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Financial Information

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.

Board of Directors

Simone Dragone

Chairperson

Francesco Mascolo

CEO

Roberta Di Vieto

BoD

Giuseppina Lanza

BoD

Marco Plazzotta

BoD

Board of Statutory Auditors

Vittorio Grazi

Chairperson

Ilaria Moretti

Standing Auditors

Andrea Parolini

Standing Auditors

Roberta Ricco

Alternate Auditors

Giovanni Maria Ruzzu

Alternate Auditors

Financial Data

This section includes MM economic-financial data from the separate and consolidated financial statements.

Consolidated Financial Statements

Separate Financial Statements

Income statement data

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at in thousands of euros 2023 2022 2021 2020 2019 2018 2017
1 webmastertoolid@gmail.com 29/04/2024 09:31 webmastertoolid@gmail.com 10/07/2024 17:39 Production value 308.171 298.360 266.936 268.137 273.661 259.282 226.831
2 webmastertoolid@gmail.com 29/04/2024 09:34 Anna Tonini 06/06/2024 16:15 EBITDA 74.189 53.039 53.134 66.908 55.284 68.819 55.461
3 webmastertoolid@gmail.com 29/04/2024 09:34 Anna Tonini 06/06/2024 16:15 EBIT 37.122 13.172 19.284 38.991 13.553 53.330 40.913
4 webmastertoolid@gmail.com 29/04/2024 09:34 webmastertoolid@gmail.com 10/07/2024 17:39 Pre-tax result 27.829 6.723 13.431 32.877 6.714 44.573 33.529
5 webmastertoolid@gmail.com 29/04/2024 09:35 webmastertoolid@gmail.com 10/07/2024 17:39 Net result 20.101 5.996 9.127 22.928 4.010 30.836 23.835

Production value by business line

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at in thousands of euros 2023 2022 2021 2020 2019 2018 2017
1 webmastertoolid@gmail.com 29/04/2024 09:31 webmastertoolid@gmail.com 10/07/2024 17:44 Engineering 32.478 30.309 36.156 35.140 30.731 30.797 26.020
2 webmastertoolid@gmail.com 29/04/2024 09:34 webmastertoolid@gmail.com 10/07/2024 17:44 Integrated Water Service 239.737 234.027 205.519 208.058 227.377 213.462 187.346
3 webmastertoolid@gmail.com 29/04/2024 09:34 webmastertoolid@gmail.com 10/07/2024 17:45 Housing 19.211 17.277 15.905 16.522 13.451 12.860 11.116
4 webmastertoolid@gmail.com 29/04/2024 09:34 webmastertoolid@gmail.com 10/07/2024 17:46 Facility and Real Estate Management 2.072 2.033 2.035 2.061 2.059 2.030 2.349
5 webmastertoolid@gmail.com 29/04/2024 09:35 webmastertoolid@gmail.com 10/07/2024 17:46 Routine Maintenance of Plants and Infrastructure 11.659 10.957 5.064 3.745
6 webmastertoolid@gmail.com 29/04/2024 11:13 webmastertoolid@gmail.com 10/07/2024 17:46 ERP Green Management 1.709 1.201
7 webmastertoolid@gmail.com 29/04/2024 11:13 Anna Tonini 06/06/2024 16:19 Staff 1.306 2.556 2.257 2.610 43 133

Balance sheet data

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at in thousands of euros 2023 2022 2021 2020 2019 2018 2017
1 webmastertoolid@gmail.com 29/04/2024 09:31 webmastertoolid@gmail.com 10/07/2024 17:50 Net fixed assets 490.871 466.814 436.783 417.751 381.163 326.678 263.843
2 webmastertoolid@gmail.com 29/04/2024 09:34 webmastertoolid@gmail.com 10/07/2024 17:50 Net financial position -209.451 -240.004 -214.054 -194.596 -170.931 -126.799 -137.143
3 webmastertoolid@gmail.com 29/04/2024 09:34 webmastertoolid@gmail.com 10/07/2024 17:50 Net equity 266.549 246.308 238.708 241.079 217.723 213.416 177.797
4 webmastertoolid@gmail.com 29/04/2024 09:34 webmastertoolid@gmail.com 10/07/2024 17:51 Invested capital 476.001 486.312 452.762 435.675 388.655 340.215 314.940
5 webmastertoolid@gmail.com 29/04/2024 09:35 webmastertoolid@gmail.com 10/07/2024 17:51 Return on Sales (EBIT/Sales) 12% 4% 7% 15% 5% 21% 18%
6 webmastertoolid@gmail.com 29/04/2024 11:13 webmastertoolid@gmail.com 10/07/2024 17:51 Return on Investment (EBIT/Invested capital) 8% 3% 4% 9% 3% 16% 13%
7 webmastertoolid@gmail.com 29/04/2024 11:13 webmastertoolid@gmail.com 10/07/2024 17:51 Return on Equity (EBIT/Net equity) 14% 5% 8% 16% 6% 25% 23%

Investor relation

In December 2016, MM issued a bond of €100 million maturing in 2035 connected with the financing of investments for the Integrated Water Service (ISIN Code: IT0005225898). The bonds are listed on the Main Securities Market of the Irish Stock Exchange.

MM also obtained a rating from the two leading global agencies, Standard & Poor’s and Moody’s.

Financial News

Milan, 29 May 2023
– The Shareholders’ meeting approved MM S.p.A. annual financial statements as at 31 December 2022.

Milan, 29 June 2022
– The Shareholders’ meeting approved MM S.p.A. annual financial statements as at 31 December 2021.

Milan, 28 June 2021
– The Shareholders’ meeting approved MM S.p.A. annual financial statements as at 31 December 2020.

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”).