The Board of Directors of Cinecittà S.p.A. has examined and unanimously approved the 2022 financial statements with a positive pre-tax result of 1.3 million euros. Net of taxes, the positive figure stands at 954,000 euros, to which an adjustment of deferred tax assets of approximately 883,000 euros must be added, thus determining a net profit for the year of over 1.8 million. A result that brings the company back to profit one year ahead of the forecast of the 2022-26 business plan, which assumed a negative result after taxes of approximately 384,000 euros.
A definitely positive figure, therefore, which arrives even before the expected expansion of production capacity thanks to the investments related to the Recovery Plan. The industrial and commercial relaunch, the strengthening of business development activities, the redevelopment interventions of the existing spaces, and the rationalization and efficiency of the production processes lie at the basis of this growth. In 2022, the industrial activities recorded a turnover of 39 million euros, more than doubled compared to 2021, due to the full occupancy of the spaces (over 75% vs. 31% in previous years) and the strong increase in orders for the art department services and scenic constructions.
Specifically, the turnover recorded by the industrial areas: Soundstages, Venues, and Set Designs realized a profit of 34.5 million euros, 19 million of which related to the Art Department and Scene Constructions, 3.6 million euros to Post-Production, and 854,000 euros ‘Cinecittà Shows Off.’ The institutional areas reported revenues of 2.4 million euros, mainly originating from the Library marketing and the Archivio Luce, with a good improvement compared to 2021.
The Recovery Plan investments set in the development plan are in line with the schedule. The first national target for the publication of tenders for the construction of 9 studios (5 new and 4 to be refurbished) of December 31, 2022 has been achieved, and a Convention was signed with the Cinema and Audiovisual Directorate General to regulate the implementation of the Recovery Plan. At the same time, the acquisition of part of the land neighboring the Cinecittà area owned by Cassa Depositi e Prestiti, included in the Recovery Plan, is proceeding, awaiting formal approval from the Shareholders’ Meeting and should be completed within the first half of 2023.
Cinecittà SpA, at the end of 2022, stands as a key player in the national and international arena in terms of production capacity, capable of accompanying the growth of the audiovisual system towards a sustainable industrial structure, from an economic, environmental, and social viewpoint, with significant multiplier effects on the entire industry.