Italmobiliare (ITM) Q4 2024 earnings summary

Executive summary

• NAV reached €2.2bn as of December 2024, up €141m (+6.4% YoY), driven by fair value increases and strong portfolio company growth.

• Consolidated turnover rose 19.7% YoY to €701.4m, with EBITDA up 58.5% to €157.2m.

• Net profit attributable to the Group increased 40.6% to €93.6m; consolidated net profit up 26.8% to €107.3m.

• Distributed €127m in dividends in 2024, with a proposed ordinary dividend of €0.9 per share (3.3% yield), up 12.5% from 2023.

• Strong ESG integration, with all portfolio companies adopting SBTi targets and advanced sustainability policies.

Financial highlights

• NAV increased by €141m (+6.4% YoY), mainly from €79m fair value gain in portfolio companies, €26m in private equity, and €18m in other investments.

• Revenue at consolidated level: €701.4m (+19.7% YoY); EBITDA: €157.2m (+58.5% YoY).

• Net profit for the year: €107.3m; Group net profit: €93.6m.

• Liquidity and financial assets rose to €270m (+€65m YoY), supported by disposals and dividends received.

• Net financial position improved to €273.8m, mainly due to asset sales and dividends received.

Outlook and guidance

• Board proposed a €0.9 per share dividend for 2024, to be paid in May 2025.

• Focus remains on value creation through organic and M&A growth, international expansion, and ESG leadership.

• Emphasis on monitoring production chains and international distribution amid geopolitical and commercial tensions.

• Continued investment in technology, product innovation, and management quality to drive sustainable growth.