- Revenues of the subsidiary Energy reach €23.4 million
- The subsidiary Enigma Capital Investments LLC in Dubai posted revenues of €4.4 million
- The revenues recorded in France amounted to €3.1 million, while those in Spain totalled €913 thousand
- The performance of Italy was good, absorbing the backlash from the limitation of credit transfer instruments, earning €86 million
Genoa, 8 November 2023 – Anna Marras, CEO of EdiliziAcrobatica S.p.A. (“Company” or “ACROBATICA”), met today with the Board of Directors to present the data relating to the Company’s unaudited consolidated national and international revenues for the first nine months of 2023. Consolidated revenues as at 30 September 2023 amounted to €118 million, an increase of 6% compared to the same period of the previous year, when they amounted to €111 million.
Specifically, the revenues produced in Italy regarding the direct operating offices in the first nine months of 2023 amounted to €86 million, a slight drop (-16.7%) compared to the €103 million of the same period of the previous year, which benefited from State incentives. However, it was also deemed an excellent performance in light of the 53% increase in the number of contracts signed compared to the same period of the previous year which guarantees us growth in the near future.
Energy, the group company that competes in the energy efficiency sector, also performed well, recording revenues of €23.4 million, up sharply from €3.7 million as at 30 September 2022. The benefit of diversifying investments and internationalising the brand is also evident from the positive performance of the foreign companies.
International expansion via acquisition of a majority stake in Enigma Capital Investments LLC based in the United Arab Emirates and active in the rope access construction sector was another source of highly encouraging results, posting €4.4 million considering only the post-acquisition revenues (April-September).
In Italy, direct operating offices reached 97 as at 30 September 2023, up by 15 compared to 82 as at 30 September 2022.
“Growing even when our industry has suffered a significant setback is an indisputable victory for our entire group”, commented Anna Marras, CEO of Acrobatica Group. A victory that is the result of our constant investment in the growth and training of human resources, to date around 2,400, each of whom is constantly followed so that they are always up to date and motivated to give their best and achieve their own and the Group’s objectives. Even where we have embarked on a new path, both in our core business, as in the case of our subsidiary Energy, and in Enigma Capital Investments in Dubai, we have already organised training courses that resulted in extraordinary growth. In light of all this, therefore, we are well on our way to closing the year more than positively, as per our business plan”.
“Revenues in the first nine months, up from the already ‘extraordinary’ result of the same period in 2022, confirm the Group’s very positive trend”, added Riccardo Banfo, CFO of Acrobatica Group. “For our part, we cannot fail to point out how the abrupt stop to invoice discounts and consequently the decrease in the tax bonus in Italy was offset by three important factors: the innovative commercial actions we have put in place through partnerships with a leading bank; international expansion through the acquisition of 51% of Enigma Capital in the UAE; and the diversification of the business through the establishment of Acrobatica Energy to take advantage of the opportunities of the directive on energy efficiency in construction. The first nine months saw the top line grow by 6% to 118 million despite the cessation of invoice discounts for works covered by the tax bonus and the adverse weather conditions of April and May that delayed the completion of many projects”.
As for the French subsidiary EdiliziAcrobatica France Sas, note that revenues generated in the first nine months of 2023 amounted to approximately €3.1 million, slightly down (-13.8%) compared to the same period of the previous year when they stood at €3.6 million.
As for the Spanish EA Iberica, revenues totalled €0.91 million, an increase of 28.3% compared to €0.71 million in the first nine months of the previous year.
Note also that the parent company EdiliziAcrobatica S.p.A. reached a total of 1,487 employees as at 30 September 2023 compared to 1,203 on 30 September 2022. Considering also the French subsidiary EdiliziAcrobatica France Sas, the Spanish subsidiary EdiliziAcrobatica Iberica, EdiliziAcrobatica Monaco and EdiliziAcrobatica Dubai, Saudi Arabia and Nepal, as well as the subsidiary Energy and the franchises, the Group reached a total workforce of 2,373 employees.
This press release is available online at www.1info.it and on the Issuer’s website at www.ediliziacrobatica.com (Investor Relations / Press Releases section).