Corporate
Operating figures, equity and financial results for the period
| Equity and financial results (€ million) | 31/12/2021 | 31/12/2020 | Change | % change |
|---|---|---|---|---|
| Revenues | 140.2 | 131.1 | 9.1 | 7.0% |
| Costs | 179.5 | 165.6 | 13.8 | 8.4% |
| EBITDA | (39.3) | (34.6) | (4.7) | 13.6% |
| Operating profit/(loss) (EBIT) | (67.4) | (55.7) | (11.7) | 21.0% |
| Average workforce | 704 | 700 | 5 | 0.6% |
| Capex | 34.4 | 28.5 | 5.9 | 20.8% |
| Net Financial Position | 443.1 | 283.2 | 159.9 | 56.4% |
| EBITDA (€ million) | 31/12/2021 | 31/12/2020 | Change | % change |
|---|---|---|---|---|
| EBITDA - Corporate Segment | (39.3) | (34.6) | (4.7) | 13.6% |
| EBITDA - Group | 1,256.1 | 1,155.5 | 100.6 | 8.7% |
| Percentage weight | (3.1%) | (3.0%) | (0.1 p.p.) |
Year review
Corporate closed at 31 December 2021 with a negative EBITDA level of € 39.3 million, down € 4.7 million compared to 31 December 2020. The change is due to the combined effect of increased technical and IT services, consultants’ fees, electricity consumption and costs linked to the Covid emergency (including the vaccine hub), partly offset by higher cost and service chargebacks to Group companies.
EBIT is a negative € 67.4 million, down € 11.7 million on the previous year as a result of higher amortisation and depreciation relating to IT projects that have come into operation and new developments.
The average workforce at 31 December 2021 stood at 704, an increase of 4 compared to the first quarter of 2020 (there were 700 employees).
Investments amounted to € 34.4 million and increased by € 5.9 million, compared to 31 December 2020. The investments relate mainly to software licences, IT and hardware developments, as well as investments in the company offices. The increase includes € 1.6 million for the purchase of land from ATAC SpA adjacent to the headquarters and used as a car park. The acquisition was made on the basis of a competitive procedure.
Net financial position at 31 December 2021 amounted to € 443.1 million, an increase of € 161.1 million compared to the end of 2020.
This change comes from Group and Acea requirements. It should also be noted that at the end of the year the acquisition for € 129 million of the equity investment in Acea Produzione previously held by Acea Energia took place.
Significant events for the 2021 financial year
No significant events are reported during the period observed.