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MM Spa is a joint-stock company that is 100% owned by the Municipality of Milan.
Below you can view the main documents describing the institutional and organizational structure of the Company and financial information about it.
Chairperson
CEO
BoD
BoD
BoD
Chairperson
Standing Auditors
Standing Auditors
Alternate Auditors
Alternate Auditors
This section includes MM economic-financial data from the separate and consolidated financial statements.
Consolidated Financial Statements
Separate Financial Statements
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | in thousands of euros | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | webmastertoolid@gmail.com | 29/04/2024 09:31 | Anna Tonini | 30/04/2026 09:05 | Production value | 369.594 | 320.432 | 308.171 | 298.360 | 266.936 | 268.137 | 273.661 | 259.282 |
| 2 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 29/04/2026 10:48 | EBITDA | 99.648 | 98.500 | 74.189 | 53.039 | 53.134 | 66.908 | 55.284 | 68.819 |
| 3 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 29/04/2026 10:49 | EBIT | 60.900 | 62.332 | 37.123 | 13.172 | 19.284 | 38.991 | 13.553 | 53.330 |
| 4 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 29/04/2026 10:49 | Pre-tax result | 53.843 | 53.959 | 27.829 | 6.723 | 13.431 | 32.877 | 6.714 | 44.573 |
| 5 | webmastertoolid@gmail.com | 29/04/2024 09:35 | Anna Tonini | 29/04/2026 10:49 | Net result | 36.402 | 38.718 | 20.101 | 5.996 | 9.127 | 22.928 | 4.010 | 30.836 |
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | in thousands of euros | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | webmastertoolid@gmail.com | 29/04/2024 09:31 | Anna Tonini | 30/04/2026 09:06 | Engineering | 47.724 | 36.243 | 32.478 | 30.309 | 36.156 | 35.140 | 30.731 | 30.797 |
| 2 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 30/04/2026 09:06 | Integrated Water Service | 268.539 | 241.717 | 239.737 | 234.027 | 205.519 | 208.058 | 227.377 | 213.462 |
| 3 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 29/04/2026 11:14 | Housing | 19.282 | 18.972 | 19.211 | 17.277 | 15.905 | 16.522 | 13.451 | 12.860 |
| 4 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 29/04/2026 11:14 | Facility and Real Estate Management | 2.029 | 3.126 | 2.072 | 2.033 | 2.035 | 2.061 | 2.059 | 2.030 |
| 5 | webmastertoolid@gmail.com | 29/04/2024 09:35 | Anna Tonini | 30/04/2026 09:07 | Routine Maintenance of Plants and Infrastructure | 14.565 | 12.776 | 11.659 | 10.957 | 5.064 | 3.745 | ||
| 6 | webmastertoolid@gmail.com | 29/04/2024 11:13 | Anna Tonini | 29/04/2026 11:14 | ERP Green Management | 16.269 | 6.334 | 1.709 | 1.201 | ||||
| 7 | webmastertoolid@gmail.com | 29/04/2024 11:13 | Anna Tonini | 30/04/2026 09:07 | Staff | 1.185 | 1.265 | 1.306 | 2.556 | 2.257 | 2.610 | 43 | 133 |
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | in thousands of euros | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | webmastertoolid@gmail.com | 29/04/2024 09:31 | Anna Tonini | 29/04/2026 11:30 | Net fixed assets | 544.750 | 521.410 | 490.871 | 466.814 | 436.783 | 417.751 | 381.163 | 326.678 |
| 2 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 29/04/2026 11:30 | Net financial position | -142.178 | -181.354 | -209.451 | -240.004 | -214.054 | -194.596 | -170.931 | -126.799 |
| 3 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 29/04/2026 11:30 | Net equity | 326.212 | 305.356 | 266.550 | 246.308 | 238.708 | 241.079 | 217.723 | 213.416 |
| 4 | webmastertoolid@gmail.com | 29/04/2024 09:34 | Anna Tonini | 30/04/2026 09:08 | Invested capital | 468.390 | 486.710 | 476.001 | 486.312 | 452.762 | 435.675 | 388.655 | 340.215 |
| 5 | webmastertoolid@gmail.com | 29/04/2024 09:35 | Anna Tonini | 30/04/2026 09:08 | Return on Sales (EBIT/Sales) | 16% | 19% | 12% | 4% | 7% | 15% | 5% | 21% |
| 6 | webmastertoolid@gmail.com | 29/04/2024 11:13 | Anna Tonini | 30/04/2026 09:08 | Return on Investment (EBIT/Invested capital) | 13% | 13% | 8% | 3% | 4% | 9% | 3% | 16% |
| 7 | webmastertoolid@gmail.com | 29/04/2024 11:13 | Anna Tonini | 30/04/2026 09:09 | Return on Equity (EBIT/Net equity) | 19% | 20% | 14% | 5% | 8% | 16% | 6% | 25% |
Nel dicembre 2016, MM ha emesso un prestito obbligazionario per un importo di 100 milioni di euro con scadenza nel 2035 connesso al finanziamento degli investimenti del Servizio Idrico Integrato (Codice ISIN: IT0005225898). Le obbligazioni sono quotate sul Main Securities Market dell’Irish Stock Exchange.
MM also obtained a rating from the two leading global agencies, Standard & Poor’s and Moody’s.
Milan, 25 June 2025
The Shareholders’ Meeting approved the 2024 financial statements.
Milan, 29 May 2023
The Shareholders’ Meeting approved the 2022 financial statements.
Milan, 29 June 2022
The Shareholders’ Meeting approved the financial statements for the financial year 2021.
Milan, 28 June 2021
The Shareholders’ Meeting approved the 2020 annual financial statements.
Milan, 13 July 2020 – The Shareholders’ meeting approved MM S.p.A. annual financial statements as at 31 December 2019.
Milan, 30 April 2019 – The Shareholders’ Meeting approved the 2018 annual financial statements. Growing EBITDA (+25 percent) and net income of about 31 million euros.
Milan, 30 May 2018 – The Shareholders’ Meeting of MM S.p.A., which met on Wednesday, May 30, 2018, approved the financial statements for the year ended Dec. 31, 2017.
Milan, 24 January 2018 – MM S.p.A. (the “Issuer”) – EUR 100,000,000 3.15 per cent. senior secured amortizing fixed rate notes due 23 December 2035 admitted to trading on the regulated market of the Irish Stock Exchange (the “Notes”).
Milan, 28 December 2017 – In view of the contents of the measure of reconnaissance of the shareholdings owned, adopted by the City of Milan by City Council Resolution No. 26 of 09/25/2017, the processes of merger by incorporation of Metro Engineering and Naples Metro Engineering Companies into MM S.p.A. were initiated. The deed of merger was signed on December 27, 2017.
Milan, 26 June 2017 – The MM Spa Shareholders’ Meeting, which met today, approved the financial statements for the year ended Dec. 31, 2016.
Milan, 25 October 2017 – MM S.p.A. (the “Issuer”) – EUR 100,000,000 3.15 per cent. senior secured amortizing fixed rate notes due 23 December 2035 admitted to trading on the regulated market of the Irish Stock Exchange (the “Notes”).