| Paris, 10 February 2025 |
PREATONI Group, an international group specializing in the ownership and operation of hospitality assets as well as residential and commercial real estate development, announces the listing of its shares on the Euronext Access+ Paris segment through a technical admission. The first trading day for PREATONI Group shares (ISIN: FR001400WXE7 - Ticker: MLPRG) will be 12 February 2025.
Ernesto Preatoni, Founder and Chairman of the Supervisory Board of PREATONI Group, said :
"I am delighted and proud of this stock market listing in Paris, an attractive exchange place in Europe. Rooted in a strong entrepreneurial culture, PREATONI Group is the result of more than 30 years of history, built upon visionary and ambitious projects in hospitality and tourism and real estate development in high-potential countries. We have strong ambitions to continue expanding our Group across its two business lines , leveraging an innovative investment model that generates significant value."
Patrick Werner, Chairman of the Executive Board of PREATONI Group, added:
"I am delighted that PREATONI Group has been listed on Euronext Access+. This listing marks a key milestone in our Group's development, enabling us to strategically enhance our visibility and reputation while gaining access to new sources of financing. PREATONI Group has strong growth and profitability prospects, underpinned by an asset-upgrading strategy in the hospitality sector and the intrinsic potential for development and value creation in our real estate projects."
A strong and profitable international Group built on two pillars: Hospitality-Tourism and Real Estate Development
Founded and developed in the 1990s by Italian entrepreneur Ernesto Preatoni, PREATONI Group is an international group specializing in Hospitality-Tourism in Egypt and Italy, as well as residential and commercial real estate development across the EMEA region (Baltic States, Dubai). The Group operates an innovative investment model that creates significant value, built upon two solid pillars:
- Hospitality & Tourism division:
- In Egypt, the Group owns and operates its flagship 5-star resort, Domina Coral Bay, in Sharm El Sheikh.
- In Italy, the Group owns and operates the 4-star Domina Zagarella resort, near Palermo, Sicily, the 4-star Domina Fiera Milano business hotel in Milan and a tourist residence in Borgo, on Lake Garda.
- Real Estate Development division:
- In the Baltic States (Estonia, Latvia, and Lithuania), through ProKapital Grupp[1], a company specializing in residential district development and the construction of mid-to-high-end residential buildings.
- In Dubai, UAE, where the Group offers innovative solutions to resume and complete stalled real estate projects following the 2008 financial crisis.
For the fiscal year ending 31 December 2023, the Group reported total revenue of €76.1M and EBITDA[2] of €24.2M. In 2023, the Hospitality & Tourism and Real Estate Development divisions accounted for 69% and 31% of total revenue, respectively.
For the first half of 2024 (ending 30 June 2024), the Group reported total revenue of €29.1M and EBITDA of €2.5M[3].
Hospitality & Tourism Division: a strategy of upgrading and expanding service offerings
Ernesto Preatoni was a pioneer in the tourism development of Sharm El Sheikh. In the 1990s, he acquired land to build and develop the first tourist resort in the area: Domina Coral Bay.
Today, the resort comprises seven 5-star hotels with over 1,050 rooms (including 320 timeshare units[4]), 13 restaurants and bars, multiple swimming pools, a casino, a nightclub, dozens of shops, a diving centre, a spa, a medical clinic, and a convention centre. Additionally, more than 130 villas and houses, sold to private owners, generate additional service revenue. This resort alone accounted for nearly 40% of the Group's total revenue in 2023, with an occupancy rate of 87.1% for the year. The Total Revenue per Available Room (TrevPAR[5]) reached $85.11 per room at the end of 2023.
Building on this initial success, the Group expanded to Sicily in 2007, opening the 4-star Domina Zagarella Resort in Santa Flavia, near Palermo. The resort features 338 rooms and 43 villas (some of them in timeshare), along with a wide range of amenities, including restaurants, bars, swimming pools, a water sports & diving centre, a gym, a boutique, and a convention centre. Starting in summer 2025, the resort will feature direct sea access, followed by the launch of a Beach Club. Feasibility studies are also underway for the addition of a medical spa.
