2025 was certainly a complex year for the world, marked by a series of not insignificant and highly volatile external macroeconomic factors.
In this context, the Immsi Group reported substantially stable margins. The Group EBITDA margin for the year was the highest reported to date, reflecting the work undertaken to improve productivity.
The naval sector reported strong growth in revenues, which almost doubled, and in EBIT, with an 8.3% EBIT margin, arising largely in the defence division.
Given a healthy order backlog worth approximately 1.2 billion euro – the result of successful work carried out in the past – the sector expects further revenue increases and stable profit margins. Furthermore, in the defence area, the probable need for the world’s leading navies to build up their minehunter resources and the possible consolidation of the European seabed surveillance and warfare industry offers interesting opportunities to strengthen and maximise the value of the related strategic assets.
In the industrial sector, the Piaggio Group managed to maintain positive margins and improve its percentage gross margin with respect to the previous year. Profits were also compressed by depreciation and amortisation arising as a result of the Green deal, and by the impact of international tariffs and exchange-rate volatility. The hoped-for easing of global geopolitical relations could lead to a return to economic stability and with it greater consumer propensity to spend, which would have a positive impact on Piaggio Group sales volumes and consequently on the revenues of both the subsidiary and the Immsi Group.
In the hotel sector, investments are underway to strengthen commercial operations.