The Economics
The results achieved in fiscal year 2024 confirm the Group’s solidity, with aggregate production value of €206 million and margins close to 19%.
“A result stemming from harmonious and effective organization based, predominantly, on the expertise accumulated over the years and residing in the various facets of Proger’s Human Capital”
Roberto Lombardi, CFO
Several factors contributed to this growth:
- The high level of expertise of the professionals who participated in creating value.
- The significant and diversified order portfolio, which has enabled and will continue to enable significant developments in production volumes and related margins.
- The complex and functional organizational and governance model.
- An efficient and effective internal control system that monitors the group’s financial and operational management risks.
The key drivers for 2024 are shown below:
| KEY DRIVERS (€ Mil.) | Proger Spa | Proger Consolidated |
|---|---|---|
| Value of Production | 181,6 | 190,6 |
| Proger spa | 181,6 | |
| Anthemis | 1,7 | |
| IMP | 11,1 | |
| Proger Romania | 8,8 | |
| Suissemed | 0,9 | |
| Caspian Proger | 2,2 | |
| Consolidation Adjustment OIC 17 | -15,7 | |
| Ebitda |
28,08 |
35,80 |
| Ebitda margin |
15,47% |
18,81% |
| Interest Coverage Ratio |
|
6,7 |
| Net Profit |
14,2 |
19,50 |
| Net Equity |
98,3 |
98,20 |
| Net Financial Position |
-1,9 |
+0,3 |
In 2024, the Proger Group confirmed the effectiveness of its diversification strategy implemented through the main business units and business lines shown below:
| Consolidated Production Value Breakdown | 31/12/2024 |
|---|---|
| B.U. CIVIL ENGINEERING | 114,2 |
| B.L. ISPEZIONE E SORVEGLIANZA | 59,1 |
| B.L. INFRASTRUCTURE | 41,5 |
| B.L. BUILDINGS | 8,3 |
| B.L. OPERE IDRAULICHE E MARITTIME | 4,2 |
| B.L. INTEGRATED SECURITY | 1,1 |
| B.U. OIL&GAS ENERGY | 47,6 |
| BRANCH KSA | 19,9 |
| B.U. GREEN ENERGY | 7,7 |
| CORPORATE | 1,2 |
| TOTAL | 190,6 |
Proger’s business units (BUs) continue to grow and diversify in the field of services related to various sectors, including:
- Infrastructure inspection and surveillance activities (32% of VoP) and highly technical engineering services related to large infrastructure (21% of VoP)
- Engineering, management and procurement services for the construction of plants and infrastructure necessary for energy production and transmission, as well as for offshore infrastructure (25% of VoP).
- Environmental pre-feasibility studies and permitting for wind farms, as well as engineering services for BESS, biogas, and biomethane plants (8% of VoP).
- Process engineering, technology transfer, and technical engineering services account for 14% of VoP.
Financial Rating and Credit Reputation 2025
Proger’s excellent economic and financial health and solidity have been certified by Cerved, the leading rating agency in the Italian and European markets. In early 2025, Cerved raised Proger’s public rating from A2.2 to A2.1, confirming the company’s economic and financial solidity, as well as its high level of creditworthiness.
Furthermore, based on the results achieved during the 2024 financial year, Proger received additional recognition for its sustainability efforts, earning a Class A rating and an increased three-star legality rating. For the second consecutive year, the company was honored at the MF CentraleRisk Credit Reputation Awards, which recognized its punctuality and transparency in relations with credit institutions.
