Abitare In

Earnings Release • Dec 11, 2024

PRESS RELEASE

ABITAREIN: DRAFT FINANCIAL STATEMENTS AND CONSOLIDATED FINANCIAL STAMENTS AS AT 30/09/2024 APPROVED

CONSOLIDATED REVENUES OF €75 MILLION

CONSOLIDATED EBT OF €10 MILLION

BLOCK IN THE URBAN PLANNING SECTOR IN THE MUNICIPALITY OF MILAN PERSISTS, PENDING FINAL APPROVAL OF THE AUTHENTIC INTERPRETATION BILL KNOWN AS THE "SALVA MILANO" LAW

WORK IS PROGRESSING ON AUTHORIZED PROJECTS, WHICH ACCOUNT FOR SALES REVENUES OF €140 MILLION, TO BE DELIVERED BY AUTUMN 2025

SHAREHOLDERS' MEETING CONVENED FOR NEXT JANUARY 22

FINANCIAL HIGHLIGHTS

Consolidated figures as at 30 September 2024 - prepared in accordance with IFRS international accounting standards:

• CONSOLIDATED REVENUES AMOUNT TO €74.8 MILLION (€116.3 million as of 30.09.2023)
• CONSOLIDATED EBITDA AMOUNT TO €17.1 MILLION (€35.0 million as of 30.09.2023)
• CONSOLIDATED EBT (EARNINGS BEFORE TAXES) €10.1 MILLION (€25.1 million as of 30.09.2023)
• CONSOLIDATED NET PROFIT ATTRIBUTABLE TO THE GROUP AMOUNTS TO €5.8 MILLION (€24.3 million as of 30.09.2023)
• CONSOLIDATED NET FINANCIAL DEBT AMOUNTS TO €89.1 MILLION (€38.5 million as of 30.09.2023)
• CONSOLIDATED EQUITY ATTRIBUTABLE TO THE GROUP AMOUNTS TO €107.3 MILLION (€105.8 million as of 30.09.2023)

Key data of the parent company Abitare In S.p.A. as of September 30, 2024 – prepared in accordance with International Financial Reporting Standards (IFRS):

• REVENUES AMOUNT TO € 11.1 MILLION (€17.3 million as of 30.09.2023)
• EBT AMOUNT TO € 12.9 MILLION (€29.1 million as of 30.09.2023)

HIGHLIGHTS AT THE CURRENT DATE:

•PIPELINE, PROJECTS UNDER DEVELOPMENT (net of deeds performed): 225,0001-2 - COMMERCIAL SQUARE METERS FOR 2,490 UNITS3 •AVERAGE COST OF ACQUIRING COMMERCIAL AREA: € 610/SQM •ORDERBOOK: 489 UNITS FOR €221.4 MILLION •DEPOSITS/ADVANCES BASED ON PRELIMINARY CONTRACTS: €65 MILLION •UNITS DELIVERED4 : 839 FOR €313 MILLION •MORTGAGE LOANS APPROVED: €184 MILLION, OF WHICH €74 MILLION UTILIZED

Milan, December 11, 2024

The Board of Directors of AbitareIn S.p.A. (the "Company" or "AbitareIn"), a Milan-based company and leader in residential development, listed on the Euronext Milan market, Euronext STAR Milan segment (Ticker: ABT.MI), has today approved the draft financial statements and consolidated financial statements as of September 30, 2024.

Luigi Gozzini, Chairman, commented: "The results of this fiscal year, as is well known, are strongly impacted by the urban planning and construction block in the Municipality of Milan. We are awaiting confirmation of the approval of the authentic interpretation provision inappropriately referred to as the 'Save Milan' law, and to understand the effects and timing for the restart of an entire affected sector. We remain confident that trust can be restored, and our city will return to full operational capacity. Meanwhile, as evidenced by the year's results, we have continued to advance all activities for the implementation of authorized projects, which represent over €140 million in revenues and will see initial deliveries starting as early as the first months of 2025."

Marco Grillo, CEO, added: "Projections for the Milan residential market continue to confirm the housing emergency facing the city. Recent estimates highlight a growing gap between supply and demand, which, due to the current situation, is expected to worsen further. For this reason, we remain focused on our mission: creating homes for families by delivering sustainable and valuable housing solutions for people."

