| Main economic, financial and management data | 31. DEC 24 | 31. DEC 23 |
|---|---|---|
| Total revenues | 928.605 | 819.882 |
| EBITDA from Financial Stetement, including the effect of IFRS 16 (1) | 136.641 | 104.487 |
| EBITDA adjusted, including IFRS16 effect (2) | 137.954 | 112.809 |
| EBITDA adjusted, excluded IFRS16 | 122.539 | 98.293 |
| Operating result | 88.919 | 61.881 |
| Income before taxes | 57.244 | 34.709 |
| Profit (losse) of the year | 30.448 | 12.473 |
| Net invested capital | 85.356 | 47.745 |
| Total net equity | 262.264 | 191.136 |
| of which: third party | 3.973 | 2.409 |
| Net financial position, excluding the effect of IFRS 16 | (97.373) | (163.088) |
(1) EBITDA: as result of the period before depreciation, amortization, financial profits and cost and third parties effects
(2) EBITDA adjusted: as ebitda before not recurrent revenues and costs
FINANCIAL STATEMENTS AS AT 31 DECEMBER 2024
Euro thousand
| Balance Sheet - Assets | 31. DEC 24 | 31. DEC 23 |
|---|---|---|
| NON CURRENT ASSETS | ||
| Property, plant and equipment | 90.895 | 85.485 |
| Goodwill | 231.480 | 231.480 |
| Other intangible assets | 69.218 | 65.697 |
| Equity investments in Joint Ventures accounted for using the equity method | - | 6.500 |
| Financial assets | 330 | 386 |
| Deferred tax assets | 19.986 | 20.856 |
| Other receivables and non-current assets | 13.049 | 19.365 |
| Non-current Assets | 424.958 | 429.769 |
| Current assets | ||
| Trade receivables | 280.734 | 241.332 |
| Current financial assets | 14.148 | 79.668 |
| Inventories | 740 | 646 |
| Other receivables and other current assets | 59.928 | 42.031 |
| Cash and cash equivalents | 259.947 | 195.540 |
| Current assets | 615.497 | 559.217 |
| Total Assets | 1.040.455 | 988.986 |
| Balance Sheet - Liabilities | 31. DEC 24 | 31. DEC 23
|
| Total Equity | ||
| Share Capital | 69.756 | 65.641 |
| Translation reserve | (21.742) | (20.046) |
| First time adoption reserve | 1.407 | 1.407 |
| Other reserves | 165.641 | 127.173 |
| Negative reserve for treasury shares in portfolio | (379) | - |
| Net profit (loss) of the year | 29.084 | 12.430 |
| Retained earnings (losses) | 14.523 | 2.122 |
| Net Equity of the Group | 258.290 | 188.727 |
| Capital/Reserve of third parties | 2.610 | 2.366 |
| Result of third parties | 1.364 | 43 |
| Non-controlling interests | 3.974 | 2.409 |
| Total Equity | 262.264 | 191.136 |
| Payables due to banks and other lenders | 286.507 | 328.105 |
| Employee benefits | 16.957 | 17.347 |
| Provisions for risk and charges | 14.132 | 11.113 |
| Other payables and other non-current liabilities | 22.007 | 25.459 |
| Non-current liabilities | 339.603 | 382.024 |
| Payables due to banks and other lenders | 133.187 | 155.945 |
| Trade payables | 173.588 | 147.978 |
| Tax payables | 23.062 | 14.527 |
| Other payables and other current liabilities | 108.751 | 97.376 |
| Current liabilities | 438.588 | 415.826 |
| Total Liabilities | 1.040.455 | 988.986 |
FINANCIAL STATEMENTS AS AT 31 DECEMBER 2024
Euro thousand
| Profit and Loss | 31. DEC 24 | 31. DEC 23 |
|---|---|---|
| Revenues | 912.735 | 799.504 |
| Other revenues | 15.870 | 20.378 |
| Total revenues | 928.605 | 819.882 |
| Change in inventories | (79) | (76) |
| Costs for raw materials | 15.271 | 8.889 |
| Service costs | 356.206 | 318.712 |
| Personnel costs | 392.962 | 363.101 |
| Depreciation and amortization | 41.992 | 37.491 |
