Corporate
2022 in numbers
| Economic and financial results (€ million) | 2022 | 2021 | Change | % Change |
|---|---|---|---|---|
| Revenues | 152.2 | 140.2 | 12.0 | 8.5% |
| Costs | 195.9 | 179.5 | 16.4 | 9.1% |
| EBITDA | (43.7) | (39.3) | (4.4) | 11.3% |
| Operating profit/(loss) | (83.7) | (67.4) | (16.3) | 24.2% |
| Average workforce | 717 | 704 | 13 | 1.8% |
| Capex | 32.7 | 34.4 | (1.7) | (5.0%) |
| Net Financial Position | 471.6 | 443.1 | 28.5 | 6.4% |
| EBITDA (€ million) | 2022 | 2021 | Change | % Change |
|---|---|---|---|---|
| EBITDA – Corporate Segment | (43.7) | (39.3) | (4.4) | 11.3% |
| EBITDA – Group | 1,305.0 | 1,256.1 | 48.9 | 3.9% |
| Percentage | (3.3%) | (3.1%) | (0.2 pp) |
Year review
Corporate closed at 31 December 2022 with negative EBITDA of € 43.7 million, worse by € 4.4 million than the figure for 2021. The change is due to the combined effect of higher costs, particularly IT costs, offset only partly by the higher chargebacks to Group companies. Strategic consulting and higher personnel expenses contributed to the increase in costs; the latter are due essentially to the trend in numbers and contractual adjustments offset in part by higher capitalised costs. We can note compared to the previous year a reduction in costs incurred for the COVID-19 emergency.
EBIT was negative at € 83.7 million, € 16.3 million worse than the previous year as a result not only of the reduction in EBITDA described above but also of higher amortisation and depreciation relating to IT projects that came into operation in the last months of last year and in the first months of the current year, as well as higher provisions for redundancies and mobility. Greater amortisation includes that relative to IT investments for application development.
The average workforce at 31 December 2022 stood at 717, an increase of 13 compared to 2021 (704 units).
Investments amounted to € 32.7 million at 31 December 2022 (€ 34.4 million at 31 December 2021) and mainly refer to software licenses, hardware, IT development and investments in company offices.
The net financial position at 31 December 2022 was € 471.6 million and recorded an increase compared to the end of financial year 2021 of € 28.5 million, which derived from the cash needs of Group companies and corporate.
Significant events for the 2022 financial year
No significant events were reported during the year.