Earthquake at the top of Adventure. The resignation of three directors causes the entire board of the Turin-based digital company to fall and opens a delicate yet strategic phase for the company listed on Euronext Growth Milan. A transition that comes as the group accelerates growth and puts forward an ambitious industrial plan, with rapidly expanding numbers.
According to the company’s statement, Franco Grande, Maurizio Cerrano, and Gabriele Bisceglie, the latter as an independent director, have left the board. The resignations were motivated by personal and professional reasons and, it is specified, are not “attributable to disagreements with the corporate bodies.” A standard phrase that tends to smooth over any internal tensions but inevitably raises questions about the timing of the decision, which came during a period of strong industrial transformation and close to significant corporate events, including the approval of the accounts.
TOWARDS THE APRIL 30TH SHAREHOLDERS’ MEETING
The loss of the majority of members automatically caused the entire board to fall. Hence the need to convene a meeting to renew the administrative body, while the current board remains in office only for ordinary administration, in a prorogatio regime. According to sources qualified to Startmag, the meeting should be convened for April 30, a date that will mark the real turning point for the group’s governance.
WHO IS RUNNING AGAIN AND POSSIBLE NEW ENTRIES
Meanwhile, future balances are beginning to take shape. CEO Silvana Cozza and Chairman Massimo Gotta (in the photo) have already expressed their willingness to run again, a sign of continuity in corporate leadership. Added to these is the candidacy of Chief Financial Officer Giuseppe Marra, a figure with experience in complex and international industrial contexts, bringing expertise in consolidated financial statements, financial planning, and extraordinary operations. A profile that suggests the next board could be called upon to manage a more structured and perhaps more financialized phase of growth.
WHAT ADVENTURE DOES
Adventure is a Turin-based company founded in 2017 operating in the world of online comparison sites, an increasingly crowded but also strategic sector in the jungle of offers among energy, telecommunications, insurance, and financial services. The core of the business is the portal ameconviene.it, through which the company intercepts users looking for savings and transforms them into high-value commercial contacts.
Behind the simple consumer interface is a typical digital platform model based on data, targeted marketing, and increasing use of artificial intelligence. A scalable approach that has supported growth in recent years.
2024 ACCOUNTS AND 2025 ESTIMATES
The numbers tell the story of a company in expansion. In 2024, revenue stood at about 11.2 million euros, up from 8 million in 2023, while net profit was 63 thousand euros. Numbers still modest on the profitability front but consistent with a phase of investment and development.
Even more significant are the estimates for 2025, examined by the board in the pre-close data: production value is expected between 17 and 18.5 million euros, with growth between 56% and 69% compared to the previous year. EBITDA should range between 2.4 and 2.7 million, with margins between 13% and 15%, while the net financial position is estimated between 8 and 8.4 million. However, these are forecast data, not yet approved and inevitably linked to shareholder developments and the new governance structure.
THE 2026-2028 INDUSTRIAL PLAN
It is precisely against this backdrop that the 2026-2028 industrial plan fits, aiming for a significant dimensional leap. The goal is to bring production value between 60 and 75 million by 2028, with EBITDA between 12 and 16 million and margins up to 22%. Growth should be supported both internally, through synergies between business units and integration of acquired companies, and externally, with M&A operations.
A plan that, read together with the resignations, suggests that Adventure is in a transition phase: from digital scale-up to structured group, with broader ambitions and inevitable adjustments also on the governance front. In this sense, the entry of figures with strong financial expertise could be functional to supporting a more complex growth path.
THE COMPANY’S SILENCE AND THE UNCERTAINTIES
The company, for its part, emphasized that the resignations do not affect operations nor the ability to execute the industrial plan. A message addressed to the market.
It now remains to be seen what the scope of the new board will be and whether new balances between shareholders and management will emerge.
On this point, however, Adventure maintains the utmost discretion. When contacted, the company declined to provide further comments beyond what was already stated in the press release, limiting itself to reiterating the official reasons related to the resignations of the three directors. A silence that leaves room for various interpretations but will likely be resolved only after the late April meeting.
