The financial figures for 2022 once again confirm the growth trend of recent years for Vanzetti Engineering, an Italian company specialized in the design and manufacture of cryogenic pumps, with a turnover increase of 32% compared to 2021. Specifically, 15% of the turnover comes from the Italian market and 85% from foreign markets. Half of last year’s total turnover came from the European market, while the rest of the world saw a significant increase from the Asia Pacific region (+14%).
The main driver of growth last year was the maritime sector. In fact, the naval business unit represented the largest part of the turnover, which doubled compared to the previous year. Specifically, there was a significant increase in the sale of high-pressure cryogenic reciprocating pumps (VT-3) and the consolidation of low-pressure pumps (ARTIKA series) for marine engines and ship power systems.
This increase is mainly due to the progressive process of decarbonization of maritime transport and the growing use of LNG in this sector, which allows a significant reduction in the emissions of various polluting gases. It is also linked to the issue of energy security and the decision of European governments to reduce dependence on Russian gas after the war in Ukraine. The growing use of LNG as a marine fuel is possible thanks to the increase in commercial flows of imported natural gas in Europe in methane tankers, with the aim of progressively replacing the gas flows previously transported by gas pipelines between Europe and Russia.
Thus, in the short term, LNG is confirmed as the only viable solution for maritime transport, and a further increase in environmentally friendly LNG-powered ships is expected in the coming years.
With regard to Europe, Germany continued to be the leading market for Vanzetti Engineering in terms of turnover, with consolidation in the maritime sector, mainly due to the strengthening of commercial relations, and good performance in the industrial gas sector. In the British market, growth was recorded in all sectors, especially in the LNG and industrial gas business units. A quota was also set for the marine business unit, which had not registered orders in this market since 2021.
“Geopolitical changes have given us the opportunity to review our plans, making room for new strategies and hitherto unexplored markets. Being aware that there is still a long way to go, I am glad that in 2022 Vanzetti Engineering has returned to strongly consolidate its naval business, but it has also been able to defend its other business areas. The positive trend is a sign of how the market expects new, immediate and sustainable technological responses,” said Valeria Vanzetti Ghio, General Director of Vanzetti Engineering.
Source: Vanzetti Engineering
