Revenues have grown by over 33%.
Our Board of Directors approved yesterday our 2018 half-year financial report. Data confirm a constant growth: revenues reached €29.5 million, with a 33% increase compared to 2017.
We have started an internal rationalization process focused on two areas: Innovation and Education. Both are growing a lot: Innovation has recorded its fifth straight semester of growth, driven also by robust partnerships with important brands. Also Education continues to grow: for the new school year, the number of enrollments increased by 22%, reaching almost 1,200 students. These two areas are supported by investments in innovative ideas: from our establishment, we have invested over €27 million in over 120 startups, such as Depop and Travel Appeal, that are raising a significant international interest.
Since the beginning of 2018, we have welcomed 109 new farmers, for a total of 630.
Our founder Riccardo Donadon declared:
"The first half of 2018 truly shows our acceleration and our commitment to consolidating our offer, which is unique in the European innovation scenario, and provides an accurate portrait of the ability that H-FARM has to grow and to make its initiatives grow. All the economic indicators demonstrate a significant growth, especially the value of production, EBITDA, which recorded an important improvement, benefitting also from the two international secondary operations that confirmed the validity of our startups portfolio.
In the first half of the year we have also started an internal rationalization process based on a new partnership-organization that identifies Innovation and Education as the two driving areas of our growth: the Innovation division, which is having great success abroad with large international groups, capable of anticipating and satisfying the needs of companies, has embarked on a path to make its offer even more defined and to take advantage of the synergies between the world of startups and businesses in a more effective way; while the Education division, which now has 4 schools, a B.A. program and a vocational school, has consolidated its offer and become an attractive center for an increasing number of families and students. The startups in our portfolio continue to increase their value, and their international growth is really starting to pick up.
On behalf of the Board of Directors, I welcome Massimiliano Benedetti. Thanks to his great digital experience, he will be able to help H-FARM create even greater value in the area of innovative digital transformation services."