The Group's Hospitality & Tourism strategy is built on the organic development potential of its existing assets, driven by three main pillars:
- Upgrading accommodation to attract a broader international clientele, particularly from Western Europe. In Sharm El Sheikh, for example, the Group aims to modernize approximately 600 rooms, renovating 150 rooms per year, with investments fully self-financed by generated cash flows. The Group also estimates an expansion potential of 1,300 additional buildable rooms.
- Optimizing & diversifying sales channels, prioritizing direct sales and sales through its partners[6] to attract a higher-end individual clientele. The goal is to increase direct online sales from 15% in 2024 to 20-25% in the medium term, leveraging social media development.
- Expanding service offerings across resorts to maintain an integrated experience, combining high-quality accommodation with complementary services, such as restaurants, entertainment, diving, spa, casino, and the "D Club"[7] concierge subscription. This approach aims to increase TrevPAR[8] .
In addition to its broader strategy, the Group seeks to enhance customer loyalty through the "D Club" programme and generate recurring revenue by expanding timeshare offerings.
Real Estate Development Division: an innovative and value-creating model in high-potential markets
Through its subsidiary ProKapital, PREATONI Group has developed strong expertise in acquiring high-potential land and developing large-scale real estate projects. The Group can draw on 30 years' experience in managing complex projects and financial structuring, as well as solid expertise in large-scale real estate development.
- In the Baltic States, the Group specializes in building and renovating residential buildings and developing residential and commercial districts. Since the 1990s, PREATONI Group has secured a significant property reserve of nearly 500,000 sqm of gross developable area in Estonia, Latvia, and Lithuania, with 250,000 sqm still to be developed. The development of these primarily residential projects is expected to sustain activity through 2032. The Group is currently working on eight projects at various stages of development.
- In Dubai, the Group focuses on revitalizing stalled real estate projects, including those impacted by the 2008 financial crisis. In 2018, the Group successfully delivered its first mixed-use development project (residential & commercial) named "Preatoni Tower".
In January 2023, PREATONI Group was awarded a new tower development project, "Palazzo Preatoni". The project has been restructured as a mixed-use development, featuring ground-floor retail spaces and residential units on upper floors. The total commercial area covers 40,000 sqm. To execute this large-scale project, the Group partnered with an Italian financial investor, who currently holds 71% of the project. Completion is expected by late 2027.
An experienced leadership team committed to growth and environmental challenges
The governance of PREATONI Group is composed of highly experienced executives with diverse expertise and strong international representation.
- The Executive Board of PREATONI Group, chaired by Patrick Werner, consists of three members: Patrick Werner, Patrick Giffaux, and Oscar Crameri[9]. Each member brings complementary skills and extensive experience in the legal, financial, and entrepreneurial sectors.
Patrick Werner, formerly a member of the Executive Board and CEO of C3D Group (Caisse des Dépôts Développement), later served as CEO of the Victoire insurance group. He founded and chaired the Executive Board of La Banque Postale before becoming Chairman of the Executive Board of PREATONI Group in July 2022.
- The Supervisory Board of PREATONI Group, chaired by Ernesto Preatoni (founder and majority shareholder of PREATONI Group), includes four members, two of whom are independent: Ernesto Preatoni, Pierre Ducret, Chantal Burger, and Vanessa Ruffini8.
Ernesto Preatoni began his career in real estate development, specializing in the construction and sale of apartments and office buildings. In 1985, he expanded into banking, completing his first major financial transaction: the acquisition of Bi-Invest. He later orchestrated the acquisitions of Banca Popolare di Lecco (1987) and Credito Bergamasco, before shifting his real estate development focus to high-growth markets such as Egypt and the Baltic States.
Operational leadership of each division is entrusted to Eugenio Preatoni, managing the Hospitality & Tourism division and, Edoardo Preatoni, leading the Real Estate Development division.
The Group is also actively engaged in CSR initiatives, with a dedicated committee chaired by Pierre Ducret (former climate advisor for Caisse des Dépôts Group).
Stock market listing to accelerate growth & visibility
The listing of PREATONI Group's shares on the Euronext Access+ market of Euronext Paris aims to enhance the Group's visibility among investors, strengthen brand recognition and provide access to new financing sources to support the Group's long-term growth strategy and business development.
Depending on its funding needs, the company may seek capital increases from investors and the market.
