Operating results and financial position for the year



Operating results and financial position (€ million)31/12/201831/12/17Change% Change
Revenues129.5120.59.07.5 %
Costs164.4134.230.322.6 %
EBITDA(34.9)(13.7)(21.2)155.1 %
Operating profit/(loss) (EBIT)(6.6)(61.6)54.9(89.2%)
Average number of personnel6635897412.5 %
Net debt236.4257.3(20.9)(8.1%)
Gross operating profit (EBITDA) (€ million)20182017Change% Change
Gross operating profit (EBITDA) Corporate Segment(34.9)(13.7)(21.2)155.1 %
EBITDA GROUP933.2840.093.311.1 %
Percentage weight(3.7)%(1.6)%(2.1 p.p.) 

Corporate closes 2018 with a negative EBITDA of € 34.9 million (- € 21.2 million compared to 31 December 2017) due to an administrative fine of € 16.2 million imposed by the Antitrust Authority (for more details, see the details below), for the revision of service contracts to which was added an increase in costs for Information Technology.

The average workforce at 31 December 2018 stood at 663 and was up compared to the previous year (589 employees). This increase is mainly due to the acquisition of the Facility Management division, which involved the transfer of 55 resources from Acea Elabori to Acea S.p.A.

Investments amounted to € 10.0 million and, compared to 2017 decreased by € 0.6 million. Investments mainly refer to IT developments and investments in the company offices.

Net debt at 31 December 2018 amounted to € 236.4 million, an improvement of € 20.9 million compared to the closure of 2017. This change derives from the Group and Acea needs generated by changes in working capital, including the disbursement of payables to suppliers.