¹ Of which 16,800 square meters under development by Homizy for income generation in the co-living setup

² Of which 19,900 square meters to be developed under Affordable Housing and/or Agreed-upon Building Regulations

³ The number of apartments, assuming an average size of 92 square meters for marketable free housing and 82 square meters for ERS (Social Housing Rental), might vary based on the customization of the housing unit sizes, despite maintaining the overall square footage. The actual count of constructed apartments and signed contracts may differ due to this customization

⁴ Cumulative data of all apartments delivered by the Group

Summary of the main consolidated financial results as at 30 September 2024

The financial year ended 30 September 2024 saw CONSOLIDATED REVENUE equal to EURO 74.8 million, deriving from:

• I. Sales revenues amounted to €16.31 million (€235.8 million as of 30.09.2023) of which €13.3 million derive from the 14 deeds of sale for the remaining residential units of the Milano City Village, Palazzo Naviglio, and Trilogy Towers projects delivered to clients, and the remaining €3 million from the sale of the site located in the Corvetto area of Milan for a total amount of €3 million, attributed to the subsidiary Volaplana S.r.l.
• II. €45.7 million positive change in inventories due to progress in real estate development projects, net of inventory reductions resulting from the delivery of apartments to clients (€143.7 million negative change as of 30.09.2023). Production progress amounts to €60.6 million (€70.9 million as of 30.09.2023). Work continues on

Porta Naviglio Grande – scheduled for delivery in early 2025 – as well as on The Units, Lambrate Twin Palace, Palazzo Sintesy, and BalduccioDodici projects.

• III. Inventory variation of €2.7 million due to the acquisition of new real estate complexes(€7.5 million as of 30.09.2023).
• IV. Other operating revenues of €10.2 million primarily including increases in ongoing intangible assets related to investments in properties designated for co-living rental by the Homizy Group.

CONSOLIDATED EBITDA amount to € 17.1 million (€ 35.0 million as of 30.09.2023)

CONSOLIDATED EARNINGS BEFORE TAXES (EBT) amounted to €10.1 million (€25.1 million as of 30.09.2023). The figure reflects the impact of the urban planning and construction sectors block in the Municipality of Milan, which resulted in the failure to launch new projects during the period.

The EBT figure was negatively affected by €0.9 million due to the devaluation of the shareholding in Tecma Solutions S.p.A. resulting from fair value assessment as of the end of the reference quarter (it had a negative impact of €2.8 million as of 30.09.2023).

THE GROUP'S CONSOLIDATED NET PROFIT amounts to €5.8 million (€24.3 million as of 30.09.2023).

The GROUP'S NET FINANCIAL DEBT amounts to €89.1 million (€38.5 million as of September 30, 2023). This change is mainly attributable to the outflow related to the dividend payment made on October 4, 2023 (approved in the fiscal year ending September 30, 2023) amounting to €9.9 million, and the execution of the share buyback plan totaling €4 million. The indebtedness is also negatively affected by the payment of deposits for the future acquisition of new areas totaling €1.4 million, the purchase of new areas for €0.9 million (net of deposits paid in previous fiscal years), the payment of taxes amounting to €8.3 million, and total investments of €48.1 million related to construction progress.

Net financial indebtedness is positively influenced by proceeds from the sale of properties in Milano City Village, Trilogy Towers, and Palazzo Naviglio totaling €9.5 million, deposits and advances received from preliminary agreements for marketed projects amounting to €9.4 million, and proceeds from the sale of a site in the Corvetto district of Milan totaling €3 million.

Abitare In S.p.A.

	Financial Debt
	30.09.2024	30.09.2024	30.09.2023	Change
	amounts in Euro units
A.	Cash and cash equivalents	13.776.733	28.917.054	(15.140.321)
B.	Means equivalent to cash and cash equivalents	-	-	-
C.	Other current financial assets	9.317.621	17.420.554	(8.102.933)
D.	Liquidity (A) + (B) + (C)	23.094.354	46.337.608	(23.243.254)
E	Current financial payables		-	-
F.	Current portion of non-current debt	16.382.080	11.105.340	5.276.740
G.	Current financial debt (E) + (F)	16.382.080	11.105.340	5.276.740
H.	Net current financial debt (G) - (D)	(6.712.274)	(35.232.268)	28.519.994
I.	Non-current financial payables	95.827.647	73.751.305	22.076.342
J.	Debt instruments		-	-
K.	Trade payables and other non-current payables		-	-
L.	Non-current financial debt (I) + (J) + (K)	95.827.647	73.751.305	22.076.342
M.	Total financial debt (H) + (L)	89.115.373	38.519.037	50.596.336

Key economic and financial results of the Company as of September 30, 2024

As of September 30, 2024, the revenues of the parent company AbitareIn amount to €11.1 million, primarily driven by revenues from service contracts and intellectual property royalties entered into with operational vehicles.