PREATONI Group confirms its eligibility for inclusion in French SME equity savings plans "PEA-PME ETI". As a consequence, investment in PREATONI Group shares can be made through PEA-PME ETI savings accounts, relief specifically applicable to investments in small and mid-cap companies, benefiting from the same tax advantages as the traditional Equity Savings Plan (PEA).
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Details of the admission to trading
Registration Procedure: Technical admission
Trading Market: Euronext Access
Total number of shares comprising the share capital: 8,807,035
Share admission price: €41
Market capitalisation at listing: €361,088,435
ISIN Code: FR001400WXE7
Ticker Symbol: MLPRG
Listing date: Wednesday 12 February 2025
Financial Services Provider: Financière d'Uzès
Shareholder structure
| Shareholders | Total number of shares | % ownership and voting rights |
| PREATONI family | 8,208,654 | 93.21% |
| Other shareholders | 598,381 | 6.79% |
| TOTAL | 8,807,035 | 100% |
The transaction is being conducted as part of a listing procedure on the Euronext Access+ market, via technical admission, for the shares of PREATONI Group. This procedure does not require approval from the Financial Markets Authority (AMF), in accordance with the provisions of the Market Organization Note for Euronext Access, published on 17 August 2020. The Information Document is available free of charge at the headquarters of PREATONI Group and can be downloaded from www.preatonigroup.com. It is recalled that companies listed on Euronext Access+ are not subject to the same rules as companies on the regulated market. They are subject to a less extensive set of rules, tailored to smaller growth companies. Therefore, the investment risk in companies listed on Euronext Access+ may be higher compared to investing in companies listed on the regulated market. The Group draws the public's attention to the risk factors described in Chapter 3 of the Information Document. The occurrence of one or more of these risks could have a significant adverse effect on the Group's business, reputation, financial position, results, or outlook.
Advisors
| ALL INVEST | VGG ET ASSOCIES | ACTUS FINANCE ET COMMUNICATION |
| Advisor & Listing Sponsor | Legal advisor | Financial communication agency |
| About PREATONI Group Founded and developed by Ernesto Preatoni, PREATONI Group is an international group specializing in the ownership and operation of tourist resorts, primarily in Egypt and Italy, as well as in residential and commercial real estate development in the EMEA region (Baltic States, Dubai). Inspired by the pioneering spirit of its founder, Ernesto Preatoni, PREATONI Group is a unique publicly listed real estate company that integrates an original and highly value-creating development model. The Group employs over 1,500 people worldwide. Headquartered in France, PREATONI Group is listed on Euronext Access+ (ISIN code: FR001400WXE7). |
| WWW.PREATONIGROUP.COM |
| Investor relations ACTUS finance & communication Anne-Pauline Petureaux apetureaux@actus.fr T: (+33) 1 53 67 36 72 | Media relations ACTUS finance & communication Deborah Schwartz dschwartz@actus.fr T: (+33) 1 53 67 36 35 |
Disclaimer
This document does not constitute, nor should it be construed as, an offer to the public to subscribe for, purchase, sell or exchange, or an invitation to make an offer to subscribe for, purchase, sell or exchange, any securities. The distribution of this press release in certain countries may constitute a violation of the laws of such jurisdiction. This document may not be published, distributed, used, in whole or in part, directly or indirectly, by or in the United States, Canada, Australia or Japan.
[1] ProKapital is listed on the Nasdaq Baltic Stock Exchange in Tallinn (ISIN: EE3100006040 - PKG1T).
[2] EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) represents operating profit before depreciation, impairments, and provisions.
[3] Due to the cyclical nature in the Real Estate Development division, many projects currently under construction will be delivered from late 2024 through 2025. As a result, they are expected to contribute more significantly to both revenue and EBITDA in 2025.
[4] Corresponds to a guaranteed right to use a given property for a given period and a set number of years.
[5] TrevPAR (Total Revenue per Available Room) is a key commercial performance indicator, measuring the total revenue generated per available room over a given period. It is calculated by dividing the total revenue by the total number of available rooms.
[6] The five main online distribution channels are: Domina website, Booking.com, Expedia, HotelBeds, and Keytel.
[7] In exchange for acquiring "D Club" membership status, members receive exclusive services, including hotel transfers, personalized concierge services, and access to exclusive areas within the resorts, etc.
[8] Total Revenue per Available Room
[9] More information at https://www.preatonigroup.com/le-groupe/gouvernance
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