De Benedetti's Romed returns to profit thanks to crypto bet

Romed, Carlo De Benedetti's holding company, is back in the black. The board of directors of the holding company, chaired by Riccardo Zingales and led by CEO Luisa Graziani, yesterday approved the accounts for 2024, which marked a clear turnaround from the recent past. If 2022 had closed with a red of EUR 44 million and 2023 with a loss of just under EUR 20 million, last year was closed with a profit of EUR 1.1 million.

A number that will be ratified by the shareholders' meeting called for 14 November next, and which is the result of a combined series of factors that, however, revolve around a key pillar: a change of strategy at the investment level. A reversal of direction, it was said, certified by the numbers, considering that the 1.1 million in profits came after provisions and write-downs of 9.1 million and taxes, mostly imputed, of 5.1 million. Which, translated, means an operating result close to EUR 15 million against bank debts of around EUR 100 million and assets that have risen to EUR 51.6 million from EUR 50.4 million.

But what generated this change of pace? Fundamentally, the investment choices made during 2024, which were centred around two major assets: cryptocurrencies and metals. A positive trend, as we understand it, which was also confirmed during 2025, albeit by means of different strategic choices made at the beginning of the new financial year. Another crucial aspect will be added to this, namely the fact that one of the investments made through private equity funds has matured. Because of this, an operating result in line with the previous year is expected for this year. This is also the result of a renewed approach at an organisational level, considering that the internal staff operating in the financial markets has been enlarged and strengthened, and that the monitoring of choices has become something that is constantly analysed and evaluated in order to make the most of any opportunities that arise. Against this backdrop, the company has also changed its governance, set up an auditing company for the legal control of the accounts (which put the seal on the 2024 financial statements) and moved its headquarters to Milan.

Not only that, some changes were also made to the equity investment portfolio. In particular, 4.3% of Arum, the company that holds just over 20% of the listed agricultural group Bf, the former Bonifiche Ferraresi, was sold. With regard to publishing activities, the control of Editoriale Domani (which publishes the newspaper of the same name) was replaced by Romed, which has supported the initiative since its inception. The decision was taken in order to continue the publishing project in total independence.

Romed, for its part, retained 6.1% of Betaglue Technologies, 6.4%, 10.9% and 16.1% of medtech vehicles Twh Eye, Twh Hypertension and Twh Hypertension 3, but in recent months SoniVie, one of the assets attributable to the Twh galaxy, was sold.