The profit, amounting to €11.6 million, is mainly attributable to dividends distributed by the subsidiary companies.

Allocation of the profit for the fiscal year

The Board of Directors has decided today to propose to the Shareholders' Meeting, convened for the approval of the financial statements closed on September 30, 2024, to allocate profit to retained earnings.

Overview of the Development Pipeline

As of today, the development pipeline of the group headed by AbitareIn (the "Group") consists, net of completed and delivered projects, of 19 sites5 , covering approximately 225,000 sqm of commercial area6 ,

⁵ Including one developed in partnership with Techbau in Rome.

⁶ Of which 19,900 square meters to be developed under Affordable Housing and/or Agreed-upon Building Regulations and 16,800 square meters under development by Homizy for income generation in the co-living setup

corresponding to around 2,490 standard-sized apartments7 . These sites are located in various semi-central and semi-peripheral areas of the City of Milan (with the exception of one site in Rome), within high-growth potential contexts.

Of the apartments in the pipeline, 4897 apartments have been sold to date (on a preliminary basis), with a total value of approximately €221 million. Contractual advances (secured by insurance surety bonds) amount to €65 million, and 3987 apartments are currently under construction.

Units Delivered

To date, the Group has delivered 839 apartments⁷ across the Abitare In Poste, Abitare In Maggiolina, Olimpia Garden, Milano City Village, Palazzo Naviglio, and Trilogy Towers projects, with a total value exceeding €310 million.

Approval of the Corporate Governance and Ownership Structures Report as of September 30, 2024

In today's session, the Board of Directors also approved, for submission to the ordinary Shareholders' Meeting:

• The Corporate Governance and Ownership Structures Report for the fiscal year 2024, prepared in accordance with Article 123-bis of Legislative Decree No. 58 of February 24, 1998, and its subsequent amendments and integrations ("TUF").

The report will be made available to the public, as required by law, at the Company's registered office, Via degli Olivetani 10/12, Milan, and on the Company's website www.abitareinspa.com, under the Corporate Governance/Shareholders' Meetings section.

Verification of Independence Requirements of the Company's Directors and Auditors

The Board of Directors today verified, based on statements made by the Company's Directors and Auditors, and additional information available:

• The compliance of directors Mario Mazzoleni, Nicla Picchi, Giuseppe Vegas, Antonella Lillo e Stefano Massarotto with the independence requirements established by the current articles of association, Article 147-ter and Article 148, paragraph 3, of the Italian Consolidated Financial Act ('TUF'), as well as Article 2, recommendation 7, of the Corporate Governance Code, as supplemented by qualitative and quantitative criteria for assessing the significance of relationships according to letters 'c' and 'd' of the

⁷ The number of apartments, assuming an average size of 92 square meters for marketable free housing and 82 square meters for ERS (Social Housing Rental), might vary based on the customization of the housing unit sizes, despite maintaining the overall square footage. The actual count of constructed apartments and signed contracts may differ due to this customization.

same recommendation 7, as defined by the Company's Board of Directors in the meeting of November 14, 2023.

• The compliance of auditors Ivano Passoni, Elena Valenti and Matteo Ceravolo with the independence requirements established by the current articles of association, Article 147-ter and Article 148, paragraph 3, of the TUF, as well as Article 2, recommendation 7, of the Corporate Governance Code, as referred to in Article 2, recommendation 9, of the Corporate Governance Code and supplemented by qualitative and quantitative criteria for assessing the significance of relationships according to letters 'c' and 'd' of the same recommendation 7, as defined by the Company's Board of Directors in the meeting of November 14, 2023.

Appointment of the Supervisory Body

The Board of Directors, on today's date, also proceeded with the replacement of a member of the Supervisory Body pursuant to Legislative Decree 231/2001, following the resignation of Avv. Giuseppe Leporace for personal reasons.

As of today, the Company's Supervisory Body is composed of Avv. Angelo Marano (external member serving as Chairman), Dott. Federico Schneble (external member), and Avv. Emiliano Ventura (internal member). The Supervisory Body will remain in office until the approval of the financial statements for the fiscal year ending September 30, 2026.

Proposal for Authorization to Purchase and Dispose of Treasury Shares

The Board of Directors has resolved to submit to the approval of the shareholders' meeting a new proposal for the authorization to purchase and dispose of treasury shares, in light of the upcoming expiration of the authorization granted by the Shareholders' Meeting on July 14, 2023.

