Group revenues increased from € 275.3 to € 304.6 million, of which € 285 from the construction, engineering, concessions and multi-utility sectors. The remainder included revenues from wine, hospitality, transport and services.
Higher revenues and profits in the year of the pandemic for Fininc, the Dogliani family holding company in Cuneo, parent of a group with over one thousand five-hundred employees. The company, founded over 50 years ago with headquarters in Turin, is led by Claudio Dogliani, nephew of the now eighty-year-old president Matterino, one of the most respected engineers in Italy, and closed the 2020 consolidated financial statement with year-on year growth in net worth from 827.2 to 932.6 million Euro, and period growth from 821 to 908.2 million. Group revenues increased to 304.6 million from 275.3 million the previous year, 285 million of which from the engineering, concessions and multi-utility core business (with 2019 turnover of 247.6 million), 11 million from the wine sector and the remaining 11.2 million from hospitality, transport and services.
The “core business”, which last year recorded an EBITA of 27.7 million and net worth of 296 million, is very active, with the Group’s main subsidiary INC currently working with the SIS Permanent Consortium (of which it holds 51%, the remaining 49% held by the Spanish Sacyr Vallehermoso, a multinational cement company) on various sections of the Italian motorway infrastructure, the Pedemontana Veneta highway and the Palermo-Carini railway, as well as on construction of the New Mangiagalli Hospital in Milan. Overseas, in 2018 INC with others was awarded a 1.8 billion dollar contract to construct 700 km of the Buenos Aires road corridor. However, this contract encountered some difficulties and last November was unilaterally terminated by the country’s new government, with the consortium members being paid through 10-year Argentine government bonds with six-monthly payment of the instalments.
In the meantime, INC intensified its overseas operations in Albania, where last year it was awarded a contract worth 70 million to restore the Durrës-Tirana railway line and construct a new link with the capital’s airport. In the field of cybersecurity engineering, Fininc operates through its subsidiary Sipal, which in 2020 turned profit of approximately one million on revenues of 38.7 million working with clients of the calibre of Iveco, Leonardo and Thales Alenia Space, and taking over Chiarlone Officine, which last year recorded revenues of 8.8 million with an EBITDA of 1.7 million.
The second pillar of the Dogliani’s business is the wine sector through the subsidiary Batasiolo, which in 2020 saw turnover of 9.5 million but EBITDA negative to the tune of 1.8 million. The company produces typical Piedmontese wines (barbera, barolo, dolcetto, moscato and pinot) 52% of which for export and the remainder sold in Italy above all through large-scale distribution channels (Esselunga and Metro group). Business in the Group’s third sector is conducted through the subsidiaries Boscareto Resort (with the eponymous resort in Serralunga d’Alba, year-on-year revenues from which fell from 4 million to 864 thousand Euro), and Transalp Aviation, operating the executive air transport sector.
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