FY2024 results: revenues growing to 383 million euros (+3.2%)

Somec S.p.A. approved the draft financial statements at 31 December 2024 and the consolidated financial statements at 31 December 2024, including the Group report on sustainability.

The Group’s revenues totalled 382.8 million Euro, up 3.2% on the figure of 371.0 million Euro recorded at 31 December 2023, driven by the growth in activity and positive performance of the Horizons BU – Engineered

Systems for Naval Architecture and Building Façades results for naval refitting activities were outstanding, seizing the many opportunities offered by present-day demand.

Margins improved greatly compared to the same period of 2023, with an EBITDA adjusted of 30.1 million Euro (EBITDA margin adjusted of 7.9%). The 65.5% increase was the result of greater efficiency in terms of operating costs and higher added value orders, particularly in the refitting sector and in the North American glazing market, which were the main profit drivers in the period under review.

The pre-IFRS 16 net financial position at 31 December 2024 stood at 36.1 million Euro (60.1 million Euro in 2023). This positive performance can be traced to higher operating cash inflow, improving overall financial soundness.