Renco presents its 2023 Financial results

On the 13th of May, the Board of Directors unveiled Renco S.p.A’s 2023 Financial Results, highlighting a year of significant success and achievements.

Mondo Renco

2023 proved to be a year of unparalleled growth for Renco as we continued to foster the development of critical projects within its domestic and international territories.

Critical figures

Renco presented the key figures in its headquarters in Pesaro in Strada di Montefeltro. The Group recorded that from 2022 to 2023 production value growth increased by 33.5%, a total of 148,990 million euros, from 444,013 million to 593,003 million.

This result was achieved through the shared contributions of Renco’s various divisions, which include; Services, Buildings, Asset Management, and Energy. EBITDA also saw significant growth, with EBITDA (earnings before interest, taxes, depreciation, and amortisation) increasing by 22,032 million euros in absolute value an increase of +47%, from 47,303 in 2022 to 68,335 in 2023. In total balance sheet assets amounted to 1.1 billion euros. As Renco continues to expand, we remain dedicated to fostering a positive impact on local economies and, along with paying careful diligence to the plant and the environment, a balance we believe goes hand-in-hand.

' All our activities have contributed to the excellent result, certainly among them the construction of buildings stands out. We have put our technological expertise at the service of green building construction, and with this experience, we have acquired significant market shares both in Italy and abroad '

Giovanni RubiniChief Executive Officer

We are also working on some prominent projects worldwide including the construction of the Microsoft Data Center in Greece, and the start of afforestation and reforestation activities in Congo, an innovative project that will produce significant environmental benefits.

Investing in Italy

A key observation of the positive inclination of our numbers is reflected in our dedication to expanding and diversifying our services and our decisive decision to focus on the Italian market. This move has allowed us to become one of the key players in our local domestic market.

We have dedicated ourselves to making significant investments in Italy. During the presentation of the 2022 Financial Results, last year, our group announced that we would invest over 100 million euros in Italy in the biennium 23-24. This year we announced that for the next biennium, we would invest another 200 million euros.

' We are convinced that there are great opportunities in Italy for a company like ours, related to our market, therefore to construction, project finance, and energy. We believe that the PNRR and the energy transition creates a favourable environment for a healthy and structured company like Renco to invest heavily in Italy '

Giovanni GaspariniPresident

Renco has been operating in Italy since 1979. Today we are leading many exciting projects such as the construction of the new “Università Statale” of Milan at Mind, the redevelopment of the former railway station in Cortina, the construction of the new covered market in Rimini, and the installation of the hydrogen-photovoltaic plant in Falconara.

Our role is not limited to building plants or properties, it is about conveying a message of growth and development while respecting the environment and the communities in which we operate.