Fininvest Group - 2022 Financial Statements

FININVEST GROUP – 2022 FINANCIAL STATEMENTS

CONSOLIDATED REVENUES: EUR 3,822.5 MILLION
EBIT: EUR 248.4 MILLION
NET PROFIT: EUR 200.2 MILLION
DEBT: EUR 1,232.8 MILLION

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Milan, 29 June 2023 - Fininvest S.p.A. Shareholder Meeting was held today, chaired by Marina Berlusconi. It approved the Holding’s 2022 financial statements and examined the consolidated financial statements.
The Shareholder Meeting opened with a moving tribute to the founder of Fininvest, Silvio Berlusconi, recalling his entrepreneurial vision, innovative nature and great human qualities.

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Fininvest Group’s companies achieved highly satisfactory results in 2022, despite a macroeconomic context characterised by significant uncertainties. All companies maintained their leading positions in their respective markets, with a solid and unchanged long-term strategy.

Following the exceptional results of the 2021 financial year, characterised by some significant one-off components and an economic and financial environment quickly recovering from the COVID-19 crisis, the 2022 results demonstrate the resilience of the Group companies and reach back the pre-pandemic levels. The Group's income statement shows EUR 3,822.5 million revenues and an over EUR 200 million profit.

From a strategic standpoint, the companies’ investments continued: the MFE Group pushed ahead with its international growth, and the Mondadori Group continued its focus on the book sector with targeted M&A operations.
Banca Mediolanum also reached a record EBITDA of EUR 680 million.

On the sports front, 2022 was the year of AC Monza's historic promotion to Serie A.

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FININVEST GROUP CONSOLIDATED FINANCIAL STATEMENTS 2022

Fininvest Group’s consolidated revenues amounted to EUR 3,822.5 million, in line with EUR 3,817.9 million in 2021.

EBITDA stood at EUR 860.1 million (EUR 921.6 million in 2021). EBIT was positive at EUR 248.4 million (EUR 373.8 million in 2021).

Consolidated net profit amounted to EUR 200.2 million (EUR 360.2 million in 2021).

The decrease compared to the extraordinary result of 2021 is partly due to the absence of the positive non-recurring items booked in the previous year (due to the good performance of the financial markets and to the capital gain on the sale of Towertel S.p.A. by E.I. Towers S.p.A.).

The Fininvest Group's net financial position at 31 December 2022 recorded a EUR 1,072.6 million debt (before IFRS 16), compared to EUR 962.1 million at 31 December 2021. The total net financial position (after IFRS 16) amounted to EUR 1,232.8 million.

In 2022, the Group made investments of EUR 563.2 million (EUR 760.2 million in 2021).

Total consolidated shareholder equity at 31 December 2022 amounted to EUR 4,553.5 million.

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FININVEST S.P.A.

The parent company Fininvest S.p.A.’s net profit in 2022 stood at EUR 133.1 million, compared to the previous year’s EUR 361.2 million profit, benefitting from two non-recurring items: the extraordinary dividend paid by MFE and the return to the dividend distribution by Banca Mediolanum, which paid both a dividend from the years 2020 and 2021, and a coupon dating back to 2019 (suspended during the Covid period, as per recommendations issued by the Supervisory Authority of the European Central Bank and the Bank of Italy).