PRESS RELEASE
Nocivelli ABP reports double-digit top line growth for FY 24/25: Value of Production Euro 85.2 million (+11.3%), backlog rises to Euro 1.9 billionDividend of Euro 0.07 per share proposed
FY 24/251Key financial highlights:
Value of Production: Euro 85.2 million, +11.3% (Euro 76.5 million in FY 23/24);
Revenues: Euro 81.5 million, +14.7% (Euro 71.1 million in FY 23/24);
EBITDA: Euro 16.8 million, +10.3%, EBITDA margin 19.7% (Euro 15.2 million in FY 23/24, EBITDA margin 19.9%);
EBIT: Euro 14.2 million, +8.6%, EBIT margin 16.6% (Euro 13.0 million in FY 23/24, EBIT margin 17.1%);
Net Profit: Euro 11.5 million, +7.2% (Euro 10.7 million in FY 23/24);
Net financial position: cash positive for Euro 62.4 million (positive for Euro 53.0 million at December 31, 2024; positive for Euro 47.7 million at June 30, 2024);
Shareholders' Equity: Euro 81.6 million, +13.3% (Euro 76.8 million at December 31,
2024); Euro 72.0 million at June 30, 2024);
Backlog at June 30, 2025, Euro 1.9 billion;
Dividend of Euro 0.07 per share proposed
Castegnato (Brescia), September 26, 2025 - The Board of Directors of A.B.P. Nocivelli S.p.A., an EsCo Company specialized in building technological systems and facility management services, and a nationwide Public-Private Partnership clinic and hospital construction leader, listed on the Euronext Growth Milan's segment (ISIN Code IT0005439861, Ticker ABP:IM), in a meeting today chaired by Bruno Nocivelli, has approved the statutory financial statements for the financial year ending June 30, 2025.
Bruno Nocivelli, Chairperson of the Board of Directors of Nocivelli ABP stated: "We continue to grow sustainably, creating value not only for our shareholders and customers, but also for the community. We are proud to be a reliable partner for public sector entities and state-owned investee companies. We invest in internal growth and people, believing that expertise and experience are the main drivers of our results. The contracts awarded confirm our ability and commitment to modernize the national housing stock, generating concrete benefits for the entire country".
Nicola Turra, Chief Executive Officer of Nocivelli ABP, stated: "We are very pleased with the results for the financial year, which confirm the solidity and growth momentum of the
1 Following the merger of RPP S.R.L. Run Power Plants into Nocivelli S.p.A., the figures at June 30, 2025 of Nocivelli
S.p.A. are compared with the consolidated financial statement figures at June 30, 2024 in which RPP S.R.L. Run Power Plants was fully consolidated.
Company. The key indicators highlight double-digit growth, the result of a clear strategy and the ability to win major contracts. In particular, the 'jumbo projects' for the Piedmont healthcare system brought our backlog to a record level of Euro 1.9 billion, ensuring solid margins and substantial cash generation. The market is supported by extremely favorable tailwinds: new opportunities are emerging which the company is tapping into by participating in numerous (and also large) tenders. We look to the coming fiscal years with renewed confidence".
FY 24/25 KEY FINANCIAL HIGHLIGHTS Value of Production reaches Euro 85.2 million, up sharply (+11.3%) from Euro 76.5 million in FY 23/24. Sales revenues amounted to Euro 81.5 million, increasing on Euro 71.1 million in the previous financial year. This is largely due to the higher revenues for plant construction works completed in FY 24/25. Material costs totaled Euro 19.3 million, increasing 20.7% on Euro 16.0 million in FY 23/24. Service costs of Euro 41.5 million rose 8.1% on approx. Euro 38.4 million in FY 23/24. Personnel expense amounted to Euro 5.2 million, a slight increase of 7.6% on FY 23/24 (Euro 4.9 million). Total operating costs of Euro 68.5 million increased 11.7% on the previous financial year. EBITDA was Euro 16.8 million, with an EBITDA Margin of 19.7%. This represents a 9.7% increase in absolute terms (Euro 15.2 million in FY 23/24). EBIT reached Euro 14.2 million (EBIT Margin of 16.7%), up 9.4% on the previous financial year (Euro 13.0 million).The Net Profit of Euro 11.5 million was up 7.5% on FY 23/24 (Euro 10.7 million).
Shareholders' equity of Euro 81.6 million increased both on the half-year (Euro 76.8 million) and on the previous year (Euro 72.0 million), confirming the excellent capital strength.The Net Financial Position remains comfortably in positive territory at Euro 62.4 million (Euro 53.0 million at December 31, 2024 and Euro 47.7 million at June 30, 2024), confirming a financial solidity which allows the Group to grow and operate without taking on debt.
BACKLOGBased on the available data, the backlog at June 30, 2025 was Euro 1.9 billion, of which Euro 1.5 billion from orders already contracted and Euro 400 million from the order for the new Novara hospital complex already awarded last July which is expected to be signed in the coming months. This portfolio consists mainly of public concessions and multi-year contracts that offer the possibility of regular revenue and solid profitability and cash generation.
SIGNIFICANT EVENTSIn September 2024, as part of a temporary consortium (RTI) with the SIS Consortium, the Company was awarded the Public-Private Partnership contract for the construction and management of the City of Turin Health, Research and Innovation Park. The contract was formally signed in April 2025. The signing represents a decisive operational step for the launch of the project, which was already made official in the Official Journal of the European Union in January 2025.
