(Finance) – The Shareholders’ Meeting of MMa company entirely owned by the Municipality of Milan, has approved the balance sheet as of December 31, 2023. In the financial year ended, MM generated a total of revenues equal to 308 million euros (+3.2% compared to 2022) and a Net income positive by 20 million euros, “despite the unfavorable conditions of the energy and financial markets which have affected the structure of company costs”, explains the company in the accounting notes.
Positive data also for EBITDA which grew compared to last year (+39%), reaching 74.1 million euros. The investments amount to 62.2 million euros. Finally, the net financial position it decreased from 240 million euros at the end of 2022 to 209.5 at the end of 2023. Net equity stands at 266.5 million euros.
“We are satisfied with the results that emerge from the 2023 budget – he declared Simone Dragone, president of MM. From the financial statement data I underline the increase in the gross operating margin which will allow for greater and more effective investment capacity with an eye to innovative projects in the various divisions of MM. It is a fact that looks to the future and pushes us to renew our commitment in strategic sectors for citizens.”