- Revenues of the subsidiary EA110 reach €5 million
- The subsidiary Enigma Capital Investments LLC in Dubai posted revenues of €2.2 million
- Revenues also grow in France and Spain
- The performance of Italy was good, absorbing the backlash from the limitation of credit transfer instruments, earning €28.2 million (-12.4%)
Genoa, 3 May 2023 – Riccardo Iovino, 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 Q1 2023 national and international revenues, not subjected to statutory audit. Consolidated revenues as at 31 March 2023 amounted to €36.8 million, an increase of 10.5% compared to the same period of the previous year, when they amounted to €33.3 million.
Specifically, in Italy Q1 revenues amounted to €28.2 million, a slight drop (-12.4%) compared to the €32.2 million of the same period of the previous year, which benefited to a limited extent from State incentives.
EA110, the group company that competes in the energy efficiency sector, also performed well, adding revenues of €5 million on its own. The benefit of diversifying investments and internationalising the brand is also evident from the positive performance of the French and Spanish companies, which respectively contributed €1.1 million and €300 thousand to revenues.
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 revenues of €2.2 million in the first months of this year.
Riccardo Iovino, CEO & Founder of EdiliziAcrobatica S.p.A., commented that “In general the first quarter of the year was positive for the entire Group, as is evident from the value of consolidated revenues that reached €36.8 million, up from last year when anyone operating in our sector benefited from the State’s renovation incentives. However, it’s clear that the company hasn’t suffered any setbacks due to the restriction of tools such as invoice discounts and the assignment of credit, with revenues falling just 12.4% in Italy, a difference that was largely compensated by the group’s other subsidiaries and the diversification of the business, first and foremost EA110 which on its own accounted for one-sixth of global turnover”.
In Italy, direct operating offices reached 89 as at 31 March 2023, up by 11 compared to 78 as at 31 March 2022.
As for the French subsidiary EdiliziAcrobatica France Sas, note that revenues generated in the first quarter of 2023 amounted to approximately €1.1 million, up 21.7% compared to the previous year when they stood at €0.9 million.
As for the Spanish EA Iberica, whose first point was inaugurated in Barcelona in April 2022, the revenues produced totalled €0.3 million, an increase of 64.3% compared to €0.18 million.
Finally, the parent company EdiliziAcrobatica S.p.A. reached a total of 1,382 employees as at 31 March 2023 compared to 1,103 on 31 March 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 Acrobatica 110 Srl and the franchises, the Group reached a total workforce of 2,222 employees.