The Sky group in Italy closed the financial statements as of 31 December 2023 with a red of 542 million eurosa sharp decline compared to the 735 million of the 2022 financial year. This is what emerges from the consolidated financial statements of Sky Italian Holdings – whose numbers were reported by ItaliaOggi -, the holding company that brings together the Sky companies operating in Italy. Revenues grew to 2.195 billion euros (+68 million in 2022), with EBITDA improving to -109 million (-335 million in 2022).
Sky balance sheet 2023 – The accounts and subscribers between NOW and Sky
Looking only at the activity of Sky Italia, revenues reached 2.17 billion euros, i.e. 65 million euros more than in 2022. A development that mainly passes through other and new business areas. There is the boom of advertising collectionespecially thanks to TV8, and advertising revenues for the 2023 financial year reach 236.8 million euros, +8.5% compared to 2022.
There are connectivity and voice services (Sky Wi-Fi) which account for 145 million euros (+58.1% on 2022), and also the “sale of goods” item reaches 44.6 million euros, + 51.1% mainly driven by sales of televisions Sky Glass which almost completely absorb the amount. Subscribers were also stable, a share 4.2 millionwith an increase in those choosing to subscribe to NOW and a decline in Sky subscribers.
Sky 2023 balance sheet – No interventions by the parent company
There is still some way to go to get the accounts back into balance. The last line of the budget, in fact, still shows a loss of 2023 552 million euros. Better than 2022, when red had been 739 million eurosbut still a negative result that the president and CEO of Sky Italia, Andrea Duilio, estimates will be further mitigated in 2024, without the need for new interventions by the parent company to capitalize the company.
Last November, in fact, in light of the results of the 2023 financial year, Sky UK paid 800 million euros to the parent company Sky Italian Holdings, which used them to recapitalize Sky Italia, which therefore closed 2023 with a positive net worth Of 1.27 billion euros. «As expected in the budget estimates, the first months of the 2024 financial year also recorded a negative trend in terms of economic and financial performance», explain the administrators of Sky Italia, «however, it did not lead to a situation of capital deficit at the date of preparation of these financial statements».