The request to authorize the Board of Directors to purchase and dispose of treasury shares aims to enable the Company to acquire and manage its own ordinary shares (including those already held in the portfolio) in compliance with applicable EU and national regulations and market practices recognized by Consob from time to time, for the following purposes:

• I. Allocate treasury shares to serve potential future stock incentive plans, structured in any form, to incentivize and retain employees, collaborators, and directors of the Company, its subsidiaries, and/or other categories of individuals at the discretion of the Board of Directors.
• II. Use treasury shares for transactions such as the sale and/or exchange of shares for the acquisition of equity stakes, whether direct or indirect, companies, business units, and/or real estate and/or the establishment of agreements with strategic partners and/or the execution of industrial projects or other extraordinary operations in line with the expansion goals of the Company and the group. Additionally, utilize treasury shares by pledging them as collateral to obtain financing necessary for the implementation of projects and/or continuation of corporate objectives, or in the context of share exchange or divestment transactions.
• III. Conduct subsequent purchase and sale transactions involving treasury shares within the limits permitted by accepted market practices.
• IV. Perform, directly or through intermediaries, any stabilization and/or liquidity support operations for the Company's stock, thereby promoting orderly trading in accordance with the provisions of Regulation (EU) No. 596/2014 on market abuse (MAR Regulation) and related EU and national

implementing regulations, as well as prevailing accepted market practices established by competent supervisory authorities under Article 13 of the MAR Regulation.

• V. Create a so-called "stock reserve" for potential future extraordinary financial transactions.
• VI. Undertake medium- and long-term investments or seize opportunities for favorable investments, considering the risk and expected return of alternative investments, including through the purchase and resale of shares whenever deemed appropriate.
• VII. Utilize excess cash resources

and, in any case, pursue the purposes permitted by the applicable regulations, including those set forth in Regulation (EU) No. 596/2014, as well as, where applicable, market practices accepted by CONSOB.

The authorization is requested for the purchase, in one or more tranches, also on a revolving basis, of the Company's ordinary shares without nominal value, up to a maximum number that, considering the ordinary shares held in the portfolio by the Company and its subsidiaries at any time, does not exceed 20% of the Company's share capital. This is in accordance with the provisions of Article 2357, paragraph 3, of the Italian Civil Code, and within the limits of distributable profits and available reserves as shown in the most recent approved financial statements at the time of each transaction, in accordance with Article 2357, paragraph 1, of the Italian Civil Code.

The Board of Directors proposes that the authorization to purchase treasury shares be granted for the maximum period allowed under Article 2357, paragraph 2, of the Italian Civil Code, namely for a period of 18 (eighteen) months from the date on which the Shareholders' Meeting adopts the corresponding resolution. In any case, purchases must be made:

• At a price per share that cannot deviate, either downward or upward, by more than 20% (twenty percent) from the reference price recorded by the stock in the trading session preceding each individual transaction; and, in any case,
• At a consideration that does not exceed the higher of the price of the last independent transaction and the highest current independent purchase offer available in the trading venue where the purchase is made.

With regard to the disposal of the Company's treasury shares, including those already held in the portfolio (understood, by way of example and not exhaustively, as disposal, exchange, contribution, use, transfer, and/or establishment of real and/or personal rights and/or securities lending), the Board of Directors proposes that the authorization allows the adoption of any method deemed appropriate to achieve the intended purposes. This includes, but is not limited to:

(i) Using treasury shares to serve stock incentive plans;

(ii) Selling such shares on the market, in blocks, or otherwise off-market, including through accelerated bookbuilding;

(iii) Using shares as consideration for the acquisition of equity stakes (so-called "share-for-share"), companies, or other assets, as well as for concluding agreements with strategic partners;

(iv) Assigning any related real and/or personal rights (including, by way of example, securities lending transactions) or pledging them as collateral to secure financing necessary for project implementation and the continuation of corporate objectives;

(v) Disposing of shares in any other form permitted by current regulations, always in the interest of the Company.

Abitare In S.p.A.

For further information on the proposal to authorize the purchase and disposal of treasury shares, please refer to the Explanatory Report by the Directors to the Ordinary Shareholders' Meeting, which will be published on the website www.abitareinspa.com in the "Investors/Corporate Governance/Meetings" section, within the legal timeframe.

As of today, AbitareIn holds 1,053,599 treasury shares in its portfolio.

