EDILIZIACROBATICA S.P.A.: THE BOARD OF DIRECTORS APPROVES THE HALF-YEARLY FINANCIAL STATEMENTS REPORT
VALUE OF PRODUCTION €67.9 MILLION +85% OVER 2021
- Value of production of approximately €67.9 million, up approximately 85% compared to 30 June 2021
- EBITDA of approximately €21.8 million, up by approximately 212% compared to 30 June 2021 (EBITDA margin: 32.06%)
- EBIT of approximately €20.9 million, up by about 278% compared to 30 June 2021 (EBIT margin: 30.76%)
- Net profit of approximately €10.6 million, up by approximately 566% compared to 30 June 2021
- Net Financial Position (NFP) of €6.8 million, up sharply compared to €3.6 million at 31 December 2021
Genoa, 26 September 2022 – EdiliziAcrobatica S.p.A. (“Company” or “EDAC”), the parent of the group of the same name, specialised in construction such as maintenance and renovation of buildings and other architectural structures using double safety ropes, listed on Euronext Growth Milan (ticker symbol EDAC) and on Euronext Growth Paris (ticker symbol ALEAC), announces that the Board of Directors met today and examined and approved the consolidated half-yearly report as at 30 June 2022, drawn up in accordance with the Euronext Growth Italia Regulation and in accordance with Italian accounting standards.
Riccardo Iovino, CEO & Founder of EdiliziAcrobatica S.p.A., commented that “Today we are pleased to share the data for the first half of 2022. Six months during which – once again – the world seems to be living on the brink of an abyss like that of a nuclear war. However, despite the increases in the cost of energy and the difficulties that many companies have complained about in finding raw materials, EdiliziAcrobatica has not suffered any backlash from the situation thanks to its working methods that reflect its know-how and allow it to work without the use of scaffolding. All this, in addition to the development plans that as a company now present in a variety of international markets allow us to look optimistically to the future, also thanks to a process of complete digital transformation that will make the Group a major player able to meet all the needs related to the world of our homes, leveraging its widespread network of professional customers located throughout Italy”.
MAIN ECONOMIC AND FINANCIAL RESULTS AS AT 30 June 2022
RECLASSIFIED CONSOLIDATED INCOME STATEMENT (in euros)
The 2022 data show a sharp rise in revenues, recording an increase of about 85% and confirming the growth already evident at the end of 2021.
EBITDA stood at approximately €21.8 million, an intense surge compared to approximately €6.9 million in 2021.
Depreciation, amortisation and write-downs amounted to approximately €886 thousand. This total brought the EBIT to approximately €20.9 million.
The net result for the first six months of 2022 amounted to approximately €10.6 million, equal to approximately 15.69% of the value of production, compared to approximately €1.6 million in the first half of 2021.
RECLASSIFIED CONSOLIDATED BALANCE SHEET (in euros)
The net financial position increased positively from around €3.6 million in cash at 31 December 2021 to a value of around €6.8 million in cash at 30 June 2022. No new loans were stipulated during the first half of the year.
SIGNIFICANT EVENTS SUBSEQUENT TO THE REPORTING PERIOD
EdiliziAcrobatica S.p.A. approved its first Sustainability Report at 31.12.2021 in the month of September 2022.
OUTLOOK FOR THE CURRENT YEAR
The difficult economic and financial situation the entire world seems to have been plunged into is being monitored, and the Group is updating its economic and financial outlook based on the data gathered and the probable evolution for the entire year, assessing the wide range of factors related to the extremely volatile economic situation, but which in any case presents interesting opportunities thanks to the continuation of tax benefits for the maintenance of real estate assets. Management has also analysed the possible impacts that the continuation of the Russia-Ukraine crisis could have on the Company’s operations, developing alternative scenarios of increases in the prices of raw materials, transportation and fuel. However, the Company is confident in its financial stability, therefore for the moment it has not foreseen any significant and noticeable impacts on the Company’s operations due to the current state of the crisis.
The marketing campaign on national television stations aimed at further reinforcing the value of the EdiliziAcrobatica brand for the final consumer will continue, as will the contract as back-sponsor on Torino FC shirts for the 2022-23 season.
The company continues in its plan to strengthen the centralised functions responsible for providing support to both direct Italian operating offices and franchisees as well as to foreign subsidiaries in order to build a robust, flexible corporate structure that is adequate to the requirements of a listed company while still respecting the principles of efficiency and cost containment.
Based on the above and thanks to its organisational flexibility as well as its solid financial situation, the Group intends to continue its growth strategy, opening new offices in Italy on the one hand and continuing its expansion abroad on the other.
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DOCUMENTATION FILING
The documentation relating to the Half-Yearly Report as at 30 June 2022, required by current regulations, will be made available to the public at the registered office (Via Turati 29, 20121 Milan) as well as through publication on the institutional website www.ediliziacrobatica.com, “Investor Relations/Financial Documents” section.
Annexes:
• Consolidated income statement as at 30/06/2022
• Consolidated balance sheet as at 30/06/2022
• Consolidated cash flow statement as at 30/06/2022