Preatoni Group: EBITDA up 21.5% in first half 2026, net debt declining
In the first half of 2026, Preatoni Group demonstrates limited revenue growth but more pronounced profitability improvements, driven by the Hospitality/Tourism division.
The group combines this operational improvement with a decline in net debt and announces, in parallel, an evolution of its governance with the entry of the founder's sons to the Board of Management.
Stable revenue, EBITDA up 21.5%
As of June 30, 2026, Preatoni Group reports revenue of €51.5 million, up 1.2% compared to June 30, 2025. EBITDA stands at €13.3 million, up 21.5% year-on-year, bringing the EBITDA margin to 25.8%, or 4 percentage points higher than the same period last year.
The Real Estate Development division sees its revenue decline by 7.6%, to €26.1 million compared to €28.2 million a year earlier, a movement attributed by the group to the product mix over the period (type of housing sold). Its EBITDA nonetheless increases slightly, to €8.5 million compared to €8.3 million.
The Hospitality/Tourism division reports revenue of €25.4 million, growing by 12.2%, compared to €22.7 million on June 30, 2025. Its EBITDA rises from €2.6 million to €4.3 million.
Hotels support earnings and net debt declines
The Domina Coral Bay resort in Sharm El Sheikh recorded an occupancy rate close to 85% at the end of June and a RevPAR of €105.0 on June 30, 2026, compared to €101.7 on December 31, 2025. The Domina Milano Fiera hotel benefited from attendance related to the Milano Cortina Winter Olympics in February.
Operating income increases to €10.4 million, compared to €6.9 million a year earlier. It includes a disposal gain of €2.4 million related to the group's exit from a project in Dubai. Consolidated net income stands at €5.7 million, compared to €4.5 million on June 30, 2025, of which €4.3 million in net income attributable to the group.
From a financial perspective, gross financial debt decreases by €6.8 million, to €82.0 million compared to €88.8 million on December 31, 2025, while gross cash increases to €19.8 million compared to €15.2 million. Net financial debt thus declines by €11.4 million, to €62.2 million. Free cash flow reaches €14.0 million, compared to €12.4 million in the first half of 2025.
2026 Outlook: revenue growth and EBITDA margin above 20%, and entry of the founder's sons to the Board of Management
For fiscal year 2026, Preatoni Group anticipates growth in its annual revenue coupled with an EBITDA margin above 20%, absent major geopolitical disruptions. The group highlights ongoing programs in Tallinn, Riga and Vilnius, as well as the launch in the second half of 2026 of the Borgo project in Vilnius (creation of 50 high-end apartments in a historic building in the old town).
The group is also evolving its governance. Patrick Werner submitted his resignation from the presidency of the Board of Management effective October 16, 2026. The Supervisory Board, meeting on September 25, 2026, appointed Oscar Crameri, a member of the Board of Management, to the presidency of this body.
At the same time, Eugenio Preatoni and Edoardo Preatoni, the two sons of founder Ernesto Preatoni, respectively heading the Hospitality/Tourism and Real Estate Development divisions, become members of the Board of Management as of October 16, 2026.
