Scarpellini