26.03.26

SACBO BOARD OF DIRECTORS APPROVES 2025 FINANCIAL STATEMENTS

The Board of Directors of Sacbo has approved the draft financial statements for the 2025 fiscal year, which will be submitted to the next Shareholders’ Meeting scheduled on first call for April 29, 2026, and on second call for April 30, 2026.

The Board of Directors approved both the separate financial statements of Sacbo S.p.A. and the consolidated financial statements of the Group, which include the accounts of Sacbo S.p.A. and its wholly owned subsidiary BGY International Services S.r.l.

The year 2025 stood out in particular for the importance of infrastructure and technological development programs supporting passenger services. Compliance with the planned and ENAC-approved project timeline made it possible to benefit from the expansion of check-in areas as early as May and from the opening, at the end of November, of the new departures area, effectively doubling its overall size.

Security checks were relocated and enhanced with next-generation X-ray screening equipment. The year closed with a total of 17 million passengers, exceeding budget forecasts. Specifically, 16,937,976 passengers and 24,531 tonnes of cargo (+6.8%) further strengthened the competitiveness of Bergamo Airport, both nationally—firmly in third place after Fiumicino and Malpensa—and at European level, where it ranks 41st in the ACI Europe classification.

“The SACBO Group has confirmed its ability to meet its commitments in line with the 2030 Airport Development Plan, completing essential projects on schedule to ensure high capacity and operational standards through the use of the most advanced technologies,” stated SACBO Chairman Giovanni Sanga. “Group investments exceeding €53 million in 2025, aimed at strengthening airport infrastructure, should be seen as a driver of our airport’s competitiveness in the international air transport landscape and as leverage for economic and environmental sustainability. Expansion works in the departures terminal have delivered immediate benefits to passengers and operators, ensuring efficiency and safety. We are encouraged by the overall stability of traffic levels, supported by an increasingly extensive network of connections.”

With reference to the Parent Company Sacbo S.p.A., the financial year closed with total investments of approximately €48.1 million in 2025, while the subsidiary BGY International Services S.r.l. carried out acquisitions amounting to €4.7 million.

The SACBO Group has made significant investments in airport sustainability, allocating approximately €10 million. Mitigation and compensation works were carried out, along with improvements to accessibility and intermodality, including electric vehicle charging stations in the airside area. In addition, new electric Ground Services Equipment was purchased for handling activities, and measures were implemented to improve the energy efficiency of infrastructure. The photovoltaic system has reached full operation, producing over 10% of the airport’s electricity needs (in addition to sourcing 60% of its energy from renewable supplies).

A particularly significant investment of €2.8 million was also made in digital transformation, a key element for the airport’s development. As a result of investments made in recent years, depreciation recorded in the financial statements increased from €15 million in 2020 to €26.1 million in 2025.

As of December 31, 2025, the SACBO Group employed 717 staff, an increase of 41 employees compared to December 31, 2024. This increase is mainly attributable to the expansion of operational staff within the subsidiary BGY International Services (+35 employees as of December 31, 2025) to handle the rise in passenger traffic in the final months of the year and to manage courier activities.

The Group’s total production value was just under €165 million (-0.3% compared to 2024).

The production value is broken down as follows:

• Aviation revenues: €53.0 million (-4.7%)
• Commercial revenues: €72.8 million (+3.2%)
• Passenger, cargo, and airline assistance revenues: €33.4 million (-4.1%)
• Other revenues and income: €5.3 million

Operating profit (EBIT) at year-end amounted to €20.6 million, while the Group’s net profit stood at €8.6 million.