Egm x-rayed: Franchetti grows in 2025 and shops in Brazil
Revenues rose by 32.4% to EUR 7.4 million. The company bought 55% of São Paulo-based Ecr Group, active in road and rail infrastructure engineering
Key points
Franchetti do Brasil. This is not because the surname has been present in the Carioca country since the early 1900s (due to immigration from Veneto), nor because in 2025 25% of the group's production value was generated in Brazil. But above all because of the agreement signed in March 2026 for the acquisition of 55% of the São Paulo-based Ecr Group (Ecr Engenharia Ltda and Ecr Tecnologia e Engenharia Ltda), active in engineering services for road, rail, urban mobility, water infrastructures, bridges, viaducts, tunnels and complex civil buildings. And this changes everything: with this transaction (which is expected to be finalised by the first half of 2026) the value of production is expected to double.
The numbers
Meanwhile, the year 2025 was already very bright for Franchetti (which consolidated for the entire year Matildi e Partners Srl, acquired at the end of 2024, and the Austrian newco Strucinspect GmbH taken over at the end of January 2025). In fact, revenues rose by 32.4% to €7.4 million and production value by 45.7% to €13.1 million, of which 9.8 million were generated in Italia (+40%) and 3.3 million in Brazil (+65%), with a change in inventories from €3.3 million to €5 million and other operating revenues from €110,300 to €484,000.
EBITDA, as a result of costs for services that jumped 86.8% to EUR 6.5 million and sundry operating expenses that rose from EUR 241,000 to EUR 605,300, increased by only 8.2% to EUR 3.68 million and, due to depreciation and amortisation that rose from EUR 1.12 million to EUR 1.49 million, EBIT stood at EUR 2.19 million (-3.8%). The negative balance of financial management went from EUR 365,100 to EUR 737,000 (as at 31.12.2025, net financial debt, following the acquisitions made, amounted to EUR 2.1m, against net liquidity of EUR 1.1m at the end of 2024; however, the Debt/Equity ratio is negligible and less than 0.1 times).
Net profit was affected by non-recurring charges and higher taxes
As the tax rate jumped from 21.1% to 41%, the net profit ultimately decreased by 43.2% to EUR 855,500. It was decided to distribute a dividend of EUR 0.04 per share to the shareholders, payable as of 1/7/2026, corresponding to a dividend payout of EUR 257,429 (conservative pay-out of 30% of the consolidated net profit; the parent company closed the year with a net profit of EUR 322,400). It should be noted here that in 2025 Franchetti incurred non-recurring charges (included in financial expenses) related to impairment losses on Strucinspect GmbH, which is still in the operational start-up phase.
Once the acquisition of Ecr is finalised, Franchetti will approve the new business plan, the guidelines of which have already been set out, however, and include, in addition to organic growth starting from an aggregate backlog of EUR 90 million (Ecr in 2025 achieved a production value of EUR 10.4 million, an EBITDA of EUR 2.5 million and net cash of EUR 0.3 million), the further development of the technological and industrial platform, international expansion and further development by external lines.
