Unaudited consolidated revenues first nine months 2024

The Board of Directors approved the unaudited consolidated revenues as of September 30, 2024. The Group reported revenues of €270.0 million, a slight decline from the €280.0 million recorded in the same period of 2023. This decrease was primarily driven by a slowdown in the Mestieri and Talenta divisions, partially offset by robust growth in the Horizons division. Horizons delivered strong results, particularly in naval refitting and the U.S. curtain wall sector, a key market accounting for nearly half of the Group’s business.

Somec Chairman Oscar Marchetto said: “In a complex international context, we are recording solid revenues growth in the Horizons division, driven by the favourable momentum in the cruise industry and our established expertise in refitting projects, areas where we have extensive experience. Although the Talenta and Mestieri divisions have experienced a different time trend in advancing certain contracts, with an order backlog of €783mn as of June 30, 2024, and new contracts acquired worth over €100mn, we are confident on the FY2024 outlook. We will focus particularly on the United States, a region where we intend to strengthen our already solid position, taking advantage of the many opportunities offered by a very dynamic market”.