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Unidata — Earnings Release 2025
Mar 31, 2026
4418_10-k_2026-03-31_5f5b2f5a-2c4c-408f-a626-0ad3cb655a62.pdf
Earnings Release
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UNiDATA
INFO DIGITAL 2026
PRESS RELEASE
UNIDATA'S BOARD OF DIRECTORS APPROVED THE DRAFT FINANCIAL STATEMENTS, THE CONSOLIDATED FINANCIAL STATEMENTS AND THE SUSTAINABILITY REPORT AS OF 31 DECEMBER 2025
2025 ECONOMIC AND FINANCIAL GUIDANCE SUCCESSFULLY ACHIEVED
STRONG YOY REVENUE GROWTH THANKS TO THE FOCUS ON HIGH-VALUE-ADDED SERVICES
NET FINANCIAL DEBT IMPROVED THANKS TO GOOD OPERATING CASH GENERATION
PROPOSED DIVIDEND OF € 0.01 PER SHARE
ORDINARY SHAREHOLDERS' MEETING CALLED FOR 11 MAY 2026
Unidata Group's main consolidated figures
- Total Revenues: € 109.5 million (€ 101.3 million in 2024), +8% YoY
- Adjusted EBITDA: € 29.4 million (€ 28.5 million in 2024)¹ +3% YoY
- Adjusted EBITDA Margin: ~27% (28% in 2024)¹
- Investments: € 14.2 million
- Net Financial Debt: € 37.7 million (€ 43.8 million as of 31 December 2024)
- Number of customers: +13% compared to 31 December 2024
- Km of optical fiber: +900 km compared to 31 December 2024, reaching about 8,500 km in total
Roma, 31 March 2026 – Unidata S.p.A. (UD.MI) (the “Company”), a telecommunications, cloud and IoT services operator, listed on the Euronext Milan market – STAR Segment, organised and managed by Borsa Italiana S.p.A., announces that the Board of Directors, which met on today’s date under the chairmanship of Renato Brunetti, examined and approved the Draft Financial Statements and the Consolidated Financial
¹ Please note that the comparative figure for Adjusted EBITDA and Adjusted EBITDA Margin as of 31 December 2024 has been appropriately restated to take into account the elimination of intercompany profit accrued with respect to associated companies.
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
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Statements, drawn up in accordance with the IAS/IFRS International Accounting Principles, and the Sustainability Report as of 31 December 2025.
Renato Brunetti, Chairman and CEO of Unidata, stated: "The 2025 financial year showed good growth, with service revenues increasing significantly, confirming the solidity of our positioning and our growing ability to generate value through an increasingly advanced and customer-focused offering. At the same time, we achieved a significant improvement in net financial debt, thanks to positive operating cash generation, which, among other things, allowed us to support a significant investment plan of approximately € 14 million while maintaining financial balance and discipline. The transformation from a telco operator to a tech company continues with determination, supported by the development of strategic industrial projects and relevant partnerships. This includes, among others, the reorganization of Unifiber Italy, aimed at further strengthening the collaboration with the CEBF fund, and the completion of the laying of Unitirreno submarine cable, a key infrastructure for the Group's development in the coming years. Looking to the future, 2026 began with continuity and a long-term strategic vision: among the most recent transactions are the establishment of Unicenter and the agreement with Serdal Holding, initiatives that, despite a complex geopolitical context, demonstrate our determination to continue along a path of sustainable growth, making innovation a concrete and distinctive element in the creation of value".
MAIN CONSOLIDATED ECONOMIC AND FINANCIAL DATA AS OF 31 DECEMBER 2025
Total consolidated revenues, equal to € 109.5 million, showed a sharp increase (+8%) compared to 2024 (€ 101.3 million), confirming the breakdown of revenues by business area which saw double-digit growth in revenues from Services (+12%) and a slight decline in revenues from Infrastructure (-4%).
Adjusted EBITDA amounted to approximately € 29.4 million, +3% compared to € 28.5 million in 2024². The figure is calculated net of extraordinary costs of approximately € 0.7 million and the elimination of intercompany profit accrued with respect to associated companies, accounted for using the equity method, equal to approximately € 1.9 million, as required by the international accounting standard IAS 28. The Adjusted EBITDA Margin was equal to 26.9% compared to 28.1% in 2024².
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
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Operating Profit (EBIT), equal to € 14.7 million, recorded a slight decrease compared to 2024 (€ 15.9 million) due to an increase in depreciation related to the higher investments made. EBIT Margin is equal to 13.4% compared to 15.7% in 2024.
Total financial income and expenses recorded in 2024 is at € 3.3 million, a 7% improvement compared to 2024 (expenses of € 3.6 million). The total is composed as follows:
- Financial income of € 2.2 million, of which € 1.9 million related to non-cash financial income, in accordance with the requirements of IFRS 9, as part of the renegotiation of the € 50 million loan, which took place on 19 June 2025;
- Financial expenses of € 4.0 million, of which € 1.0 million related to the effect of amortized cost on financial receivables from subsidiaries and loans, in accordance with the requirements of IFRS 9. Interest expense related to loans decreased by approximately € 0.2 million YoY thanks to the renegotiation of the loan;
- Expenses from shareholdings valued at equity of € 1.5 million.
The Net Result is equal to € 7.0 million compared to the result recorded in 2024 (€ 8.6 million).
