PRESS RELEASE
ABITAREIN: DRAFT FINANCIAL STATEMENTS AND CONSOLIDATED FINANCIAL STAMENTS AS AT 30/09/2025 APPROVED THE ADMINISTRATIVE STANDSTILL IN THE ISSUANCE OF NEW PERMITS PERSISTS OPENING OF THE FIRST RESIDENTIAL RENTAL BUILDING IN A CO-LIVING FORMULA BY THE SUBSIDIARY HOMIZY LAUNCH OF A NEW JOINT VENTURE FOR A PROJECT OF MORE THAN 200 APARTMENTS IN ROME CONSOLIDATED REVENUE OF €105 MILLION CONSOLIDATED EBITDA OF €11 MILLION FINANCIAL HIGHLIGHTSConsolidated figures as at 30 September 2025 - prepared in accordance with IFRS international accounting standards:
- CONSOLIDATED REVENUES AMOUNT TO €104.6 MILLION (€74.8 million as of 30.09.2024)
- CONSOLIDATED EBITDA AMOUNT TO €11.2 MILLION (€17.0 million as of 30.09.2024)
- CONSOLIDATED EBT (EARNINGS BEFORE TAXES) €1.8 MILLION (€10.2 million as of 30.09.2024)
- CONSOLIDATED NET PROFIT ATTRIBUTABLE TO THE GROUP AMOUNTS TO €0.2 MILLION (€5.8 million as of 30.09.2024)
- CONSOLIDATED NET FINANCIAL DEBT AMOUNTS TO €150.8 MILLION (€89.1 million as of 30.09.2024 )
-
CONSOLIDATED EQUITY ATTRIBUTABLE TO THE GROUP AMOUNTS TO €107.7 MILLION (€107.3 million as of 30.09.2024)
Key data of the parent company Abitare In S.p.A. as of September 30, 2025 - prepared in accordance with International Financial Reporting Standards (IFRS):
- REVENUES AMOUNT TO € 12.9 MILLION (€11.1 million as of 30.09.2024)
-
EBT AMOUNT TO € 3.2 MILLION (€12.9 million as of 30.09.2024)
HIGHLIGHTS AT THE CURRENT DATE:
Abitare In S.p.A.
Registered office: Via degli Olivetani 10/12, 20123 Milan - Operating Headquarters: Viale Umbria 32, 20135 Milan
Company listed on Euronext Milan, Euronext STAR Milan segment (ticker ABT.MI) - VAT no. 09281610965 - Tel. +39 / 02 - 67 02 550
info@abitareinspa.com - abitareinspa.pec@mypec.eu
Share capital Euro € 133,003.90 fully paid in - Share premium reserve: Euro 41,080,488
- PIPELINE, PROJECTS UNDER DEVELOPMENT (net of deeds performed): 220,4001- COMMERCIAL SQUARE METERS FOR 2,420 UNITS2
- AVERAGE COST OF ACQUIRING COMMERCIAL AREA: € 645/SQM
- ORDERBOOK: 375 UNITS2FOR €171 MILLION
- DEPOSITS/ADVANCES BASED ON PRELIMINARY CONTRACTS: €50 MILLION
- UNITS DELIVERED3: 9184FOR €353 MILLION
- MORTGAGE LOANS APPROVED: €184 MILLION, OF WHICH €101.8 MILLION UTILIZED
Milan, December 11, 2025
The Board of Directors of AbitareIn S.p.A. (the "Company" or "AbitareIn"), a Milan-based company and leader in residential development, listed on the Euronext Milan market, Euronext STAR Milan segment (Ticker: ABT.MI), has today approved the draft financial statements and consolidated financial statements as of September 30, 2025.
Luigi Gozzini, Chairman, commented: "The last two years have been strongly influenced by a situation of abnormal complexity, which has given rise, and continues to give rise, to significant impacts on the city of Milan - and progressively on the entire country - on the real estate sector and on our Company. We confirm our path of adherence to the new regulations introduced by the Municipality of Milan for the issuance of authorisation permits, ready to see the climate of confidence in the sector restored and to return to full operativity, although we do not yet have full visibility on the timing, as we await a national legislative measure on urban regeneration that will remedy the current housing emergency that is pushing many young people and many families out of the city. These two years of standstill have had significant effects on our results, with an increase in costs that has inevitably affected our margins."
