The Board of Directors of Zest, a company operating in the field of digital innovation and listed on the Euronext Milan market of Borsa Italiana, announces that it has approved the Annual Financial Report as at 31 December 2025.
The figures point to an upward trend, with operating costs showing a marked improvement to €1,698,000 (€10,961,000 as at 31 December 2025 compared with €12,659,000 as at 31 December 2024); Operating EBITDA also shows a significant improvement to €3,502,000 (a reduction of €640,000 compared to the loss of €4,142,000 recorded as at 31 December 2024). Recurring operating EBITDA, meanwhile, improved by €1,688,000 compared to the previous financial year. Net financial debt fell from €6,919,000 in 2024 to €6,271,000 in 2025. Investments raised by the investee companies during the 2025 financial year amounted to €77 million.
“Whilst we are aware that geopolitical developments may have an impact on our current projects, the approved results and the outlook for 2026 confirm the Zest Group’s path towards strengthening its position,” said Marco Gay, Executive Chairman (pictured), in a statement. “It is precisely in scenarios such as this that opportunities may emerge, albeit with caution. The efficiency drive we have embarked upon enables us to improve margins and aim for EBITDA breakeven, following the significant step forward taken in the last financial year, thereby strengthening the sustainability of our model and freeing up resources for investment.” “In a rapidly evolving market, we intend to consolidate our role as an integrated venture capital and open innovation platform by expanding our ecosystem of partnerships and strengthening our international presence, in order to attract capital, talent and opportunities on a European scale.”
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