Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Kaleon S.p.A. is a prominent company specializing in the management and preservation of cultural and natural heritage sites, with a particular focus on the Borromean Lands in the Lake Maggiore region of Italy. Established in 1983, it operates in the leisure facilities industry within the consumer services sector. Kaleon oversees a diverse portfolio including historic islands such as Isola Bella, Isola Madre, and Isola dei Pescatori, along with museums, nature parks like Rocca di Angera fortress and Pallavicino Park, and hospitality services including the Grand Hotel des Iles Borromées & SPA. The company integrates cultural heritage management with tourism and leisure offerings, enhancing visitor experience through service networks comprising cafes, restaurants, shops, and more. With a market capitalization around €57 million and a workforce of approximately 74 employees, Kaleon plays a significant role in promoting and sustaining Italy’s cultural tourism landscape, balancing conservation with commercial operation. Its strategic approach involves long-term leases to manage and preserve landmarks, positioning itself as a custodian of important historical assets and a facilitator of luxury tourism.
12.95% operating margin is respectable but not wide. ROIC at 7.95%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 9.3%, steady but not accelerating. Margins contracted 3.1pp, which offsets some of the top-line progress.
Free cash flow declined 321% versus the prior year, cash generation momentum has weakened. ROIC dropped from 10.43% to 7.95%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
€24M
▲ +9.3% YoY
Net Income (TTM)
€2M
▲ +1.2% YoY
Op. Margin
12.95%
▼ -3.1pp YoY
ROIC
7.95%
▼ -2.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€3M
▼ -320.7% YoY
Op. Cash Flow (TTM)
€3M
▲ +5.4% YoY
Net Debt
-€3M
Net Cash Position
Cash & Equiv.
€8M
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