Other Resolutions

The Board of Directors has resolved to submit to the approval of the Shareholders' Meeting, in an extraordinary session, the revocation of the resolution adopted on May 31, 2021, for the free increase of share capital under Article 2349, paragraph 1, of the Italian Civil Code, for the portion not yet executed, up to a nominal amount of €5,100.00 (five thousand one hundred euros), in connection with the allocation of profits to the Company's employees and the implementation of the 2021-2023 Stock Grant Plan.

Shareholders' Meeting

Following the approval of the above, the Board of Directors has also resolved to convene the Shareholders' Meeting, in an ordinary session, on January 22, 2025, in a single call, to discuss and resolve on the following agenda:

Ordinary Part

• 1. Approval of the fiscal year 2024 financial statements, accompanied by the Board of Directors' management report, the Board of Statutory Auditors' report, and the audit firm's report; presentation of the consolidated financial statements as of September 30, 2024; related resolutions;
• 2. Allocation of the fiscal year's profit; related resolutions;
• 3. Authorization for the purchase and disposal of treasury shares pursuant to Articles 2357 and 2357-ter of the Italian Civil Code, as well as Article 132 of Legislative Decree No. 58/1998, Article 144-bis of the Consob Regulation adopted by resolution No. 11971/1999, and related implementing provisions; related and consequent resolutions.

Extraordinary Part

1. Revocation, for the portion not yet executed, of the resolution dated May 31, 2021, regarding the free increase of share capital pursuant to Article 2349, paragraph 1, of the Italian Civil Code, up to a nominal amount of €5,100.00 (five thousand one hundred euros); related and consequent resolutions.

The announcement of the meeting accompanied by all the information required by Article 125-bis of the TUF, as well as all the documentation that will be submitted to the Shareholders' Meeting pursuant to Articles 125-ter and 125-quater of the TUF, will be made available to the public, as required by law, at the Company's registered office, Via degli Olivetani 10/12, Milan, and on the Company's website www.abitareinspa.com, under the Corporate Governance/Meetings section, as well as on the authorized dissemination and storage mechanism (accessible at ). The notice of the meeting will also be published in excerpt form in a newspaper within the legal deadlines.

The manager in charge of preparing the company's accounting documents, Mr. Cristiano Contini, declares, in accordance with Article 154-bis, paragraph 2 of the TUF, that the accounting information contained in this communication corresponds to the documentary evidence, books, and accounting records. It is also highlighted that in this communication, in addition to the conventional financial indicators required by IFRS, some alternative performance indicators are presented to allow for a better assessment of the economic and financial management trends. These indicators are calculated according to usual market practices.

AbitareIn S.p.A. represents innovation and a paradigm shift in the residential development sector, driven by its democratic vision of living that combines urban regeneration, affordability and the needs of today's families.

***

Efficiency, industrialisation and the creation of an identity brand are the foundations of a continuous and sustainable growth of the business model that focuses on the person and the home as an "aspirational" consumer product.

AbitareIn is thus committed to renovating the city's disused building stock and reviving its urban fabric, investing in projects of great aesthetic, environmental and social value and dedicating itself to responsible, far-sighted action; aware first and foremost of the essential nature of its new role as #stilistiurbani. The company has been listed on the Euronext Growth Milan of Borsa Italiana since April 2016. From 1 March 2021 it has been listed on the Euronext STAR Milan (ticker: ABT.MI). Alphanumeric code of the shares: ABT

ISIN: IT0005445280

Contacts:

Investor Relations Abitare In Eleonora Reni ereni@abitareinspa.com Press Office Barabino&Partners Federico Vercellino – 331.57.45.171 f.vercellino@barabino.it Alice Corbetta – 340.45.57.565 a.corbetta@barabino.it

Abitare In S.p.A.