During 2025, Total investments of approximately € 14.2 million were made, largely financed by working capital and divided into approximately € 6.0 million in intangible assets, approximately € 7.6 million in tangible assets, mainly related to the infrastructure area, and approximately € 0.5 million in financial assets.
Net Financial Debt amounted to € 37.7 million, a significant improvement compared to € 43.8 million as of 31 December 2024, thanks to the good operating cash generation, the release of the € 2.4 million deposit in January, and the recognition of non-cash financial income of € 1.9 million, in line with the requirements of IFRS 9 as part of the renegotiation of the € 50 million loan payable which took place on 19 June 2025.
Net equity as of 31 December 2025 is € 86.7 million compared to € 73.0 million as of 31 December 2024.
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
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REVENUES BY BUSINESS AREAS
| Thousands of € | FY 2025 | FY 2024 | Change | % |
|---|---|---|---|---|
| Consumer | 6,210 | 5,367 | 842 | 16% |
| Business | 24,380 | 21,989 | 2,391 | 11% |
| of which recurring | 22,854 | 21,792 | 1,062 | 5% |
| of which project | 1,526 | 197 | 1,329 | - |
| Wholesale | 9,401 | 3,938 | 5,463 | 139% |
| of which recurring | 837 | 1,828 | -991 | -54% |
| of which project | 8,564 | 2,110 | 6,454 | 306% |
| Public Administration | 7,122 | 7,430 | -307 | -4% |
| of which recurring | 781 | 703 | 78 | 11% |
| of which project | 6,340 | 6,726 | -386 | -6% |
| Reseller | 30,086 | 30,416 | -330 | -1% |
| Voice Trading and voice network | 5,120 | 4,379 | 741 | 17% |
| Service Revenues | 82,320 | 73,520 | 8,800 | 12% |
| Creation & Delivery | 23,391 | 25,330 | -1,939 | -8% |
| Materials trading | 1,297 | 420 | 877 | - |
| Infrastructure Revenues | 24,688 | 25,749 | -1,061 | -4% |
| Deferred income | 1,249 | 1,192 | 57 | 5% |
| Other income | 1,246 | 844 | 402 | 48% |
| Total | 109,503 | 101,304 | 8,198 | 8% |
Service
The Service revenues line, which recorded a growth of 12%, includes:
- revenues relating to the main business lines (Fiber & Networking, Datacenter & Cloud and IoT & Smart Solutions) divided by type of customer (Consumer, Business, Wholesale and PA);
- revenues relating to direct and indirect sales through resellers of the Group's services and to network and voice trading services.
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
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Infrastructure
The Infrastructure revenues line, which recorded an decrease of 4%, includes mainly revenues for the construction of telecommunications infrastructure attributable to the works connected to the Unifiber project.
CUSTOMERS
2025 confirms growth in direct customers (+13%) compared to the previous year. Total direct customers as of 31 December 2025, amounted to no. 31,095³, compared to 27,593 as of 31 December 2024. The increase affects all major customer categories; in particular, the Business customer sector recorded a 1% increase, while the Consumer customer segment recorded a 15% increase. The number of white-label lines activated through the partner network increased compared to 31 December 2024, reaching 34,314 active lines as of 31 December 2025 (of which 351 are international).
The following table illustrates the calculation of Average Revenue Per User (ARPU) broken down by major customer categories and compared to the previous year's figure.
| FY 2025 | FY 2024 | % Change | ||||
|---|---|---|---|---|---|---|
| Type of customers | Number of Customers | ARPU | Number of Customers | ARPU | Number of Customers | ARPU |
| Consumer | 25,956 | 21 | 22,529 | 21 | 15% | 0% |
| Business | 5,139 | 379 | 5,064 | 396 | 1% | -4% |
| Total | 31,095 | 27,593 | 13% |
FIBER OPTIC INFRASTRUCTURE EXTENSION
During 2025, the fiber optic network was extended by approximately 900 km, reaching a total extension of approximately 8,500 km between Unidata and Unifiber as of 31 December 2025.
Unidata's fiber optics in buildings provide coverage for about 530,000 residential and business properties, including several industrial and office districts.
³ Please note that customer data has been reclassified in the financial statements and, for this reason, the number of customers as of September 30, 2025 is equal to no. 30,009, of which no. 24,894 are consumer customers and no. 5,115 are business customers.
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
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SIGNIFICANT EVENTS OCCURRED DURING 2025
On 3 February 2025, Unidata announces that the laying of the cable of Unitirreno strategic submarine infrastructure took place in Fiumicino. The digital infrastructure will connect Sicily (Mazara del Vallo) to Liguria (Genoa), passing through Roma–Fiumicino and Olbia, making these locations true strategic hubs in the heart of the Mediterranean.
On 19 February 2025, Unidata announced that Unitirreno has signed a financing agreement with Intesa Sanpaolo, also as Agent Bank, and Banco BPM for an amount of € 57 million and a duration of 4 years. The investment is intended for the construction of a submarine fiber optic infrastructure, which will connect Mazara del Vallo to Genoa, with a hub near Roma–Fiumicino and one in Olbia.
On 10 March 2025, Unidata announces that it has been awarded three contracts by SorgeAqua S.r.l, ASA S.p.A. and the Municipality of Zeri for the assignment of the design, construction and management of remote reading networks based on LoRaWan® technology. These projects respond to the need to reduce losses in water distribution networks, digitize and monitor the networks themselves.
