Tamburi Investment Partners (TIP) Q4 2024 earnings summary

Executive summary

• Pro forma consolidated profit for 2024 was €64.6 million, down from €149 million in 2023, which included €115 million in capital gains.

• Consolidated equity remained stable at over €1.4 billion after dividend distributions and treasury share purchases.

• Proposed dividend increase to €0.16 per share, with payment scheduled for June 2025.

• Strong performance from investees, notably Alpitour and OVS, with most main companies reporting rising or stable turnover.

Financial highlights

• Pro forma consolidated profit for 2024: €64.6 million; consolidated net profit: €41.3 million.

• Capital gains in 2024 were €24 million, significantly lower than the prior year.

• Share of profit from associated companies contributed €69.5 million.

• Financial income included €21.6 million from Prysmian share sale, €8.9 million in dividends, and €1.8 million in interest.

• Net financial position as of December 31, 2024, was negative €422 million, in line with 2023.

Outlook and guidance

• Management expects 2025 to be similar or slightly better than 2024, with stable or slightly improved profitability.

• Anticipates a year focused on rationalization, consolidation, and cost-cutting rather than revenue growth.

• Excellent competitive positioning and capital strength of investees seen as key advantages.