Consolidated Statement of Financial Position

	Note	30.09.2024	Related parties	30.09.2023	Related parties
Property, plant and equipment	1	34.839.678		27.525.067
Intangible assets	2	2.044.663		2.315.962
Financial activities	3	25.541		184.544
Equity investments in other companies	4	1.167.212	21.537	2.022.472
Non-current financial receivables		3.473.867	3.473.867	-
Deferred tax assets	5	2.688.291		2.080.880
TOTAL NON-CURRENT ASSETS		44.239.252		34.128.925
Inventory	6	219.495.910		169.786.314
Current financial receivables	7;26	-		2.200.000	2.200.000
Financial assets carried at fair value	8	9.317.621		15.220.554
Trade receivables	9;26	2.256.864	953.572	808.301	43.879
Other current assets	10	12.439.109		23.933.618
Current tax assets	11	6.390.027		4.126.630
Cash and cash equivalents	12	13.776.733		28.917.054
TOTAL CURRENT ASSETS		263.676.264		244.992.471
TOTAL ASSETS		307.915.516		279.121.396
Share capital		133.075		133.004
Reserves		46.482.693		50.713.330
Profit (loss) carried forward		54.939.996		30.710.405
Profit (loss) for the year		5.781.382		24.289.540
EQUITY ATTRIBUTABLE TO THE OWNERS OF THE PARENT		107.337.146		105.846.279
Profit and reserves attributable to non-controlling interests		3.627.911		3.808.130
EQUITY	13	110.965.057		109.654.409
Non-current financial liabilities	14	95.827.647		73.751.305
Employee benefits	15	324.858		389.915
Other non-current liabilities	16;26	563.609	428.731	335.184	335.184
Customer down payments and deposits	17	53.609.002		44.181.101
Deferred tax liabilities	5	6.166.206		3.316.613
TOTAL NON-CURRENT LIABILITIES		156.491.322		121.974.118
Current financial liabilities	14	16.382.080		11.105.340
Trade payables	18;26	13.130.472	65.545	7.161.139	38.512
Other current liabilities	19;26	10.241.339	1.333.110	19.188.275	412.250
Customer down payments and deposits	17	154.000		3.029.646
Current tax liabilities	20	551.246		7.008.469
TOTAL CURRENT LIABILITIES		40.459.137		47.492.869
TOTAL LIABILITIES		196.950.459		169.466.987
TOTAL LIABILITIES AND EQUITY		307.915.516		279.121.396

Abitare In S.p.A.

Consolidated Income Statement

			Related		Related
	Note	30.09.2024	parties	30.09.2023	parties
Revenue from sales	21.1	16.310.677		235.782.923
Change in inventory for progress of works	21.2	45.656.180		(143.660.275)
Change in inventory for new sites purchased	21.3	2.690.254		7.550.000
Other revenue	21.4	10.116.500	671.333	16.630.925
TOTAL REVENUE	21	74.773.611		116.303.573
Property purchased for redevelopment for sale	22.1	2.690.254		7.550.000
Property purchased for redevelopment for rental	22.1	-		12.500.000
Raw materials, consumables, supplies and goods		101.792		236.070
Services	22.2;26	47.960.697	1.744.518	54.422.105	1.741.989
Rentals and similar		182.180		88.483
Personnel expenses	22.3;26	3.965.186	170.000	3.558.039	200.000
Depreciation/Amortisation	22.4	1.270.301		1.298.514
Impairment losses and provisions	22.5;26	363.265	83.265	1.036.957	43.341
Other operating expenses	22.6	2.804.740		2.967.558
TOTAL OPERATING EXPENSES	22	59.338.415		83.657.726
EBIT		15.435.196		32.645.847
Financial income	23	3.022.272	261.139	3.125.320	78.597
Financial expenses	23	(8.317.002)		(10.639.789)
EBT		10.140.466		25.131.378
Income taxes	24	(4.516.754)		(969.879)
PROFIT (LOSS) FOR THE YEAR		5.623.712		24.161.499
Of which:
Net profit (loss) attributable to non-controlling interests		(157.670)		(128.041)
Net profit (loss) attributable to the owners of the Parent		5.781.382		24.289.540

Consolidated Comprehensive Income Statement

	Note	30.09.2024	30.09.2023
Profit (loss) for the year		5.623.712	24.161.499
Other comprehensive income
That will not be subsequently reclassified in profit or loss
for the year
Employee benefits		(12.325)	(3.535)
Tax effect		2.958	849
Total		(9.367)	(2.686)
That will be subsequently reclassified in profit or loss for
the year
Hedging instruments		(293.881)	(126.425)
Tax effect		70.532	30.341
Total		(223.349)	(96.084)
Total change in OCI reserve		(232.716)	(98.770)
Comprehensive income for the period		5.390.996	24.062.729
Of which:
Net profit (loss) attributable to non-controlling interests		(157.670)	(128.041)
Net profit (loss) attributable to the owners of the Parent		5.548.666	24.190.770
Earnings per share	25	0,21	0,91
Diluted earnings per share	25	0,20	0,87

Consolidated Statement of Cash Flows (indirect method)

