Caltagirone (CALT) H2 2024 earnings summary

Executive summary

• Consolidated revenue reached €2,140.1 million in 2024, up 7.5% year-over-year, mainly driven by growth in the construction segment.

• Net profit attributable to the Group was €130.1 million, slightly down by 0.8% compared to 2023.

• Total comprehensive income rose sharply to €449.3 million, mainly due to positive fair value adjustments on equity investments.

• The Group’s net financial position improved to €370.4 million, reflecting strong operating cash flows.

• Shareholders’ equity increased to €3,257 million, with €1,870 million attributable to the Group.

Financial highlights

• EBITDA was €439.4 million (+2.1% year-over-year), with operating income at €262.2 million (-2.3%).

• Net profit for the period was €257.5 million, down 1.5% from 2023.

• Financial income rose to €125.8 million (+15.9%), while financial expenses increased to €58.8 million (+29.6%).

• The Group distributed dividends totaling €30 million in 2024.

Outlook and guidance

• Cementir expects higher revenues and financial resources in 2025.

• Caltagirone Editore will focus on digital transformation and cost containment.

• Vianini Lavori aims to stabilize revenue growth by expanding its order book, despite a forecasted contraction in the market as PNRR funds phase out.

• Domus Italia will continue rationalizing its real estate portfolio and expanding its client base.