- The Group reaches €187.3 million in revenues, marking a 19% increase compared to the previous year
- EBITDA stands at €65 million, growing by 21%, confirming the ESCo’s ability to enhance its profitability
- Expansion strategy through external growth: Termotecnica Sebina, Smart Parking Systems, and City Metrics have been acquired to broaden the range of smart city solutions offered
Vicenza, May 13, 2025 — City Green Light closes 2024 with growth, strengthening its leadership in the energy efficiency sector and smart city solutions.
This emerges from the Group’s second consolidated financial statement, which records a solid increase in production value, resulting from a strategy focused on dimensional expansion and skills enhancement. Targeted investments have enabled the diversification of the service portfolio and the capture of new market opportunities.
Financial Performance: Key Highlights
The consolidated revenue reached €187,257,988, marking a 19% increase compared to the previous fiscal year (2023 figure: €156,810,118). This growth reflects the rising demand for advanced solutions in efficient energy resource management and smart city development, positioning City Green Light as a key player in this field. The Group’s operating profitability remains strong, with an EBITDA of €64,951,251, up 21% from €53,720,284 in 2023.
To complete the overview of the Group’s financial performance, the Net Financial Position as of December 31, 2024, stands at €43,851,710 (€20,049,393 as of December 31, 2023), corresponding to a gross financial position of €88,276,678. The increase in the Net Financial Position is due to financing investments and acquisitions made during the year, supporting long-term growth. The Leverage Ratio, defined as the ratio between EBITDA and Net Financial Position, is 0.68x, demonstrating the Group’s ability to sustain its indebtedness over the long term through cash flows generated by its core operations.
The Group’s Net Equity as of December 31, 2024, amounts to €157,981,869 (€135,880,515 as of December 31, 2023), with a Debt-to-Equity ratio of 0.28x.
“In 2024, the Group continued its strategic positioning as a key partner for Public Administrations in achieving energy efficiency targets. This was accomplished while maintaining a solid capital structure (Debt-to-Equity ratio of 0.28x) and financial stability (Leverage ratio of 0.68x), as well as confirming one of the highest profitability levels among competitors, with an EBITDA Margin of 35%.
The 2024 EBITDA, amounting to €65 million, marks a 21% increase compared to the previous year, also supported by the M&A transactions carried out during the period. These transactions were carefully evaluated with the goal of maximizing long-term returns on capital invested by shareholders. The Group’s financial soundness and the positive outlook of the reference sector allow us to look to future challenges with confidence” stated Eugenio Colla, CFO of City Green Light.
Growth and M&A strategies
In 2024, City Green Light pursued a clear external growth strategy, realized through the acquisition of companies offering complementary expertise and solutions.
In particular, the acquisition of Termotecnica Sebina enabled the Group to strengthen its know-how in the plant engineering sector, while the integration of Smart Parking Systems marked a strategic entry into the smart parking solutions market. Finally, the acquisition of CityMetrics further enhanced the Group’s capabilities in remote control and management technologies for essential smart city services.
These strategic choices position the Group as an integrated player, able to offer a comprehensive range of solutions for the cities of the future.
“2024 was a year of strong growth and transformation for City Green Light, and the results confirm the soundness of our strategy, with increased net revenues and targeted investments placing us among the key players in the smart city sector. We are confident in our ability to generate long-term value” stated Alessandro Visentin, CEO of City Green Light.
Outlook and Growth Perspectives
City Green Light operates in a favorable market environment, marked by growing attention to sustainability, energy efficiency, and the digital transformation of cities.
The outlook for 2025 confirms this trend, although it will be essential to closely monitor developments in the macroeconomic landscape.
In particular, geopolitical tensions and the volatility of energy and raw material prices are factors that could impact the operational context.
City Green Light is focused on consolidating its leadership in the Italian market and developing innovative solutions, with the primary goal of generating sustainable value for the communities it serves and for all stakeholders.
MEDIA AGENCY – M&PARTNERS
Filippo Nani, f.nani@mepartners.it
Francesca Magnanini, f.magnanini@mepartners.it – mob. +39 3386910347