Our Board of Directors approved our consolidated financial results and the draft budget for the fiscal year 2017.
Revenues reached €47,9 million, increasing by 47% compared to 2016, driven by the growth of our Industry division dedicated to Digital Transformation services (€35.2 million revenues, +25%), and of Education division (that tripled to €10.5 million revenues). With an invested capital of €26,4 million since our establishment in 2005 (€1.4 million just in 2017), our Investments division supported the establishment and growth of 116 innovative companies, with a return of €16 million. EBITDA is negative at -€1.6 million, a strong improvement compared to 2016.
With 124 new hires in 2017, we are now 521 people working in our 5 offices located all over Italy.
Our founder Riccardo Donadon declared:
"We closed 2017 even better than we expected, with a revenue growth of almost 50% and a strong improvement in margins as well. In just 2 years we have completely transformed our project, assuming a significant and international role both on the education market and the digital transformation market.
This result confirms that, since our admission to the AIM segment of the Italian Stock Exchange in 2015, we have been on the right path. This journey has led us from investor and accelerator in the digital sector to a unique reality capable to bring together investments, innovation and education in one place.
In the second half of the year we decided to invest a lot in our school project and we will soon see the results; we have many international confirmations of our vision.With the closing of the 2017 financial report, we have advanced through our second level, now we have to unlock the third level and scale our model, then we can really “take off”.
There is so much value and so much talent in H-FARM, it will be exciting to put our vision into effect in the coming years. We have sown a lot in these 12 years (over €26 million invested in 116 startups with a return of €16 million as of today, 5 exits last year, and a portfolio valuation of more than €50 million), in the next 3 years we will convert our investments.
In 2020 H-FARM will be 15 years old and it will be fun to reap what we saw."