| Provisions and impairments | 4.020 | 4.221 |
| Other costs | 29.314 | 25.662 |
| Total Costs | 839.686 | 758.000 |
| Operating income | 88.919 | 61.882 |
| Financial income | 30.022 | 34.010 |
| Financial expenses | 61.698 | 61.182 |
| Income (Loss) before taxes | 57.243 | 34.709 |
| Taxes | 26.795 | 22.236 |
| Net income from ongoing assets | 30.448 | 12.473 |
| Profit (loss) for the year | 30.448 | 12.473 |
| Profit (loss) of third parties | 1.364 | 43 |
| Profit (loss) of the group | 29.084 | 12.430 |
| Components of comprehensive income that will not be subsequently reclassified to the income statement | ||
| Actuarial Gain/Loss on defined benefit plans | 251 | (238) |
| Tax Effect | (60) | 57 |
| Total components of comprehensive income that will not be subsequently reclassified to the income statement | 191 | (181) |
| Components of comprehensive income that will be subsequently reclassified to the income statement | ||
| Differences from currencies translations of financial statement in foreign curency | (1.698) | (7.047) |
| Derivatives | (517) | (2.834) |
| Tax Effect | 124 | 680 |
| Total components of comprehensive income that will be subsequently reclassified to the income statement | (2.091) | (9.201) |
| Total comprehensive income | 28.548 | 3.091 |
FINANCIAL STATEMENTS AS AT 31 DECEMBER 2024
Euro thousand
| Statement of Cash Flows | 31. DEC 24 | 31. DEC 23 |
|---|---|---|
| Profit bef ore taxes from continuing operations | 57.243 | 34.709 |
| Profit before taxes | 57.243 | 34.709 |
| Adjustments to reconcile profit for the year to cash flows from operating activities | ||
| Amortization of tangible and intangible assets | 41.992 | 37.491 |
| Provisions and impairments | 4.020 | 4.221 |
| Net financial expenses/(incomes) | 31.678 | 27.320 |
| Income taxes paid | (20.678) | (17.252) |
| Other non-monetary changes | 1.186 | 600 |
| Cash flow from operating activities before change in working capital | 115.442 | 87.089 |
| Net change in working capital | ||
| Inventories | (94) | - |
| Trade and other receivables | (39.977) | (23.707) |
| Trade and other payables | 11.458 | 30.812 |
| Other changes in net working capital | 1.903 | (2.436) |
| Personnel funds and provisions for risks | (1.635) | (1.143) |
| Cash flow related to operating activities (A) | 87.096 | 90.615 |
| Cash flow from investing activities | ||
| Investments of fixed assets | ||
| Intangible assets | (25.309) | (25.885) |
| Tangible fixed assets | (8.804) | (6.827) |
| Acquisitions of the year net of cash and cash equivalents | - | (3.801) |
| Cash flow from investing activities (B) | (34.113) | (36.513) |
| Cash flow from financing activities | ||
| Capital increases | 40.346 | 136.010 |
| Opening of new bank loans and convertible bond loan | 109.741 | 369.260 |
| Repayment of bank loans and finance leasing | (189.858) | (457.908) |
| Net financial expenses paid | (32.342) | 51.948 |
| Changes in financial assets | 71.662 | (40.295) |
| Financial income collected | 14.742 | 11.247 |
| Dividends paid | (2.478) | (1.783) |
| Cash flow related to financing activities (C) | 11.813 | 68.479 |
| Net cash flow for the period (A) + (B) + (C ) | 64.796 | 122.581 |
| Cash and cash equivalents at the beginning of the period | 195.540 | 74.280 |
| Exchange rate differences on cash and cash equivalents | (389) | (1.321) |
| Cash and cash equivalents at the end of the period | 259.947 | 195.540 |
