(Finance) – The Board of Directors of Cinecittà has unanimously approved the 202 financial statements3 with a net operating profit of 1.3 million euros, with a positive pre-tax result of 1.8 million euros. There Membersty is confirmed as profitable for the second consecutive year, also achieving the consolidation of the net equity and the increase in the initial share capital.
EBITDA, equal to 3 million euros, demonstrates the efficiency of operational management, exceeding the already positive figure of the 2022 budget. The budget result as of 12.31.2023 certifies industrial revenues of over 46 million euros, up 20% compared to the previous year. In the three-year management period 2021-23, the Company thus reaches a total turnover from industrial activities of 100 million euros. The net profit of the 2022 financial statements was 954 thousand euros, the pre-tax result was 1.3 million euros.
Cinecittà therefore confirms solid and structural growth and consolidates the its role as leader on the national and international market, becoming a driving force of stable growth for the entire sector. The industrial relaunch, the valorisation of existing assets, the redefinition of the business model and the consequent commercial repositioning (including the development of new commercial strategies linked to stage constructions), a renewed approach to branding, the rationalization and efficiency of production processes – explains the note – have determined the full occupancy of the production spaces, stable at over 70%, and the increase in the turnover of the Art Department services, with a +16% compared to 2022.
In detail, the turnover recorded by individual industrial areas: Theatres, Scenography and Events area 40.4 million euros of which 21.7 million relating to the Art Department and Scene Constructions, Post-Production 3.1 million euros, Cinecittà si Mostra 823 thousand euros, other revenues 2, 6 million euros.
As for the progress of the PNRR Project “is currently in line with the European and national targets and all the activities necessary to achieve the latest European target, set for 30 June 2026, have been started. By June 2023, in fact, the 9 European tenders linked to the 5 new theaters and the 4 to be renovated, within the timescales set by the European Commission. An important result has already been achieved: the first theater (Teatro 7) has been completed and is about to host the first productions. By June 2026 Cinecittà will grow by 60% in its production capacity (from 18 thousand square meters to 30 thousand) and will have 25 functioning theaters. At that point there will be no audiovisual product that cannot be created in Cinecittà.”