On 10 April 2025, Unidata announced the completion of the strategic reorganization transaction through the transfer of the shareholdings held by Unidata and Connecting Europe Broadband Fund (CEBF) in ClioFiber S.r.l. and in Unifiber S.p.A. to the company Unifiber Italy S.p.A.. The underlying rationale lies in the implementation of a new project aimed at expanding and strengthening the strategic partnership between Unidata and the CEBF fund.
On 29 April 2025, Unidata announces that the cable laying of the Unitirreno strategic submarine infrastructure, a digital infrastructure of strategic importance that will connect Sicily to Liguria, took place in Mazara del Vallo. The section of cable laid in Mazara del Vallo represents a crucial piece of a broad process of digital transformation and evolution.
On 19 June 2025, Unidata announced the signing of a medium-long term financing agreement for a total of € 50 million with a pool of leading banks and financial institutions, including UniCredit as Global Coordinator and Agent Bank, Banca Intesa Sanpaolo, Cassa Depositi e Prestiti, and BNL BNP Paribas, maturing in 2033. The financing is secured by the SACE GROWTH Guarantee, and UniCredit acted as SACE agent in managing the relationship with SACE. Subsequently, on 26 June 2025, Unidata announced the disbursement of the financing to support the Group's growth plan.
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
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SIGNIFICANT EVENTS OCCURRED AFTER THE END OF THE FINANCIAL YEAR
On 27 January 2026, Unidata announced the signing of a three-year commercial and strategic partnership agreement with Serdal Holding LLC, a company headquartered in Abu Dhabi, United Arab Emirates (UAE). The agreement represents a strategic step in Unidata's internationalization journey and allows the Group to enter the UAE market, one of the most dynamic economic environments globally, characterized by a strong commitment to the development of advanced digital infrastructure, smart services, cloud, the Internet of Things, and Artificial Intelligence.
On 23 March 2026, Unidata announced that it had established UniCenter S.p.A. jointly with Azimut Libera Impresa SGR S.p.A., as the management company of the "Fondo Infrastrutture per la Crescita – ESG", for the creation of a green and neutral TIER IV data center in Rome, with a capacity of approximately 20 MW and over 2,000 racks of capacity, for a total surface area of 13,000 sqm, with national and international customers and which will use energy from renewable sources.
BUSINESS OUTLOOK
The financial year ended 31 December 2025, was characterized by the continuation of the economic performance already seen during the previous financial year, and in particular:
- an increase in customer base in the Retail segment;
- continued investment in Unifiber S.p.A. and Unifiber Puglia S.r.l., companies held through Unifiber Italy S.p.A., through the construction of a fiber optic network in the gray areas of Lazio and Puglia;
- continued investment in Unitirreno Holding S.p.A. and Unitirreno Submarine Network S.p.A. for the construction of a submarine fiber system in the Tyrrhenian Sea;
- continuation of work on several projects related to public tenders won in previous financial years, with reference to the Public Administration and the IoT (Internet of Things) area, as well as the possibility of winning new tenders;
- the continuation of the Rome 5G project.
The outlook for 2026 financial year is undoubtedly the consolidation of the 2025 results, with an upward trend throughout the year. This aims to achieve the targets outlined in the 2026-2028 Business Plan, approved by the Board of Directors on December 1, 2025, which presents the following for 2026:
- Total revenues: between € 114 and € 116 million;
- Adjusted EBITDA: between € 28 and € 29 million;
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
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- Adjusted EBITDA Margin: approximately 25%;
- Net Financial Debt: between € 37 million and € 39 million.
This plan defined the strategic guidelines for strengthening competitive positioning and creating sustainable value in the medium to long term. In particular, the Plan envisages sustainable growth with the transformation of the group into a tech company, leveraging the highest value-added activities: Cloud, Smart IoT, Datacenter and Cybersecurity.
MAIN ECONOMIC RESULTS OF THE PARENT COMPANY
The Separate Financial Statements of Unidata S.p.A. show total revenues of € 109.3 million (+5% compared to € 104.3 million in 2024), an Adjusted EBITDA of € 28.7 million compared to € 30.6 million in 2024, and a net profit of € 6.8 million compared to € 10.5 million in the previous year. It should be noted that the results of the 2024 Separate Financial Statements are higher than those of the 2024 Consolidated Financial Statements due to the consolidation of Unisabina.
MEETING WITH THE FINANCIAL COMMUNITY
The results as of 31 December 2025 will be presented to the financial community today, Tuesday 31 March 2026, during a video conference at 4:00 pm (3:00 pm UK).
The video conference will be attended by the Chairman and CEO, Renato Brunetti, and the CFO and Investor Relations Officer, Roberto Giacometti.
For information about participating in the video conference, please contact [email protected].
The presentation can also be downloaded from the website investors.unidata.it.
ALLOCATION OF THE 2025 FINANCIAL YEAR RESULT
In light of the above, the Board of Directors proposes to allocate the net profit of € 6,811,977 as follows:
- € 340,599 to increase the legal reserve;
- € 301,207 to be allocated as a dividend (€ 0.01 per share, excluding treasury shares);
- € 6,170,171 to be carried forward to the next financial year.
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
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The Company announces that the dividend will be paid, if the next Shareholders' Meeting approves its distribution, starting from 20 May 2026, with the coupon detachment on 18 May 2026. The payment entitlement date (record date) is set for 19 May 2026.
Transactions may be carried out through authorized intermediaries.