	30.09.2024	30.09.2023
Operating activities
Profit (loss) for the year	5.623.712	24.161.499
Income taxes	4.516.754	969.879
Financial income	(3.022.272)	(2.946.475)
Financial expenses	8.317.002	10.460.944
(Capital gains)/losses from asset disposals	-	-
Net accruals to provisions	515.723	1.174.669
Accrual to stock grant reserve	-	625.639
Impairment and depreciation/amortisation of property, plant and equipment and
intangible assets	1.270.301	1.298.514
Cash flows before changes in net working capital	17.221.220	35.744.669
Decrease/(increase) in inventory	(49.709.596)	135.593.558
Increase/(decrease) in trade payables	5.969.333	(16.986.314)
Decrease/(increase) in trade receivables	(1.448.563)	(524.351)
Change in other current/non-current assets and liabilities	17.982.057	(52.750.732)
Net financial income/expenses collected/paid	(5.768.047)	(5.845.075)
Taxes paid	(8.333.712)	(282.917)
Use of provisions	(248.282)	(88.128)
Cash flows from (used in) operating activities (A)	(24.335.590)	94.860.710
Investing activities
Investments in property, plant and equipment	(746.785)	(750.203)
Disposal of property, plant and equipment	29.191	-
Real estate investments	(6.988.734)	(13.901.522)
Investments in intangible assets	(607.284)	(362.367)
Disposal of intangible assets	-	-
Other equity investments	-	(100.000)
Sale of company, net of cash and cash equivalents	-	-
Cash flows from (used in) investing activities (B)	(8.313.612)	(15.114.092)
Financing activities
Bank loans raised	38.942.542	37.133.034
Bank loan repayments	(11.782.862)	(101.406.657)
Change in current/non-current financial liabilities	(273.692)	(385.359)
Net change in current financial assets	4.629.066	(17.420.554)
Change in consolidation scope	(82.498)	-
Investment in own shares	(3.997.850)	(1.115.515)
Dividends paid	(9.925.824)	-
Share capital increase against consideration	-	-
Cash flows from (used in) financing activities (C)	17.508.882	(83.195.051)
Net cash flows in the period (A)+(B)+(C)	(15.140.320)	(3.448.433)
Cash and cash equivalents at the beginning of the year	28.917.053	32.365.487
Increase/(decrease) in cash and cash equivalents from 1 October to 30
Septermber	(15.140.320)	(3.448.433)
Cash and cash equivalents at the end of the year	13.776.733	28.917.054

Abitare In S.p.A.

Abitare In S.p.A - Statement of Financial Position

	30.09.2024	Related parties	30.09.2023	Related parties
Intangible assets	1.918.967		2.696.514
Property, plant and equipment	1.839.241		1.931.644
Equity investments in subsidiaries	9.275.818	9.275.818	7.455.952	7.455.952
Equity investments in other companies	1.167.212	21.537	2.022.472
Non-current financial assets	51.582.697	51.557.156	46.705.640	46.589.528
Prepaid taxes	258.689		116.172
TOTAL NON-CURRENT ASSETS	66.042.624		60.928.394
Trade receivables	1.987.169	953.572	632.805	43.879
Receivables from subsidiaries	31.319.290	31.319.290	34.312.596	34.312.596
Current financial assets	16.072.874	16.072.874	1.250.000	1.250.000
Financial receivables	9.317.621		2.200.000	2.200.000
Financial assets carried at fair value	0		15.220.554
Othrer current assets	1.029.865		2.089.014
Current tax assets	3.061.726		92.060
Cash and cash equivalents	1.848.858		15.044.042
TOTAL CURRENT ASSETS	64.637.403		70.841.071
TOTAL ASSETS	130.680.027		131.769.465
Share capital	133.075		133.004
Reserves	40.317.570		44.497.159
Previous years' profit (loss)	32.651.286		6.682.923
Operating profit	11.603.159		25.968.357
EQUITY	84.705.090		77.281.443
Non-current financial liabilities	14.232.376		15.269.844	34.397
Employee benefits	274.577		362.108
Other non-current liabilities	1.220.593	1.085.715	335.184	335.184
Payables for deferred tax liabilities	124.186		174.385
TOTAL NON-CURRENT LIABILITIES	15.851.732		16.141.521
Current financial liabilities	10.540.510	599.599	8.721.432	1.412.124
Trade payables	700.060	33.825	934.317	6.760
Payables to subsidiaries	17.539.323	17.539.323	12.207.509	12.207.509
Other current payables and liabilities	1.219.159	698.860	10.587.787	30.000
Current tax liabilities	124.153		5.895.456
TOTAL CURRENT LIABILITIES	30.123.205		38.346.501
TOTAL LIABILITIES	45.974.937		54.488.022
TOTAL LIABILITIES AND EQUITY	130.680.027		131.769.465

Abitare In S.p.A.

