2019 marked for Sunlight the complete restoration of its production operations, as well as the expansion of its production capacity at its factory in N. Olvio, Xanthi, by 25%.
At the same time, Sunlight’s full comeback in the international industrial batteries markets, the establishment of the subsidiary Sunlight Batteries USA Inc. in America, and its entry into the dynamic market of smart lithium batteries, through the pioneer Li.ON FORCE series, were the most significant milestones for 2019.
The FY 2019 financials of the Group for 2019 were improved. Sunlight Group’s turnover amounted to € 180 million vs € 108 million in 2018. It is noted that the full restoration of the production capacity of the industrial batteries sector was achieved in July 2019.
The Group’s EBITDA stood at € 22.2 million vs. €19.7 million the previous year. Earnings before taxes of the group amounted to € 11.7 million vs. € 10.1 million, marking a small increase.
The first six months of 2019 Group’ s efforts focused on restoring production capacity as quickly as possible to the level before the fire incident, a goal that was not only achieved in record time (July 2019), but also overcome via the capacity expansion program by 25%.
During the same period, Sunlight achieved its full reinstatement in the international industrial batteries’ markets.
At the same time, Sunlight placed great emphasis on R&D. The Li.ON FORCE series of lithium smart batteries for Industrial Vehicles (EIVs), launched in 2019, incorporates Internet of Things and Machine Learning features.
With a fit-for-purpose approach and designed entirely by a specialized team of engineers, based in Xanthi, Sunlight completes its product range addressing effectively all industrial mobility requirements.
In addition, the other two production plants (recycling facility in Komotini and battery assembly facility in Verona, Italy), which are integral parts of the Sunlight value chain, continued their constant improvement in operations.
Finally, in December 2019, Sunlight proceeded with the establishment of a subsidiary in North Carolina, USA, Sunlight Batteries USA, with the aim of accelerating its expansion to the second largest market in the world.