SUSTAINABILITY REPORT AND IMPACT REPORT
In 2025, Unidata voluntarily prepared its Sustainability Report, adopting the methodological and information framework of the CSRD and the European Sustainability Reporting Standards (ESRS), in line with the relevant European framework and with the aim of strengthening the transparency, quality, and traceability of ESG data. Although not yet required to report under the ESRS, the Company has chosen to align itself with the new European standards from now on, moving beyond the previous references used in the past and preparing for regulatory developments in a structured manner.
The Impact Report also confirms Unidata's commitment as a Benefit Corporation to generating shared and measurable value for stakeholders, communities, and the local area, transparently reporting on the results achieved in relation to the common benefit objectives. In this context, the Company highlights the path taken in 2025 towards an increasingly sustainable, responsible, and integrated growth model within the Group's industrial and governance strategy.
OTHER RESOLUTIONS OF THE BOARD OF DIRECTORS
Approval of the Report on Corporate Governance and Ownership Structures for the 2025 financial year and the Report on the 2026 Remuneration Policy and Compensation Paid in 2025
The Board of Directors of the Company approved the Report on Corporate Governance and Ownership Structures for the 2025 financial year prepared by the Company pursuant to art. 123-bis of Legislative Decree no. 58 of 24 February 1998 ("TUF") and in compliance with the provisions of the Corporate Governance Code.
The Board of Directors also approved the Report on the 2026 Remuneration Policy and Compensation Paid in 2025 pursuant to art. 123-ter of the TUF and art. 84-quater and Annex 3A, Scheme 7-bis of Consob Regulation no. 11971/1999 ("Issuers Regulation"), as well as in compliance with art. 5 of the Corporate Governance Code.
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
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The above reports will be made available to the public, within the terms of the law, at the Company's registered office, on the "linfo" storage mechanism (www.linfo.it) and on the company's website investors.unidata.it in the Investors/Governance/Shareholders' Meeting section.
Proposal for authorization to purchase and dispose of treasury shares
The Board of Directors approved the proposal to submit to the Shareholders' Meeting the authorization to purchase and dispose of treasury shares. For further information regarding the proposed authorization to purchase and dispose of treasury shares, please refer to the explanatory report prepared pursuant to Article 125-ter of the TUF and Article 73 of the Issuers' Regulation, which will be made available to the public, within the legal deadlines, at the Company's registered office, on the "linfo" storage mechanism (www.linfo.it), and on the company's website investors.unidata.it in the Investors/Governance/Shareholders' Meeting section.
Proposal for the adoption of an incentive plan based on financial instruments
Furthermore, on today's date, the Board of Directors resolved to submit to the forthcoming Shareholders' Meeting a proposal to approve a compensation plan based on financial instruments (the "Plan") reserved for certain beneficiaries due to the strategic importance of their roles. For further information regarding the Plan, please refer to the information document prepared pursuant to Article 114-bis of the TUF and Article 84-bis of the Issuers' Regulation, which will be made available to the public, within the legal deadlines, at the Company's registered office, on the "linfo" storage mechanism (www.linfo.it), and on the company's website investors.unidata.it in the Investors/Governance/Shareholders' Meeting section.
NOTICE OF CALL OF THE ORDINARY SHAREHOLDERS' MEETING
The Board of Directors has resolved to convene the Ordinary Shareholders' Meeting, in a single call, on 11 May 2026, at the times and locations that will be communicated in the relevant notice of meeting, which will be published in accordance with the procedures and deadlines set forth by law and the Bylaws.
The Notice of Call of the Shareholders' Meeting will also indicate the procedures for participating in the meeting, in accordance with the provisions of the legislation in force from time to time.
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
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DEPOSIT OF THE DOCUMENTATION
The draft financial statements, the annual financial report including the draft financial statements and the reclassified financial statements, the management report, the report of the Board of Statutory Auditors, and the report of the independent auditors will be made available to the public within the legal deadlines, at the Company's registered office, on the "linfo" storage mechanism (www.linfo.it), and on the company's website investors.unidata.it in the Investors/Governance/Shareholders' Meeting section.
The Manager responsible for preparing the corporate accounting documents of Unidata S.p.A., Mr. Roberto Giacometti, certifies, pursuant to art. 154-bis, paragraph 2, of Legislative Decree 58/98, that the accounting information contained in this press release corresponds to the documentary evidence, books, and accounting records.
Finally, please note that the attached income statement and balance sheet represent reclassified statements and, as such, have not been audited by the auditors.
This press release may contain forward-looking statements regarding future events and results of Unidata S.p.A., which are based on current expectations, estimates, and projections regarding the industry in which the Company operates, events, and management's current beliefs. These statements inherently involve risk and uncertainty because they depend on the occurrence of future events and a variety of factors, many of which are beyond Unidata's control, including global macroeconomic conditions, changes in business conditions, further deterioration of markets, the impact of competition, and political, economic, and regulatory developments in Italy.
This press release is available on Borsa Italiana, on the "linfo" storage mechanism (www.linfo.it) and on the Company's website investors.unidata.it in the "Investors/Financial Press Releases" section.
For further information:
UNIDATA S.p.A.
