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April 09, 2020

In the coming days, Riello Elettronica will complete its consolidated financial statements for 2019, recording a turnover in excess of 300 million Euros, an EBITDA of 43 million Euros and a net profit of 24 million.

However these strong financial figures pale into insignificance compared to another number important to the Verona company, founded and successfully managed by Cav. Lav. Pierantonio Riello (pictured).

A few days ago, the general management of AULSS 9 Scaligera formally accepted a donation equivalent to around 200 000 Euros from Riello Elettronica that will provide a monitoring center and 8 patient monitors for the Intensive Care Department of Legnago Hospital.

This initiative reflects the strong roots of the company to the Legnago territory in this moment of emergency, already evidenced by the previous donation to the Municipality of Legnago of supplies of PPE (Personal Protective Equipment) for the staff at the hospital's health facilities and the retirement home.

The idea was proposed by Cav. Lav. Pierantonio Riello, who explains “For our part, we wanted to give concrete support to the health structures of the area and to the people who fight on the front lines every day in the wards, with the hope that other entrepreneurs can follow suit and make their own contribution to help win this most important battle together".

The Riello Elettronica group’s core business is represented by the production of uninterruptible power supplies (known by the acronym "UPS"), electronic equipment that acts as an energy reserve in the event of a network blackout. They are products able to guarantee continuity and safety in all those cases in which the continuity of the power supply is fundamental, such as in operating rooms, telecommunications, transport, etc.

The importance of such products was confirmed by the recent Prime Ministerial Decrees of 22 and 25 March 2020, which recognize UPS-related activities among the so-called 'Essential'. The relevance of the activity at this time derives from the fact that the company is working to complete orders and to provide assistance to hospitals and all strategic activities in this delicate phase of our life.

This sense of responsibility stretches to the way the company is supporting its workforce too. It took the voluntary decision to pay in full for special insurance coverage for all employees to support their immediate needs and follow-up any diagnosis of Covid-19 infection. While most of the main Medical Expense Reimbursement policies do contemplate the risk of pandemic, this decision extends support to workers who currently have no health coverage.