Caltagirone (CALT) H1 2024 earnings summary

Executive summary

• Net profit for H1 2024 reached €143.1M, up 12% year-over-year; group share €76.2M, up 10.6%.

• Consolidated operating revenues rose to €1.006B, a 3% increase, mainly from large works.

• EBITDA was €201.6M, stable year-over-year; EBIT declined 3.9% to €129.2M.

• Financial management result improved to €55.4M, driven by dividends and FX gains.

Financial highlights

• Operating revenues: €1,006.1M (+3% YoY).

• EBITDA: €201.6M (+0.6% YoY); EBIT: €129.2M (-3.9% YoY).

• Net profit: €143.1M (+12% YoY); group share: €76.2M (+10.6% YoY).

• Net financial position: €94.9M, improved by €203.4M YoY.

• Equity: €3.017B, up from €2.788B at year-end 2023.

Outlook and guidance

• Cementir Holding expects to confirm EBITDA targets and further improve net financial position.

• Vianini Lavori to focus on expanding its order book, aiming for significant revenue growth over the next three years.

• Caltagirone Editore continues digital and cost containment initiatives.

• Vianini to rationalize real estate portfolio and consolidate client base.