Roberto GIACOMETTI
CFO ed Investor Relations Officer
+39 329 2478696
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
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Investor Relations Advisor
CDR COMMUNICATION
Silvia DI ROSA
+39 335 78 64 209
[email protected]
Eleonora NICOLINI
+39 333 97 73 749
[email protected]
Media Relations
CDR COMMUNICATION
Stefania TREVISOL
+39 347 87 82 490
[email protected]
Specialist
INTERMONTE SIM SPA
Galleria de Cristoforis, 7/8, 20122 Milano
Tel +39 02 771151
Unidata S.p.A., a Telecommunications, Cloud and IoT Operator, was founded in 1985 by three partners still in the Company. With a fiber optic network of about 8,500 km in continuous expansion, a wireless network and a proprietary data center, the Unidata Group supplies over 31,000 business, wholesale and residential customers with ultra-broadband connectivity services with FTTH (Fiber to the Home) network architectures, wireless connectivity, VoIP services, Cloud services and other dedicated solutions, with a high level of reliability and security. The company is also active in the Internet of Things (IoT), with the development and supply of solutions for the home automation and Smart City market.
Unidata S.p.A. ISIN CODE: IT0005573065 (Reuters UD MI – Bloomberg UD IM) is listed on Euronext Milan – STAR segment of Borsa Italiana.
Attachments:
- Consolidated Financial situation as of 31 December 2025
- Consolidated Income statement as of 31 December 2025
- Consolidated Net Financial Position as of 31 December 2025
- Consolidated Cash flow statement as of 31 December 2025
- Separate Financial situation as of 31 December 2025
- Separate Income statement as of 31 December 2025
- Separate Net Financial Position as of 31 December 2025
- Separate Cash flow statement as of 31 December 2025
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
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Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
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CONSOLIDATED FINANCIAL SITUATION AS OF 31 DECEMBER 2025
| € | As of 31 December 2025 | As of 31 December 2024 |
|---|---|---|
| Other intangible assets | 15,982,164 | 16,353,969 |
| Goodwill | 37,525,268 | 37,525,268 |
| Assets for rights of use | 11,306,352 | 9,722,957 |
| Property, plant and equipment | 62,187,567 | 61,838,105 |
| Investments | 12,961,301 | 9,090,967 |
| Non-current financial assets | 3,953,081 | 6,659,515 |
| Active derivative financial instruments | 14,053 | 56,279 |
| Other non-current receivables and assets | 5,546 | 12,796 |
| Active deferred taxes | 1,183,882 | 1,284,102 |
| TOTAL NON-CURRENT ASSETS | 145,119,214 | 142,543,958 |
| Inventories | 2,154,518 | 2,544,088 |
| Contractual activities | 450,000 | 600,000 |
| Trade receivables | 34,428,836 | 27,775,612 |
| Tax receivables | 242,376 | 2,915,235 |
| Other current financial assets | 315,300 | 219,786 |
| Other current receivables and assets | 5,919,022 | 4,744,215 |
| Cash and cash equivalents | 25,090,916 | 4,850,488 |
| TOTAL CURRENT ASSETS | 68,600,968 | 43,649,424 |
| TOTAL ASSETS | 213,720,182 | 186,193,382 |
| Share capital | 10,000,000 | 10,000,000 |
| Legal reserve | 1,373,044 | 848,291 |
| Extraordinary reserve | 388,594 | 239,454 |
| IAS19 TFR reserve | 660,177 | 362,548 |
| Quotation reserve | -132,725 | -132,725 |
| Treasury shares reserve | -3,030,615 | -2,662,233 |
| Other reserves | 37,311,800 | 30,219,717 |
| Retained earning/losses | 27,840,753 | 20,263,167 |
| FTA reserve | 5,298,320 | 5,298,320 |
| Net profit (loss) for the period | 6,992,990 | 8,554,061 |
| TOTAL NET EQUITY | 86,702,338 | 72,990,600 |
| Employment benefits | 2,494,025 | 2,684,194 |
| Passive derivative financial instruments | 860,661 | 1,264,589 |
| Non-current financial loan | 55,157,797 | 37,592,620 |
| Other non-current liabilities | 9,086,084 | 8,730,736 |
| Passive deferred taxes | 4,690,462 | 5,058,870 |
| TOTAL NON-CURRENT LIABILITIES | 72,289,029 | 55,331,009 |
| Trade payables | 35,071,837 | 28,606,719 |
| Tax payables | 0 | 5,345,176 |
| Current financial payables | 7,937,933 | 11,270,466 |
| Other current liabilities | 11,719,045 | 12,649,412 |
| TOTAL CURRENT LIABILITIES | 54,728,815 | 57,871,773 |
| TOTAL LIABILITIES | 213,720,182 | 186,193,382 |
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
C.F./P.IVA 06187081002
Capitale Soc. € 10.000.000
i.v.
