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On the one hand, the result mainly reflects the slowdown in the industrial sector across the Group\u2019s two key end markets, Europe and North America. On the other hand, the Group was able to mitigate the negative impact of these adverse sector dynamics thanks to its focus on product innovation and customization, as well as the cost-containment actions implemented during the year, ultimately delivering a recovery in the final part of the year, with revenues accelerating by +11.6% compared to Q4 2024.<br><br>The revenue mix confirms the centrality of the core business, which increased to 86.2% of total sales (from 85.0% in 2024), with revenues of \u20ac 32.03 million (-5.9% vs \u20ac 34.03 million in 2024). Automotive remained broadly stable at 13.8% (from 15.0% in FY24A), with revenues of \u20ac 5.10 million, down 14.9% versus \u20ac 6.01 million in 2024, due to the structural weakness of the sector at a global level and the end of the life cycle of certain products linked to the two main customers.<br><br>From a geographical standpoint, the domestic market increased to 31.8%, while the export share remained high at 68.2%, with North America accounting for 24.4%, confirming its strategic relevance despite a less supportive demand environment. This dynamic points to a still robust balance between a solid international footprint and a gradual relative strengthening of Italy, in a year in which commercial resilience was challenged by the cyclicality of end markets.<br><br>On the financial side, at year-end 2025 net financial position (including restricted deposits with three- and six-month maturities) stood at \u20ac 7.70 million, up 34.0% compared to \u20ac 5.80 million as of 31\/12\/2024, and broadly stable versus 30\/06\/2025 (also \u20ac 7.70 million). As noted in our previous update, the first half of 2025 included investments of approximately \u20ac 1.90 million for new assembly and testing lines for pumps and motors of the Elika 1P and Elika 2 families in Zola Predosa; these were complemented by additional cash outflows of approximately \u20ac 1.00 million in the second half of the year related to the workforce reduction process completed during the period.<br><br>The Group continues to focus on ongoing product innovation and customization (also as a defensive lever throughout market cycles). In January 2026, Marzocchi Pompe announced that the Ufficio Italiano Brevetti e Marchi del Ministero delle Imprese e del Made in Italy (UIBM) granted a new patent for the reversible version of the Elika family pumps. This new pump type represents a meaningful technological evolution compared to the Elika pumps and motors currently in the portfolio (to date designed to operate in a single direction of rotation, clockwise or counterclockwise), as it features an architecture capable of ensuring higher volumetric efficiency, reduced pulsations, lower noise, and better suitability for bidirectional operating cycles, making it particularly suitable for advanced applications. Looking ahead, the commercialization of this new product sub-family may represent an additional revenue stream for the Group, as it addresses the needs of fast-growing global segments such as construction machinery and public transportation, both hybrid and electric.<br><br>In summary, although 2025 remained influenced by a challenging macroeconomic backdrop, the preliminary figures indicate a revenue profile better than our expectations, with particularly encouraging signs in the final part of the year. Accordingly, taking into account the information disclosed in the press release, <strong>we confirm our recommendation: target price \u20ac 5.20, rating BUY, risk Medium.<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>In the press release dated 23 January 2026, Marzocchi Pompe SpA, an Italian company engaged in the design and manufacturing of high-performance gear pumps and motors for industrial, mobile, and automotive applications, reported selected<\/p>\n","protected":false},"author":5,"featured_media":11915,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,252],"tags":[271],"class_list":["post-34027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-breaking-news-en","tag-marzocchi-pompe-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BREAKING NEWS - integrae.it \u2013 Financial Boutique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/integrae.it\/en\/research\/breaking-news-21\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING NEWS - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"In the press release dated 23 January 2026, Marzocchi Pompe SpA, an Italian company engaged in the design and manufacturing of high-performance gear pumps and motors for industrial, mobile, and automotive applications, reported selected\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrae.it\/en\/research\/breaking-news-21\/\" \/>\n<meta property=\"og:site_name\" content=\"integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-27T08:00:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-27T08:00:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/integrae.it\/wp-content\/uploads\/2021\/10\/Marzocchi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"amministratore integrae\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BREAKING NEWS - integrae.it \u2013 Financial Boutique","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/integrae.it\/en\/research\/breaking-news-21\/","og_locale":"en_US","og_type":"article","og_title":"BREAKING NEWS - integrae.it \u2013 Financial Boutique","og_description":"In the press release dated 23 January 2026, Marzocchi Pompe SpA, an Italian company engaged in the design and manufacturing of high-performance gear pumps and motors for industrial, mobile, and automotive applications, reported selected","og_url":"https:\/\/integrae.it\/en\/research\/breaking-news-21\/","og_site_name":"integrae.it \u2013 Financial Boutique","article_published_time":"2026-01-27T08:00:45+00:00","article_modified_time":"2026-01-27T08:00:46+00:00","og_image":[{"width":500,"height":500,"url":"https:\/\/integrae.it\/wp-content\/uploads\/2021\/10\/Marzocchi.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"amministratore integrae","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/integrae.it\/en\/#website","url":"https:\/\/integrae.it\/en\/","name":"integrae.it \u2013 Financial Boutique","description":"CORPORATE FINANCE EQUITY RESEARCH EQUITY SALES &amp; 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