MILAN, Aug. 4 (Class Editori) -- Thanks to state aids, Edilizi Acrobatica doubled its turnoverto 37.5 million. The first entry of the prefinal financial statements grew by 113.3% y-o-y, +92% compared to the same period of 2019, thus exceeding pre-COVID-19 results. In Italian building sites, volumes increased by 127.1%, while the franchising network alone provided 9.7-million-euro worth services, namely almost doublingQ1 2020 5 million.
As explained by the company's CEO Riccardo Iovino, results have been reached thanks to "incentive measures as the Bonus Facciate 90%, one of the subsidies related to the economic recovery which aims to promote building improving and securing works." According to the CEO, half-year data prove the effectiveness of the business model of EdiliziAcrobatica, which even during the pandemic "has continued to hire staff in contrast to indiscriminate dismissal policies". So much so that in the first half of 2021, in the commercial sector alone, employees rose 37% to 149 workers. Overall, the company specialized in building renovations has over 1,200 employees.
As for territorial distribution, in the first six months of 2021 10 new direct operating offices were opened in Italy, now amounting to 69, while, outside Italian borders, the French subsidiary EdiliziAcrobatica France Sas closed the half-year report with 1.7-million revenues (+21.4% y-o-y). On the other side of the Alps, the Group has 74 employees in the cities of Lyon, Narbonne, Toulouse, Perpignan, Nice, Montpellier and Marseille.
On the Italian Stock Exchange of Milan, EdiliziAcrobatica grew by 0.38% to 13.15 euros, with a 2.6% decrease compared to Intesa Sanpaolo’s 13.5-euro target price. The investment bank confirmed its buy rating and particularly appreciated "the company's business profile and its unique competitive position, strengthened by widespread presence in Italy, by growth in France and by expansion strategy in the rest of Europe". (All rights reserved)
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