Fininvest, profits up and 100 million dividend despite Monza
The Berlusconi family's holding company closed its financial statements with +3% revenues and +5.5% operating profit. Absorbed the 121 million write-down for the relegation of Monza and the donation to the Doris Foundation
2' min read
2' min read
Consolidated revenues up 3% to EUR 3.985 billion; operating profit up +5.5% to EUR 280.7 million; net profit up 4.2% to EUR 263.5 million. And as verified by Il Sole 24 Ore, the dividend will stand at EUR 100 million.
The Fininvest shareholders' meeting, chaired by Marina Berlusconi, gave the OK to the parent company's financial statements and examined the consolidated one. And the forecast is to draw a cheque that is double the 51 million of the previous financial year, but in line with the 100 million for the 2022 budget. This is a clear signal: the family safe is solid, capable of absorbing even significant blows such as the 121 million write-down linked to Monza's relegation to Serie B.
Yes, because if it is true that the parent company's profit has fallen drastically - just EUR 2.7 million against EUR 101 million last year - the reason is written in black and white and sounds more like a choice than a debacle. "Two non-recurring factors have a significant impact on the holding company's result: the donation of 60 million to the Ennio Doris Foundation, with which Silvio Berlusconi's sons honoured what was their father's will, and the devaluation of AC Monza after the move to Serie B, which weighed in at 121 million," explains Danilo Pellegrino, Fininvest's CEO, without mincing words. 'Net of these two non-recurring components, this year's profit grew by over 30%: accounting is one thing, the fact that our listed companies are growing with excellent results is another'.
Looking at the investee companies, the picture clarifies Pellegrino's words to Il Sole 24 Ore. Mediolanum continues to grind out record profits, Mondadori pushes on books and digital, and Mfe (the new name of the Mediaset group designed to accompany the cross-border expansion project of the TV channel led by Pier Silvio Berlusconi) sees an increase in dividends, revenues and advertising sales.
The group's numbers speak for themselves, including a debt that has fallen by over 150 million in one year. An improvement that gives breathing space and confidence, so much so that Pellegrino claims the choice of the maxi-dividend: 'We believe it is fair to remunerate shareholders on the basis of the performance of our companies, regardless of one-off interventions such as the impairment of Monza. Our financial situation largely allows us to do so'.