Marco Grillo, CEO, added: "We are maintaining our focus on operational activities for the development and delivery of ongoing projects, as well as on the creation of new partnerships, such as the one recently launched with a leading international operator for a residential project of over 200 apartments in Rome, and on the diversification of business strategies, in line with the new market context. We are also very pleased with the launch of Homizy's first building, a residential property of approximately 360 rooms in Via Tucidide, rented under the co-living formula, which in recent days has seen the arrival of the first co-residents."
1 Of which 19,900 sqm to be developed as regulated-price housing (edilizia convenzionata and/or edilizia concordata) and 16,800 square meters under development by Homizy for income generation in the co-living setup
2 The number of apartments, assuming an average size of 92 square meters for marketable free housing and 82 square meters for ERS (Social Housing Rental), might vary based on the customization of the housing unit sizes, despite maintaining the overall square footage. The actual count of constructed apartments and signed contracts may differ due to this customization
3 Cumulative data of all apartments delivered by the Group
4 No. of apartments recalculated on the basis of the average size of the "standard units".
Abitare In S.p.A.
Registered office: Via degli Olivetani 10/12, 20123 Milan - Operating Headquarters: Viale Umbria 32, 20135 Milan
Company listed on Euronext Milan, Euronext STAR Milan segment (ticker ABT.MI) - VAT no. 09281610965 - Tel. +39 / 02 - 67 02 550
info@abitareinspa.com - abitareinspa.pec@mypec.eu
Share capital Euro € 133,003.90 fully paid in - Share premium reserve: Euro 41,080,488
Summary of the main consolidated financial results as at 30 September 2025
The financial year ended 30 September 2025 saw CONSOLIDATED REVENUE equal to EURO 104.6 million, deriving from:
- Sales revenues amounted to €30.6 million (€16.31 million as of 30.09.2024)
- €30.7 million positive change in inventories due to progress in real estate development projects, net of inventory reductions resulting from the delivery of apartments to clients (€45.7 million negative change as of 30.09.2024). Production progress amounts to €91.6 million (€ 67.6 million as of 30.09.2024 including the progress of works on the properties destined for rental under the co-living formula of the Homizy Group;
- Inventory variation of €10.5 million due to the acquisition of new real estate complexes (€2.7 million as of 30.09.2024).
-
€ 32.8 million of other operating revenues (€ 10.2 million as of 30.09.2024) including mainly:
the increases in property, plant and equipment under construction relating to investments in properties intended for rental in the form of co-living held by the subsidiaries Smartcity Siinq S.r.l. and Deametra Siinq S.r.l., for an amount of €10.1 million and €17.3 million respectively;
contribution for building bonuses for a total amount of €2.2 million;
other revenues for services to third parties relating to pre- and post-sales services by the holding company AbitareIn for an amount of €0.8 million.
EBT is also negatively impacted, by around €4 million, by an increase in costs on the Porta Naviglio Grande contract, due to the supervening need to urgently replace the contractor in the final stages of the construction site.
The Porta Naviglio Grande project is in the process of completing the second building, scheduled by summer 2026, while the first building has already been delivered to customers in the first months of the 2025 calendar year.
THE GROUP'S CONSOLIDATED NET PROFIT amounts to €0.2 million (€5.6 million as of 30.09.2024).Abitare In S.p.A.
Registered office: Via degli Olivetani 10/12, 20123 Milan - Operating Headquarters: Viale Umbria 32, 20135 Milan
Company listed on Euronext Milan, Euronext STAR Milan segment (ticker ABT.MI) - VAT no. 09281610965 - Tel. +39 / 02 - 67 02 550
info@abitareinspa.com - abitareinspa.pec@mypec.eu
Share capital Euro € 133,003.90 fully paid in - Share premium reserve: Euro 41,080,488
The GROUP'S NET FINANCIAL DEBT amounts to €150.8 million (€89.1 million as of September 30, 2024). of which more than €119.6 million relates to projects in progress. The change is mainly attributable to ordinary activities, with total investments of €84.6 million, the payment of advances relating to the future purchase of new areas, for €1.5 million, and the purchase of new areas for €5.5 million (net of advances already paid in previous years), against cash inflows deriving mainly from the deeds of sale of the real estate units for a total amount of around €23.3 million and from deposits and advances collected in relation to the preliminary agreements for the marketed projects, for an amount of around €4.8 million.
