All geographical macro-regions, and the Americas in particular, recorded a growth rate of around 20 %. In 2019, business outside Europe accounted for slightly less than 50% of the Group's total sales.

In 2019, Bonfiglioli completed the construction of the new EVOlution gearmotor plant (EVO) based in Bologna, which consists of two merged plants and has undergone a complete redesign of layout, process and skills - also thanks to a massive "injection" and integration of 4.0 technologies - and started operations. In addition, BMR, our mechatronic research and systems company based in Rovereto, Italy, expanded its operations in 2019 to a new 6,000 m2 facility that can also accommodate IoT development and test rooms. Bonfiglioli, established in India for over 20 years, has expanded its R&D activities in the country with a significant investment in a rapid prototyping and duty cycle simulation laboratory for wind turbine azimuth and pitch drives and construction equipment drives to increase reliability and innovation in the market. Innovation has always characterized Bonfiglioli's approach; Bonfiglioli became leader of IoTwins, one of the most important research programs within Horizon 2020, the EU framework program for research and innovation. IoTwins stands for "Digital Twin" of industrial processes that make it possible to virtually test systems and devices in advance. This research group is responsible for 12 new digital twin platforms.

2020 was to develop completely differently than expected; China gave the first dramatic signal of Covid-19 at the beginning of the year, while the rest of the world followed two to three months later, with far more profound effects on people, communities and the economy.

In response, Bonfiglioli prioritized the health and safety of its employees. Social distancing was ensured by reorganizing and redesigning processes and procedures in workshops, offices, canteens and common areas, as well as through differentiated shift times and an extensive smart working program. In addition, disinfectants and routines as well as protective masks were provided in all Bonfiglioli companies and training and information events on correct behavior were held for all staff to ensure health and business continuity as far as possible.

Fausto Carboni, CEO of Bonfiglioli, explains: "Lockdowns and restrictions had a strong impact on the company's economic performance. Apart from Germany, which performed similarly to the previous year, the month of April brought largely negative results in Europe and North America. The performance in April was even more drastic in India, where the country was completely paralyzed due to the extremely strict lockdown and national transport blockades. The situation in China was completely different; after the first two weaker months of the year, there was a growth rate of 40% compared to the same months of the previous year. Since June 2020, order intake has increased significantly and in August the company's total output was 13 % higher than in August 2019. All countries have seen a remarkable sales recovery in August; China has increased its growth rate to over 60 %, India has achieved 10 % growth, while the Western economy is still struggling despite far better results, with the exception of Germany and its 40 % increase. The market for wind generators is one of the most important growth factors."