2018 annual report: production value exceeds €60M

2018 annual report: production value exceeds €60M

27 March 2019
Production value increased of +37.9% and the EBITDA is positive for the first time in our history. We are going full-steam ahed, earlier than expected in our listing phase.

2018 was the turning point for us and the most significant year of the post-IPO phase. We have achieved important economic results and earlier than expected in the listing phase: we have exceeded €61 million in production value, with growth of 38% and a positive EBITDA for the first time in our history.

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Our three divisions – Education, Innovation and the Portfolio – have each recorded significant growth in their reference markets and highlight further development prospects.
Our international growth is confirmed by the over 300 brands that rely on our Innovation division and by the opening of our first European hub in Barcelona.
Three years after the start of Education, students are also growing: they are 1254, compared to 1087 last year.
Even our Portfolio is particularly dynamic: in these years we have invested over €28.7 million in innovative companies and concluded 11 exits, with a total return of over €16 million. The Portfolio is mature and within the next three years we will cover the investments we made.
 

Our CEO Riccardo Donadon declared:

"2018 was the turning point for us and the most significant year of the post-IPO phase. We have achieved important economic results and earlier than expected in the listing phase: we have exceeded €61 million in production value, with growth of 38% and a positive EBITDA for the first time in our history.

Our business model, composed of three highly synergetic units, is by now time-tested and has entered a phase of growth and scalability in every respect: Education and Innovation have seen significant growth in fast-moving markets, something that attests to further possibilities for development. [...]

Even our Portfolio is going through a particularly dynamic phase: in these last few years we have invested over €28,7 million in innovative companies and concluded 11 exits, with a total return of over €16 million. Two of these exists were very important and were both closed in the last year: our Portfolio is by now mature and within the next three years we will cover the investments made. Many players are looking at our startups with interest and we are confident of being able to enhance them over a short-term time horizon.

It was a dynamic year, lively and eventful: we never lost sight of our goals, we accepted new challenges with enthusiasm and determination because it is in our DNA to do so. The dramatic growth in the number of students, totaling over 1,200, confirms once again the efficiency of our choices and integrity of our vision. We also focused on grounding the internationalization strategy that sees our Innovation division as the main player, already a benchmark reality for customers like Adidas, Henkel, Audi and major groups in the fashion world such as LVMH and Kering. And we have gone full steam ahead: the first months of 2019 saw the inauguration of our new headquarters in Barcelona, an important decision which has given us a lot of work these last few months in terms of energy and time spent, but from which we expect a significant contribution in turnover.

We have definitively entered the scale-up phase of the project and 2019 marks another important step in our performance. We look to the future as being not just an accelerator, but also an aggregator of experience and talent, supporting companies and young minds in the training process. Over the next two years we are determined to grow and make our value recognized at an international level, reaping the benefits of the great work achieved in these first 14 years”.

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