Pordenone, April 30, 2024 – The Shareholders’ Meeting of Finest S.p.A. today approved the 2023 financial statements of the financial institution dedicated to the internationalization of Triveneto businesses. The reported results reflect a positive outcome, with a profit of €38,000, new investment volumes of €10 million across 6 foreign operations, and 8 new investments approved during the year, totaling €18 million. As of December 31, 2023, Finest’s net investment portfolio stands at €98.04 million, supporting over 60 partner companies.

Alessandro Minon, President of Finest S.p.A., commented: “We have closed this financial year in substantial balance, securing a modest yet positive profit and figures that position the company in a zone of stability, despite external turbulence. We operated in a highly complex macroeconomic and geopolitical environment, where the global economy shows signs of slowdown, impacting trade and foreign direct investments. As noted in the latest UNCTAD report (Global Investment Trends Monitor, January 17, 2024), global foreign direct investments declined by 18% in 2023. The contraction in investments in 2023 compared to the previous two years is thus unsurprising: the post-pandemic rebound effect, which saw the resumption of projects paused during the emergency period, has waned, while the investment dynamics of Finest’s partner companies have been affected by uncertainties in key markets, notably Russia-Ukraine and the Middle East. The recovery of investments in the first half of 2024 is a positive signal for the near future.”

President Minon concluded: “The positive results of this financial year, achieved through prudent management, enable us to continue supporting our companies in accessing closer and safer markets, aligning with the ongoing trends of nearshoring and friendshoring, which involve shortening value chains. Now more than ever, the Balkans, Central-Eastern Europe, the Baltics, and Mediterranean countries represent the heart of Northeast Italy’s internationalization, and Finest remains a strategic tool for the Triveneto’s productive sector.”

In the approved financial year, the largest investments were directed toward the Balkans, particularly Serbia, which continues to be a consistently attractive and stable market. France (21%), Hungary (13%), and Poland (6%) also saw significant investments.Since its inception, Finest has reached a total of €441.7 million in investments across 665 operations as a financing partner alongside regional companies. The most internationalized sectors supported by Finest include plastics and mechanics/electromechanics (11%), construction, wood/furniture, and agri-food (10% each), metallurgy (9%), and utilities and textiles/apparel (6%). Thanks to the leverage effect of Finest’s minority investments, the total internationalization investments by partner companies have exceeded €2.3 billion.