UNiDATA
PRESS RELEASE
CONSOLIDATED INCOME STATEMENT AS OF 31 DECEMBER 2025
| € | As of 31 December 2025 | As of 31 December 2024 |
|---|---|---|
| Revenues | 107,008,195 | 99,092,047 |
| Other revenues | 2,494,692 | 2,214,825,000 |
| TOTAL REVENUES | 109,502,887 | 101,306,872 |
| Purchase of raw materials and consumables | 6,073,737 | 5,132,668 |
| Service costs | 63,135,184 | 55,135,566 |
| Other operating costs | 1,437,285 | 1,747,209,000 |
| Value adjustments to assets and other provisions | 39,357,000 | 41,663,000 |
| TOTAL PRODUCTION COSTS | 70,685,563 | 62,057,106 |
| 65% | 61% | |
| ADDED VALUE | 38,817,324 | 39,249,766 |
| 35% | 39% | |
| Personnel costs | 12,094,952 | 12,241,918 |
| 11% | 12% | |
| EBITDA Reported | 26,722,372 | 27,007,848 |
| EBITDA Margin | 24.40% | 26.66% |
| Adjusted EBITDA | 29,371,677 | 28,459,500 |
| Adjusted EBITDA Margin | 26.82% | 28.09% |
| Amortisation | 12,072,072 | 11,072,974 |
| EBIT | 14,650,300 | 15,934,874 |
| Financial income | 2,177,827 | 111,212,000 |
| Financial charges | 3,973,642 | 3,148,432 |
| Income and charges from shareholdings valued at equity | 1,546,455 | 541,338,000 |
| TOTAL FINANCIAL INCOME AND CHARGES | -3,342,270 | -3,578,558 |
| EARNINGS BEFORE TAXES | 11,308,030 | 12,356,316 |
| Income taxes | 4,315,040 | 3,802,255 |
| RESULT FOR THE PERIOD | 6,992,990 | 8,554,061 |
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
C.F./P.IVA 06187081002
Capitale Soc. € 10.000.000
i.v.
UNiDATA
PRESS RELEASE
CONSOLIDATED NET FINANCIAL DEBT AS OF 31 DECEMBER 2025
| 31/12/2025 | 31/12/2024 | |
|---|---|---|
| A Cash | 25,090,916 | 4,850,488 |
| B Cash equivalents | ||
| C Other current financial assets | 315,300 | 219,786 |
| D Liquidity (A + B + C) | 25,406,216 | 5,070,274 |
| E Current financial debt (including debt instruments, but excluding the current portion of non-current financial debt) | 3,890,864 | 2,509,450 |
| F Current portion of non-current financial debt | 4,047,069 | 8,761,016 |
| G Current Financial Debt (E + F) | 7,937,933 | 11,270,466 |
| H Current Net Financial Debt (G - D) | -17,468,283 | 6,200,192 |
| I Non-current financial debt (excluding current portion and debt instruments) | 55,157,797 | 37,592,620 |
| J Debt instruments | ||
| K Trade payables and other non-current payables | ||
| L Non-current financial debt (I + J+ K) | 55,157,797 | 37,592,620 |
| M Total financial debt (H + L) | 37,689,514 | 43,792,812 |
| Secured deposit for loan | 2,400,010 | |
| Financial debt for covenants | 37,689,514 | 41,392,802 |
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
C.F./P.IVA 06187081002
Capitale Soc. € 10.000.000
i.v.
UNIDATA
PRESS RELEASE
CONSOLIDATED CASH FLOW STATEMENT AS OF 31 DECEMBER 2025
| 31/12/2025 | 31/12/2024 | |
|---|---|---|
| A) Cash Flow from operating activities | ||
| Profit (loss) of the period | 6,992,990 | 8,554,061 |
| Income tax expenses | 4,315,040 | 3,802,255 |
| Interest paid / (interest received) | 1,795,815 | 3,037,220 |
| (Capital gain) Capital loss from equity investments evaluated through the equity method | 1,546,455 | 541,338 |
| Other (Capital gain) Capital losses | 486,321 | -167,332 |
| Profit (loss) before income tax expenses, interest, dividends, capital gains and capital losses from transfer | 15,136,621 | 15,767,542 |
| Adjustments for non-cash items | ||
| Fund reserve / (Release of funds) | 1,101,833 | 905,032 |
| Amortisation | 12,072,072 | 11,072,975 |
| Cash Flow before changes in net working capital | 28,310,526 | 27,745,549 |
| Changes in net working capital | ||
| (Increase) Decrease in inventories and recovery rights for costumers' returns | 539,570 | 899,626 |
| (Increase) Decrease of trade receivables | -6,713,403 | -7,406,189 |
| (Increase) Decrease in trade payables and liabilities for future refund to costumers | 6,465,118 | 4,732,150 |
| Other changes in net working capital | -819,372 | 1,170,376 |
| Cash Flow after changes in net working capital | 27,782,439 | 27,141,512 |
| Other adjustments | ||
| (Income tax expenses) | -8,470,133 | -2,050,577 |
| Increase (Use) of funds | 1,386,419 | -1,139,804 |
| Increase (Use) of liabilities for employments benefit | -427,192 | -528,686 |
| Cash Flow from operating activities (A) | 20,271,534 | 23,422,445 |
| B) Cash flows from investing activities | ||
| (Investments)/Disinvestments in intangible fixed assets | -6,034,907 | -3,302,578 |
| (Investments)/Disinvestments in tangible fixed assets | -7,598,217 | -8,675,310 |
| (Investments)/Disinvestments in equity investments | -446,001 | -1,483,323 |
| Other changes in flows from investing activities | -76,927 | -2,239,186 |
| Cash flows from investing activities (B) | -14,156,052 | -15,700,396 |
| C) Cash flows from financing activities | ||
| Third party means | ||
| Increase (decrease) of short-term payables towards banks | 143,737 | -3,352,674 |
| New loans | 50,000,000 | 0 |
| (Pay back of loans) | -34,540,000 | -7,924,493 |
| Interest collected/(paid) | -2,795,225 | -3,037,220 |
| Increase (decrease) in leasing loans | -335,139 | -843,201 |
| Release of secured deposit | 2,400,000 | |
| Other change from financing activities | ||
| Own means | ||
| Dividends paid | -302,584 | -303,492 |
| Purchase of treasury shares | -445,841 | -323,766 |
| Cash flows from financing activities (C) | 14,124,947 | -15,784,847 |
| D) Increase (decrease) in cash and cash equivalents (A+B+C) | 20,240,429 | -8,062,798 |
| Cash and cash equivalents as of Beginning of the Period | 4,850,488 | 12,913,286 |
| Cash and cash equivalents as of End of the Period | 25,090,916 | 4,850,488 |
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
C.F./P.IVA 06187081002
Capitale Soc. € 10.000.000
i.v.
