Approval of the Annual Report 2020

29 July 2021
Today, the Shareholders' Meeting approved the Financial Statements and the Consolidated Financial Statements 2020, the drafts of which were approved on 31 May by the Board of Directors in office since 12 December 2019, with Chairman Luigi Perri and Chief Executive Officer Emanuele Fontani.

In 2020 Sogin achieved a volume of nuclear decommissioning (dismantling) activities of approximately EUR 72.5 million. This is the second-best result ever, with an increase of 50% compared to EUR 48.3 million in 2019, accompanied by a significant reduction in the Group's operating costs, which fell to around EUR 170 million, compared to EUR 185.3 million in 2019 (-8%).

The Group's operating result (EBIT), net of depreciation, amortization, and provisions for the period, was approximately EUR 8.9 million compared to EUR 1.8 million in 2019. The Sogin Group closed the fiscal year 2020 with a consolidated net income of about EUR 7.1 million, an increase of approximately EUR 5.9 million compared to the previous year.

The financial results achieved in 2020 are in line with the acceleration of the dismantling activities envisaged in the business plan 2020 – 2025. These activities are also confirmed in terms of business continuity. The economic value of the dismantling activities carried out in the first six months of this year amounts to EUR 33.7 million, which represents the best six-month period ever.

These are significant results, as they were achieved despite the health emergency regarding containment of the Covid 19 virus and were also achieved thanks to the enhancement of internal skills and the improvement of company performance, carried out through the new organizational model adopted by the Group.

Following this approval, the 2020 Group Report is available from today on the website together with the 2020 Sustainability Report that the Sogin Board of Directors approved at its meeting on 8 July.