Financial Debt 30.09.2025 amounts in Euro units | 30.09.2025 | 30.09.2024 | Change |
| 4,900,576 -3,004,692 | 13,776,733 -9,317,621 | (8,876,157) -(6,312,929) |
D. Liquidity (A) + (B) + (C) | 7,905,268 | 23,094,354 | (15,189,086) |
E Current financial payables F. Current portion of non-current debt | 2,452,795 51,046,867 | - 16,382,080 | - 34,664,787 |
G. Current financial debt (E) + (F) | 53,499,662 | 16,382,080 | 37,117,582 |
H. Net current financial debt (G) - (D) | 45,594,394 | (6,712,274) | 52,306,668 |
| 105,190,031 - - | 95,827,647 - - | 9,362,384 - - |
L. Non-current financial debt (I) + (J) + (K) | 105,190,031 | 95,827,647 | 9,362,384 |
M. Total financial debt (H) + (L) | 150,784,425 | 89,115,373 | 61,669,052 |
Key economic and financial results of the Company as of September 30, 2025
The revenues of the parent company AbitareIn as at 30 September 2025 amount to €12.9 million and are mainly due to revenues from service agreements and intellectual property remuneration agreements entered into with the operating vehicles.
Profit, amounting to €1.1 million, derives mainly from financial management.
Allocation of the profit for the fiscal year
The Board of Directors has decided today to propose to the Shareholders' Meeting, convened for the approval of the financial statements closed on September 30, 2025, to allocate profit to retained earnings.
Overview of the Development Pipeline
Abitare In S.p.A.
Registered office: Via degli Olivetani 10/12, 20123 Milan - Operating Headquarters: Viale Umbria 32, 20135 Milan
Company listed on Euronext Milan, Euronext STAR Milan segment (ticker ABT.MI) - VAT no. 09281610965 - Tel. +39 / 02 - 67 02 550
info@abitareinspa.com - abitareinspa.pec@mypec.eu
Share capital Euro € 133,003.90 fully paid in - Share premium reserve: Euro 41,080,488
As of today, the development pipeline of the group headed by AbitareIn (the "Group") consists, net of completed and delivered projects, of 20 sites, covering approximately 220,4005sqm of commercial area, corresponding to around 2,420 standard-sized apartments6. These sites are located in various semi-central and semi-peripheral areas of the City of Milan, within high-growth potential contexts.
Of the apartments in the pipeline, 3757apartments have been sold to date (on a preliminary basis), with a total value of approximately €171 million. Contractual advances (secured by insurance surety bonds) amount to €50 million, and 3117apartments are currently under construction.
Units Delivered
To date, the Group has delivered 918 apartments7, with a total value exceeding €350 million. Approval of the Corporate Governance and Ownership Structures Report as of September 30, 2025
In today's session, the Board of Directors also approved, for submission to the ordinary Shareholders' Meeting:
- The Corporate Governance and Ownership Structures Report for the fiscal year 2025, prepared in accordance with Article 123-bis of Legislative Decree No. 58 of February 24, 1998, and its subsequent amendments and integrations ("TUF").
The report will be made available to the public, as required by law, at the Company's registered office, Via degli Olivetani 10/12, Milan, and on the Company's website https://www.abitareinspa.com, under the Corporate Governance/Shareholders' Meetings section.
Verification of Independence Requirements of the Company's Directors and Auditors
The Board of Directors today verified, based on statements made by the Company's Directors and Auditors, and additional information available:
- The compliance of directors Mario Mazzoleni, Nicla Picchi, Giuseppe Vegas, Antonella Lillo e Stefano Massarotto with the independence requirements established by the current articles of association, Article 147-ter and Article 148, paragraph 3, of the Italian Consolidated Financial Act ('TUF'), as well as
5 Of which 19,900 sqm to be developed as regulated-price housing (edilizia convenzionata and/or edilizia concordata) and 16,800 square meters under development by Homizy for income generation in the co-living setup
6 The number of apartments, assuming an average size of 92 square meters for marketable free housing and 82 square meters for ERS (Social Housing Rental), might vary based on the customization of the housing unit sizes, despite maintaining the overall square footage. The actual count of constructed apartments and signed contracts may differ due to this customization.
7 Cumulative data of all apartments delivered by the Group
Abitare In S.p.A.
Registered office: Via degli Olivetani 10/12, 20123 Milan - Operating Headquarters: Viale Umbria 32, 20135 Milan
Company listed on Euronext Milan, Euronext STAR Milan segment (ticker ABT.MI) - VAT no. 09281610965 - Tel. +39 / 02 - 67 02 550
info@abitareinspa.com - abitareinspa.pec@mypec.eu
Share capital Euro € 133,003.90 fully paid in - Share premium reserve: Euro 41,080,488