Enpaia closes the 2024 budget with a surplus of 22.8 million and a yield of over 3 per cent

Approved by the Enpaia Foundation, the National Welfare Institution for Agricultural Workers, the final balance sheet for 2024 with a surplus of 22.8 million euro, an increase compared to that of 2023 (16.2 million euro).

This is the second most significant result in the Foundation's history after the surplus obtained in 2021," commented Enpaia Chairman Giorgio Piazza in his report to the Board of Directors meeting held in Rome. This confirms the soundness of management and the ability of our organisation to face the challenges of the economic context with vision and responsibility, guaranteeing value and protection for members".

The surplus for the financial year 2024," a note states, "is mainly the result of the performance of financial management and real estate divestments. In 2024, the Foundation made financial investments of approximately EUR 544 million and divestments of approximately EUR 509 million, which generated a net return of 3.14%. Among the investments in 2024, the Foundation increased its mission-related and strategic investments with a focus on the domestic sector.

Enpaia Foundation emphasises that 'in this type of investment, we highlight those in Granarolo, Bonifiche Ferraresi and Masi Agricola, (where Enpaia has reached 9.2%) while in strategic investments in issuers participated by Cdp or the Treasury we also point out the holdings in the funds of Fondo Italiano Sgr and Cdp Ventures'.

The Foundation's net total return was 3.19%, compared to 2.49% in 2023. The value of total assets as at 31 December 2024, at approximately EUR 2.1 billion, increased by 1.3% compared to 2023. The results of pension management improved, with assessed contributions amounting to EUR 171.5 million, up 5% compared to 2023 (EUR 163.4 million).