At the basis of these results there are two main factors: the positive turnaround recorded by the economic and financial situation around the world after the dramatic pandemic crisis, and the ability that the Group has had to
react to the crisis
in a decisive and timely manner in terms of efficiency and process improvement, so as to be ready to seize the new opportunities that the overall restart has generated.
This favorable context is significantly reflected in the Group’s income statement, which it highlights
revenue growth of over 10%
a positive EBIT equal to 374 million Euros (with a profitability which rose from 6 to almost 10%) e
a profit of approximately 360 million euros
more than doubled compared to 2020.
Furthermore, despite significant investments in strategic acquisitions made by both MFE and Mondadori, the Group recorded a
net improvement in the debt position
, with a surplus of over 250 million euros. A figure that certifies a more than reassuring financial stability and that allows us to consider any further growth opportunities.
Consolidated revenues
of the Fininvest Group for the year 2021 amounted to € 3,817.9 million, with an increase of 10.4% compared to the 3,459.1 million in 2020 and in substantial realignment compared to pre-pandemic levels. The gross operating margin amounted to 921.6 million euros (854.8 million euros in 2020).
The operating result
of the Group is positive for € 373.8 million, a clear increase (+ 79%) compared to the € 209.1 million of 2020. The incidence on revenues rises to 9.8% (in 2020 it was 6% ). The consolidated net result is equal to 360.2 million euros, more than doubled compared to 141.2 million euros in 2020 and a marked improvement also on 2019 (220.3 million).
The net financial position
of the Fininvest Group at 31 December 2021 (considering the adjustments to the IFRS16 accounting standard) has a debt of 1,146 million euros compared to 1,397 million at 31 December 2020. The financial surplus of 251 million euros was achieved essentially thanks to a generation positive ordinary cash of 733 million euros, a figure more than doubled compared to those already considerable in 2020 and 2019. In 2021 the Group made investments for 760.2 million euros (601 million euros in 2020). The total consolidated shareholders’ equity at 31 December 2021 was equal to 4,892 million euros.
The statutory net result
of the Parent Company Fininvest SpA shows a profit of 361.2 million euros in 2021 compared to the 27 million loss of the previous year which was discounted by the elimination of the recognition of dividends of the subsidiaries due to the pandemic.
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