Abitare In S.p.A – Income Statement

	30.09.2024	Related parties	30.09.2023	Related parties
Revenue for services	9.322.829	9.322.829	16.245.657	16.245.657
Other revenue	1.740.290	729.257	1.021.710	166.188
TOTAL REVENUE	11.063.119		17.267.367
Raw materials, semi-finished products and other materials
purchased	69.001		54.862
Services	6.541.978	1.386.810	7.162.545	1.446.580
Rental and similar	182.080		80.737
Personnel expenses	3.100.380	170.000	3.150.671	200.000
Deprecation/Amortisation	1.498.764		1.472.303
Impairment losses and provisions	83.265	83.265	43.341	43.341
Other operating expanses	545.297		391.851
TOTAL OPERATING EXPENSES	12.020.765		12.356.310
EBIT	(957.646)		4.911.057
Reinstatement/(write-down) subsidiary investments	(656.984)	(656.984)	(186.587)	(186.587)
Financial income	17.103.435	14.612.799	28.176.185	3.902.482
Financial expenses	(2.619.880)		(3.809.332)
EBT	12.868.925		29.091.323
Income taxes	(1.265.766)		(3.122.966)
Profit (loss) for the year from operating activities	11.603.159		25.968.357
Profit (loss) for the year	11.603.159		25.968.357

Abitare In S.p.A – Comprehensive Income Statement

	30.09.2024	30.09.2023
Profit (loss) for the year	11.603.159	25.968.357
Other comprehensive income
That will not be subsequently reclassified in profit or loss
for the year
Employee benefits	(13.588)	(3.223)
Tax effect	3.261	774
Total	(10.327)	(2.449)
That will be subsequently reclassified in profit or loss for
the year
Hedging instruments	(293.881)	(57.902)
Tax effect	70.532	13.896
Total	(223.349)	(44.006)
Total change in OCI reserve	(233.676)	(46.455)
Comprehensive income for the period	11.369.483	25.921.902

Abitare In S.p.A. – Cash Flow Statement

	30.09.2024	30.09.2023
Operating activities
Proft (loss) for the year	11.603.159	25.968.357
Income taxes	1.265.766	3.122.966
Financial income	(17.103.435)	(28.176.185)
Financial expenses	3.276.864	3.995.919
(Gains)/losses on the sale of companies	-	-
Net accruals to provision	200.228	347.793
Accrual to stock grant reserve	-	625.639
Impairment and deprecation/amortisation of property, plant and equipment and
intangible assets	1.498.764	1.472.303
Cash flows before changes in net working capital	741.346	7.356.792
Increase/(decrease) in trade payables	5.097.557	930.253
Decrease/(increase) in trade receivables	1.638.942	(15.078.472)
Change in other current/non-current assets and liabilities	(2.630.867)	7.155.948
Net financial income/expenses collected/paid	17.233.493	27.573.432
Taxes paid	(7.888.452)	(78.998)
Use of provisions	(235.571)	(84.518)
Cash flows from (used in) operating activivties (A)	13.956.448	27.774.437
Investing activities
Investments in property, plant and equipment	(167.509)	(194.303)
Disposal of property, plant and equipment	29.191	-
Investiments in Equity investments	(141.513)	736.490
Disposal in Equity investments	228.686	-
Real estate investments	-	-
Investiments in intangible assets	(490.494)	(441.531)
Disposal of intangible assets	-	-
Changes in non-current financial assets	(6.874.667)	(5.505.978)
Cash flows from (used in) investing activities (B)	(7.416.306)	(5.405.322)
Financing activities
Bank loans raised	10.000.000	5.000.000
Bank loans repayments	(7.562.734)	(8.393.222)
Change in current/non-current financial liabilities	(1.528.978)	(990.131)
Net change in current financial assets	(6.719.941)	(6.752.396)
Investment in own shares	(3.997.850)	(1.115.515)
Dividends paid	(9.925.824)	-
Share capital increase against consideration	-	-
Cash flows from (used in) financing activities (C)	(19.735.327)	(12.251.264)
Net cash flows in the period (A)+(B)+(C)	(13.195.185)	10.117.851
Cash and cash equivalents at the beginning of the year	15.044.043	4.926.191
Increase/(decrease) in cash and cash equivalents from 1 October to 30 September	(13.195.185)	10.117.851
Cash and cash equivalents at the end of the period	1.848.858	15.044.042

Abitare In S.p.A.