On June 23, 2025, the deed of merger of RPP S.r.l. Run Power Plants into Nocivelli was executed. The Company, which held 100% of the share capital of RPP S.R.L. Run Power Plants, took over all the assets and liabilities of the incorporated RPP S.R.L. Run Power Plants and all of its rights, interests and entitlements, in addition to all obligations, commitments and liabilities of any kind. The accounting effects of the merger run from July 1, 2024.
SUBSEQUENT EVENTSOn July 24, 2025, Nocivelli in a temporary consortium (RTI) with Consorzio Stabile SIS
S.c.p.A. announced the award of the tender for the construction and management of the "City of Health and Science" in Novara. The PPP contract will have a duration of 30 years, including 5 years of works and 25 years of service management. The total value of expected revenues for the entire duration of the concession is Euro 1.2 billion. Nocivelli ABP's share is approx. Euro 400 million, consisting of approx. Euro 200 million for the construction of the works, in the first five years, and a further approx. Euro 200 million in the next 25 years for facility management services. The contract is expected to be signed after the Services Conference, presumably in the first half of 2026.
OUTLOOKNocivelli positively assesses operating developments, forecasting stable and growing profitability also over the coming years. Industrial, commercial and service activities are proceeding as expected, with contracted services continuing to be provided on schedule and with satisfactory profits.
The Company maintains an active presence in major bidding processes, with a particular focus on conventions and contracts for the upgrading of healthcare and hospital facilities, with a focus on modernization and compliance with specific regulations, such as earthquake and fire prevention. In parallel, the execution of contracts funded under the National Recovery and Resilience Plan continues, with completion expected within the next two financial years.
Accredited as a supplier to Terna S.p.A. for a ceiling of Euro 25 million, the Company is completing work on tenders already awarded, with a total value of approx. Euro 8 million, and continues to participate in new tenders that are expected to be concluded by December 31, 2025.
Having qualified as a Supplier for Enel S.p.A., RFI S.p.A. and Leonardo S.p.A., the Company has taken part in numerous tenders, and with reference to a number of awards with a total value of approx. Euro 0.5 million. The start of the initial works is expected by the end of 2025.
PROPOSAL FOR THE ALLOCATION OF THE NET PROFIT FOR THE YEARThe Board of Directors approved the proposal to the Shareholders' Meeting for the following allocation of the net profit of Euro 11,546,467.64:
Euro 2,131,500 as dividend, equal to Euro 0.07 per share;
Euro 9,414,967.64 to the extraordinary reserve.
The dividend coupon date is November 10, 2025, with a record date of November 11, 2025, and with payment on November 12, 2025.
SHAREHOLDERS MEETING CALL AND FILING OF DOCUMENTATIONThe Board of Directors has called the Ordinary Shareholders' Meeting for October 28, 2025 and, where necessary on October 29, 2025, at the date and times to be announced in the relative call notice to be published according to the means and deadlines set out by the applicable rules and regulations. The Shareholders' Meeting call notice, which shall be published according to the statutory law and By-Law deadlines, shall indicate also the method to participate at the Shareholders' Meeting. The documentation relating to the matters on the agenda will be made available at the Company's registered office and on the website https://www.abpnocivelli.com ("Investor Relations" section) in accordance with the applicable rules.
CONFERENCE CALL WITH THE FINANCIAL MARKET FOR THE PRESENTATION OF THE ANNUAL RESULTS AT JUNE 30, 2025On September 29, 2025 at 10.30 CEST, Nocivelli ABP's management will hold a conference call to present the annual results to the financial community and the press.
You may participate in the conference call by connecting to the following link: https://us06web.zoom.us/j/84166882253?pwd=Oj3FF76GcgXkt0QPXxEguyowKUeADL.1
The support documentation shall be published in the "Investor Relations" section on the company website (https://www.abpnocivelli.com) before the conference call.
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The key Income Statement, Statement of Financial Position and the Net Financial Position tables for the FY to June 30, 2025 are presented on the following pages.
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This Press Release is available on the company website at https://www.abpnocivelli.com, in the "Investor Relations/Press Releases" section and at https://www.1info.it.
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Nocivelli ABP was founded in Castegnato (Brescia) in 1963 and initially traded in petroleum products and lubricants. In 1988 it diversified into the construction of technological, mechanical and electrical systems, in addition to civil and industrial construction and Facility Management. It is today a national leader in Public Private Partnership (PPP) operations for the construction of healthcare and hospital facilities. The Group is headquartered in Castegnato (BS) and has operational offices in Brescia, Novara and Ponderano (Biella). Bruno Nocivelli is the Chairperson of the Board of Directors, while Nicola Turra serves as Chief Executive Officer. The Company's Value of Production in FY 24/25 was Euro 85.2 million, with EBITDA of Euro 16.8 million and a Net Profit of Euro 11.5 million.
Contacts ABP Nocivelli S.p.A. Investor Relations ManagerStrada Padana Superiore Alessandra Perego
No. 67 25045 Castegnato (BS) Tel: + 39 030 2142011
https://www.abpnocivelli.com Email: investor.relations@abpnocivelli.com
IR & Media Relations Advisors TWIN
Email: nocivelli-spa@twin.services Mara Di Giorgio | Tel: +39 3357737417 Giorgia Fenaroli | Tel: + 39 3342208486
Euronext Growth Advisor Banca Mediolanum SpA Tel. 02.9049.2525
Email: ecm@mediolanum.it