UNiDATA
PRESS RELEASE
SEPARATE FINANCIAL SITUATION AS OF 31 DECEMBER 2025
| € | As of 31 December 2025 | As of 31 December 2024 |
|---|---|---|
| Other intangible assets | 14,358,306 | 14,568,848 |
| Goodwill | 37,525,268 | 37,525,268 |
| Assets for rights of use | 14,902,983 | 13,833,393 |
| Property, plant and equipment | 52,458,790 | 51,706,539 |
| Investments | 22,374,060 | 18,503,726 |
| Non-current financial assets | 3,953,081 | 6,659,515 |
| Active derivative financial instruments | 14,053 | 56,279 |
| Other non-current receivables and assets | 0 | 12,796 |
| Active deferred taxes | 396,052 | 446,591 |
| TOTAL NON-CURRENT ASSETS | 145,982,593 | 143,312,955 |
| Inventories | 2,154,518 | 2,544,088 |
| Contractual activities | 450,000 | 600,000 |
| Trade receivables | 34,518,479 | 30,094,802 |
| Tax receivables | 231,517 | 2,830,078 |
| Other current financial assets | 1,596,734 | 1,487,472 |
| Other current receivables and assets | 5,833,601 | 4,549,221 |
| Cash and cash equivalents | 24,560,822 | 4,720,187 |
| TOTAL CURRENT ASSETS | 69,345,671 | 46,825,848 |
| TOTAL ASSETS | 215,328,264 | 190,138,803 |
| Share capital | 10,000,000 | 10,000,000 |
| Legal reserve | 1,373,044 | 848,291 |
| Extraordinary reserve | 57,007 | 57,007 |
| IAS19 TFR reserve | 611,281 | 329,592 |
| Quotation reserve | -132,725 | -132,725 |
| Treasury shares reserve | -3,030,615 | -2,662,233 |
| Other reserves | 37,311,800 | 30,219,717 |
| Retained earning/losses | 30,233,280 | 20,565,546 |
| FTA reserve | 5,298,320 | 5,298,320 |
| Net profit (loss) for the period | 6,811,977 | 10,495,071 |
| TOTAL NET EQUITY | 88,533,369 | 75,018,586 |
| Employment benefits | 2,357,952 | 2,554,048 |
| Passive derivative financial instruments | 860,661 | 1,264,589 |
| Non-current financial loan | 58,407,322 | 41,323,416 |
| Other non-current liabilities | 6,493,193 | 7,575,829 |
| Passive deferred taxes | 3,471,495 | 3,766,690 |
| TOTAL NON-CURRENT LIABILITIES | 71,590,623 | 56,484,572 |
| Trade payables | 35,450,547 | 29,203,236 |
| Tax payables | 0 | 5,230,474 |
| Current financial payables | 8,419,204 | 11,735,972 |
| Other current liabilities | 11,334,521 | 12,465,963 |
| TOTAL CURRENT LIABILITIES | 55,204,272 | 58,635,645 |
| TOTAL LIABILITIES | 215,328,264 | 190,138,803 |
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
C.F./P.IVA 06187081002
Capitale Soc. € 10.000.000
i.v.
UNiDATA
PRESS RELEASE
SEPARATE INCOME STATEMENT AS OF 31 DECEMBER 2025
| € | As of 31 December 2025 | As of 31 December 2024 |
|---|---|---|
| Revenues | 106,700,264 | 102,125,166 |
| Other revenues | 2,612,683 | 2,203,404,000 |
| TOTAL REVENUES | 109,312,947 | 104,328,570 |
| Purchase of raw materials and consumables | 6,073,651 | 5,293,590 |
| Service costs | 63,863,773 | 55,952,374 |
| Other operating costs | 1,332,707 | 1,639,402,000 |
| Value adjustments to assets and other provisions | 39,357,000 | 41,663,000 |
| TOTAL PRODUCTION COSTS | 71,309,488 | 62,927,029 |
| 65% | 60% | |
| ADDED VALUE | 38,003,459 | 41,401,541 |
| 35% | 40% | |
| Personnel costs | 11,995,803 | 12,234,521 |
| 11% | 12% | |
| EBITDA Reported | 26,007,656 | 29,167,020 |
| EBITDA Margin | 23.79% | 27.96% |
| Adjusted EBITDA | 28,656,961 | 30,618,672 |
| Adjusted EBITDA Margin | 26.22% | 29.35% |
| Amortisation | 11,410,085 | 10,441,889 |
| EBIT | 14,597,571 | 18,725,131 |
| Financial income | 2,191,791 | 111,212,000 |
| Financial charges | 4,198,283 | 3,293,481 |
| Income and charges from shareholdings valued at equity | 1,546,455 | 541,338,000 |
| TOTAL FINANCIAL INCOME AND CHARGES | -3,552,947 | -3,723,607 |
| EARNINGS BEFORE TAXES | 11,044,624 | 15,001,524 |
| Income taxes | 4,232,647 | 4,506,453 |
| RESULT FOR THE PERIOD | 6,811,977 | 10,495,071 |
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
C.F./P.IVA 06187081002
Capitale Soc. €. 10.000.000
i.v.
