Operating Results   2022 2021
Revenues Euro thousands 767,516 348,981
EBITDA (1) Euro thousands 290,249 31,741
EBIT Euro thousands 199,500 (80,794)
Pre-tax resilts Euro thousands 199,572 (100,971)
Net result from assets held-for-sale Euro thousands (3,960) 2,100
Group Net Result Euro thousands 182,460 (75,119)
Financial data   2022 2021
Net capital employed Euro thousands 731,037 810,772
Group Shareholders’ equity Euro thousands 342,836 155,906
Net financial debt (2) Euro thousands 388,170 654,835

(1) EBITDA is calculated as the difference between total revenues and total operating costs, not including provisions and write-downs, restoration and replacement provisions and amortisation & depreciation.

(2) Net financial debt or Net financial position (NFP) is the sum of liquidity, financial receivables and current securities, net of financial payables (current and non-cur- rent) and the fair value of financial debt hedging derivatives.