EUR Spa, 2024 accounts approved: profit of EUR 7.2m and record turnover of EUR 43.8m (+2.4%)

- by thereal estate sector, which is physiologically more stable in terms of turnover, which confirmed its performance by marking a +1% increase in active lettings (19.9 million euro in 2024) compared to the previous year.

Il Laghetto dell’Eur

EBITDA (EBITDA) stood at EUR 13.0 million in FY2024, compared to EUR 13.8 million last year, confirming - the company explains - stable growth compared to previous years, as well as management oriented towards working on the main areas of optimising operating and management costs. The EBITDA compared to the previous year reflects the economic impact of the signing of the trade union agreement on the performance bonus for the three-year period 24-26, with the consequent closure of the state of unrest and the restoration of positive trade union relations. Even in this context, in 2024 EUR SpA achieves the objectives imposed by the Ministry of Economy and Finance on the subject of containing operating costs (Article 19, paragraph 5, of Legislative Decree 175/2016). The ratio of operating costs to operating revenues in the financial year 2024 stood at 70% against a target set on average for the three-year period 20-22 of 78%, showing a generalised increase in margins.

The operating result (EBIT) is strongly influenced by a management approach based on caution and sustainability in the medium and long term - underlines EUR S.p.A. - which has seen the allocation of important non-recurring valuation items relating to the hedging of potential risks on receivables and disputes. These items amounted to EUR 7.1 million compared to EUR 4.9 million in 2023. Despite these items, EBIT confirmed a positive value of EUR 1.9 million. Financial management, as in the previous year, continues to contribute significantly to income creation (EUR 8 million). This amount is partly attributable to the signing and definition of the settlement reached with the Credit Institutions to close the disputes on derivative contracts closed in the year 2015 and partly deriving from the time deposit contracts signed for the management of liquidity in excess of current financial requirements.

In 2024, the current and deferred tax assets result in a negative impact on the result for the year of EUR -2.2 million compared to a positive impact in 2023 of EUR 5.5 million (with a change of EUR -7.7 million compared to 2023); in fact, in 2023, considering the better performance achieved compared to forecasts, EUR SpA had updated the tax plan for future years by recognising deferred tax assets in the income statement, which were reversed in the current year as a result of the taxable income generated by operations.

L’interno del Palazzo dello Sport

The cash flow for the year was also positive at EUR 7.4 million compared to a positive cash flow of EUR 3.1 million in the previous year. Income management in the financial year 2024 produced cash of EUR 12.2 million (EUR 10.8 million in 2023), highlighting EUR SpA's ability to contribute to covering the financial needs required to realise the planned Investment Plan. The net financial position (NFP) at 31 December 2024 was EUR 100.4 million, EUR 90.2 million at 31 December 2023 and EUR 84.4 million at 31 December 2022.

The President Enrico Gasbarra, also on behalf of the Company's Board of Directors, thanked the Shareholders and the Board of Auditors and expressed his full satisfaction for the results achieved. "Now, full steam ahead," said the President, "with the investments on Palazzo dei Congressi, Palazzo dello Sport and 'Laghetto' to make EUR more and more a reference point for the city and international events.

Enrico Gasbarra, presidente EUR Spa

Full satisfaction was also expressed by the CEO Claudio Carserà, who said: "The Congress and Major Events sector reached this year a record of 331 days of occupation of the facilities of the congress system: Roma Convention Center La Nuvola and Palazzo dei Congressi. In 2025, the Company will have to continue its growth programme with the stabilisation and, where possible, with the improvement of income flows in the real estate sector and with the increase of volumes in the Congress and Major Events sector through the direct management of the Palazzo dello Sport, which returned to the full availability of EUR Spa in December 2024".

Amministratore Delegato di EUR Spa Claudio Carserà