UNiDATA
PRESS RELEASE
SEPARATE NET FINANCIAL DEBT AS OF 31 DECEMBER 2025
| 31/12/2025 | 31/12/2024 | |
|---|---|---|
| A Cash | 24,560,822 | 4,720,187 |
| B Cash equivalents | ||
| C Other current financial assets | 315,301 | 219,786 |
| D Liquidity (A + B + C) | 24,876,123 | 4,939,973 |
| E Current financial debt (including debt instruments, but excluding the current portion of non-current financial debt) | 4,372,135 | 1,303,479 |
| F Current portion of non-current financial debt | 4,047,069 | 8,761,016 |
| G Current Financial Debt (E + F) | 8,419,204 | 10,064,495 |
| H Current Net Financial Debt (G - D) | -16,456,919 | 5,124,522 |
| I Non-current financial debt (excluding current portion and debt instruments) | 58,407,322 | 41,323,416 |
| J Debt instruments | ||
| K Trade payables and other non-current payables | ||
| L Non-current financial debt (I + J+ K) | 58,407,322 | 41,323,416 |
| M Total financial debt (H + L) | 41,950,403 | 46,447,938 |
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
C.F./P.IVA 06187081002
Capitale Soc. €. 10.000.000
i.v.
UNiDATA
PRESS RELEASE
SEPARATE CASH FLOW STATEMENT AS OF 31 DECEMBER 2025
| 31/12/2025 | 31/12/2024 | |
|---|---|---|
| A) Cash Flow from operating activities | ||
| Utile (perdita) del periodo | 6,811,977 | 10,495,071 |
| Imposte sul reddito | 4,232,647 | 3,802,255 |
| Interessi passivi/(Interessi attivi) | 2,006,492 | 3,182,269 |
| (Plus) minuvalenza da partecipazioni valutate con il metodo del PN | 1,546,455 | 541,338 |
| Altre (Plus) minuvalenze | 667,428 | -167,332 |
| Profit (loss) before income tax expenses, interest, dividends, capital gains and capital losses from transfer | 15,264,999 | 17,853,601 |
| Adjustments for non-cash items | ||
| Fund reserve / (Release of funds) | 1,093,253 | 869,289 |
| Amortisation | 11,410,085 | 10,441,890 |
| Cash Flow before changes in net working capital | 27,768,337 | 29,164,781 |
| Changes in net working capital | ||
| (Increase) Decrease in inventories and recovery rights for costumers' returns | 539,570 | 899,626 |
| (Increase) Decrease of trade receivables | -4,483,856 | -9,725,379 |
| (Increase) Decrease in trade payables and liabilities for future refund to costumers | 6,247,311 | 5,341,748 |
| Other changes in net working capital | -1,172,157 | 1,553,979 |
| Cash Flow after changes in net working capital | 28,899,205 | 27,234,755 |
| Other adjustments | ||
| (Income tax expenses) | -8,318,947 | -1,882,791 |
| Increase (Use) of funds | -198,560 | -1,472,906 |
| Increase (Use) of liabilities for employments benefit | -445,512 | -498,417 |
| Cash Flow from operating activities (A) | 19,936,187 | 23,380,641 |
| B) Cash flows from investing activities | ||
| (Investments)/Disinvestments in intangible fixed assets | -5,423,167 | -2,739,422 |
| (Investments)/Disinvestments in tangible fixed assets | -7,598,217 | -8,227,134 |
| (Investments)/Disinvestments in equity investments | -446,001 | -1,483,323 |
| Other changes in flows from investing activities | -76,927 | -2,239,186 |
| Cash flows from investing activities (B) | -13,544,312 | -14,689,065 |
| C) Cash flows from financing activities | ||
| Third party means | ||
| Increase (decrease) of short-term payables towards banks | 67,133 | -3,352,674 |
| New loans | 50,000,000 | 0 |
| (Pay back of loans) | -34,540,000 | -7,924,493 |
| Interest collected/(paid) | -2,929,298 | -3,182,269 |
| Increase (decrease) in leasing loans | -800,645 | -1,293,035 |
| Release of secured deposit | 2,400,000 | |
| Other change from financing activities | ||
| Own means | ||
| Dividends paid | -302,584 | -303,492 |
| Purchase of treasury shares | -445,844 | -323,767 |
| Cash flows from financing activities (C) | 13,448,761 | -16,379,730 |
| D) Increase (decrease) in cash and cash equivalents (A+B+C) | 19,840,636 | -7,688,154 |
| Cash and cash equivalents as of Beginning of the Period | 4,720,187 | 12,408,341 |
| Cash and cash equivalents as of End of the Period | 24,560,822 | 4,720,187 |
UNIDATA S.p.A.
Sede legale Roma
Viale A. G. Eiffel 100
00148 Roma (RM).
Tel. (+39) 06 4040 41
Milano
Viale E. Jenner 33
20159 Milano (MI)
Tel. (+39) 02 8908 91
Bari
Viale delle Dalie 5
70026 Modugno (BA)
Tel. (+39) 06 4040 41
[email protected]
[email protected]
C.F./P.IVA 06187081002
Capitale Soc. € 10.000.000
i.v.