Sugar, Caterina Caselli’s holding in red. Goodbye dividends to cover the mini-liabilities
Caterina Caselli and the son Philip (had from her late husband Piero Sugar) are left empty-handed with theirs Sugar Holdings which controls the Sugarmusicmain operative, while they launch a reorganization of their group active in music production and exploitation of rights.
Let’s go in order: a few days ago there Toll booths chaired the shareholders’ meeting of the holding (of which the son has 77.4% and the mother 22.6% in usufruct) which approved the financial statements closed last June with a small loss of almost 3 thousand euros compared to the profit of 5.4 million from the previous year.
Obviously The mini liabilities have been cleared drawing on reserves but no dividend was distributed. The red, as the management report explains, is due to the missed dividend coming from Sugarmusic. The subsidiary, moreover, closed the financial statements for the same period with a profit of only 100 thousand euros compared to that of almost 2 million in the previous year.
However i revenues year on year they rose from 7.6 to 8.3 million due to the growth in revenues from editorial synchronizations and gods Siae revenues which show an increase of 23% thanks to the full post-pandemic recovery of concert events and theater shows.
Sugarmusic works with several singers including Francesca Calearo (in art “Madame”), Gioia Pellanda (“Joy), John Damian (“Saint John”), but is also active in classical music.
Furthermore, a few days ago the partial split of the company was completed Sugarmusic with which they were transferred to Sugar Holdings various company functions (management and administration, IT, legal, copyright and royalties) and some subsidiary limited companies (Sugar, Cam, Together, Sugar Play) to allow both the parent company to become a “dynamic” holding company and the subsidiary to focus on the business.
Finally, last year Sugar Holdings took over over 13% of the Be Waterthe video and podcast production company founded in 2020 by the financier and writer Guido Maria Brera which controls, among other things, the brand Middle Chora (podcast) through the subsidiary Be Content of which it is Mario Calabresi he is a minority shareholder with 15%.
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