PRESS RELEASE
THE BOARD OF DIRECTORS OF EXPRIVIA APPROVES THE
DISCLOSURE OF MANAGEMENT DATA FOR THE
THIRD QUARTER OF 2020
November 13, 2020.The Board of Directors of Exprivia S.p.A.- a company listed on the MTA market of Borsa Italiana [XPR.MI] -, met today, examined the information on the management data as at 30 September 2020 of the Issuer and its group. The Board has not been able to examine and approve the third quarter interim report at 30 September 2020 for the well-known events affecting the subsidiary Italtel S.p.A. (see press release released to the market on May 18, 2020), given, moreover, that Italtel obtained a further extension by the Tribunale di Milano for the filing of the proposal for a final composition with creditors, at 5ThFebruary 2021, pursuant to article 9, paragraph 4 of D.L. 23/2020.
In this situation and in order to inform the market about the performance of the Exprivia Group, the Board of Directors of Exprivia has decided to authorize the release to the market of management data relating to the third quarter of 2020.
The IT operating sector, namely Exprivia Group net of the subsidiary Italtel, closed at 30 September 2020 with revenues slightly growing of 119.8 million, compared to 118.8 million the same period of 2019 with an increase of about 1 million equal to 0.8%. Considering margins, the 30 September 2020 ended with an Ebitda of 14.3 million compared to 11.3 million the same period of 2019 with an increase of about 3 million equal to 26.4%. The pre-tax profit almost doubled standing at Euro 7.0 million, compared to 3.8 million in the same period of 2019 without considering the write-down of the investment in Italtel, already accounted for in the previous year, with an increase of about 3.2 million equal to 84.8%. The net financial position at 30 September 2020 it is equal to -49.6 compared to -43.9 at 31 December 2019.
Below is a table summarizing the above mentioned data:
Exprivia Group excluding Italtel | Variations q3 | Variations % | Variations | Variations % | ||||
Q3 2020 | Q3 2019 | 30.09.2020 30.09.2019 | 2020 vs q2 | q3 2020 vs q2 | 30.09.2020 vs | 30.09.2020 vs | ||
Group (value in thousand euros) | ||||||||
2019 | 2019 | 30.09.2019 | 30.09.2019 | |||||
Revenues | 38,561 | 39,323 | 119,772 | 118,798 | (762) | -1.9% | 973 | 0.8% |
EBITDA | 6,483 | 5,100 | 14,268 | 11,285 | 1,384 | 27.1% | 2,983 | 26.4% |
EBIT | 4,911 | (21,467) | 9,574 | (18,471) | 26,378 | -122.9% | 28,046 | -151.8% |
Exprivia Group excluding Italtel Group | 30.09.2020 | 31.12.2019 | Variations | Variations % |
(value in thousand euros) | ||||
Net financial position | (49,649) | (43,892) | (5,758) | -13.1% |
In order to provide as much information as possible to the market, profit and loss statements and the balance sheet of the IT Operating Sector as well as the detailed schedule of the net financial position are also attached.
Below are the debt positions of the IT Operations Sector with evidence of overdue items;
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PRESS RELEASE
amount in thousand euros | Exprivia Group excluding Italtel Group | |
30.09.2020 | ||
Debt positions | Total debts | of which expired |
Financial | 60,996 | - |
Commercial | 26,669 | 12,360 |
Social Security | 6,259 | - |
Tributary | 4,912 | - |
Payables to employees | 18,013 | - |
All payables due as at 30 September 2020 were included in the past due items.
Finally, the items of receivables and payables outstanding with the Italtel Group are shown below:
amount in thousand Euro | |
Receivables from Italtel Group | 30.09.2020 |
Exprivia SpA | 2,389 |
Other Group companies | 190 |
Total | 2,579 |
amount in thousand Euro | |
Payables to Italtel Group | 30.09.2020 |
Exprivia SpA | 7,139 |
Commercial debts | 2,308 |
Other current payables | 4,744 |
Current financial payables IFRS 16 | 87 |
Other Group companies | 364 |
Commercial debts | 0 |
Current financial payables IFRS 16 | 110 |
Non-current financial payables IFRS 16 | 254 |
Total | 7,503 |
Other current payables include payables related to the items found in the Group VAT and the tax consolidation. These items are paid to the parent company on the basis of the relevant regulations approved by the respective Boards of Directors.
The main data relating to the issuer's performance at 30 September 2020 are shown below:
Variations | Variations % | Variations | Variations % | |||||
Exprivia SpA | 30.09.2020 | 30.09.2020 | ||||||
Q3 2020 | Q3 2019 | 30.09.2020 30.09.2019 | Q3 2020 vs | Q3 2020 vs | ||||
(value in thousand Euro) | vs | vs | ||||||
Q3 2019 | Q3 2019 | |||||||
30.09.2019 | 30.09.2019 | |||||||
Revenues | 34,690 | 34,707 | 107,405 | 104,042 | (17) | -0.05% | 3,363 | 3.2% |
EBITDA | 6,285 | 4,921 | 14,336 | 11,142 | 1,364 | 27.7% | 3,194 | 28.7% |
EBIT | 4,825 | (21,536) | 9,950 | (18,302) | 26,361 | -122.4% | 28,252 | -154.4% |
Exprivia SpA | 30.09.2020 | 31.12.2019 | Variations | Variationsi % |
(value in thousand Euro) | ||||
Net financial position | (49,548) | (45,665) | (3,883) | -8.5% |
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PRESS RELEASE
As can be seen, the results in terms of revenues show an increase of 3.2%, the EBITDA is equal to 14.3 million Euro compared to 11.1 million Euro the same period of 2019. The net financial position is equal to -49.5 million Euro compared to -45.7 million Euro at 31 December 2019.
The debt positions of Exprivia S.p.A. are shown below, highlighting that all payables due as at 30 September 2020 are recorded as past due.
amount in thousand Euro | Exprivia SpA | |
30.09.2020 | ||
Debt positions | Total debts | of which expired |
Financial | 62,369 | |
Commercial | 26,829 | 11,262 |
Social Security | 5,535 | |
Tributary | 4,454 | |
Payables to employees | 15,638 |
With regard to receivables and payables to Italtel S.p.A. and other Italtel Group companies, please refer to the table above.
The Italtel Group's figures at 30 September 2020 are shown below. These figures have been calculated on a going concern basis, while highlighting the significant uncertainties arising from the situation pursuant to Article 2447 of the Italian Codice Civile in which Italtel S.p.A. finds itself and the application for a white composition with creditors filed by the same pursuant to Art. 161 of the bankruptcy law. The TLC operating segment of the Italtel subsidiary closed at 30 September 2020 with revenues of Euro 174.9 million compared to Euro 255.2 million the same period of 2019. Ebitda is equal to Euro -4.8 million compared to Euro 7.7 million the same period of 2019. The net financial position is equal to -173.5 million Euro compared to -182.5 million at 31 December 2019.
Below is a table summarizing the above mentioned data:
Italtel Group | Variations Q3 | Variations % | Variations | Variations % | ||||
Q3 2020 | Q3 2019 | 30.09.2020 30.09.2019 | 2020 vs Q3 | Q3 2020 vs | 30.09.2020 vs | 30.09.2020 vs | ||
(value in thousand Euro) | ||||||||
2019 | Q3 2019 | 30.09.2019 | 30.09.2019 | |||||
Revenues | 66,993 | 80,631 | 174,906 | 255,222 | (13,638) | -16.9% | (80,316) | -46.0% |
EBITDA | 3,388 | 3,209 | (4,769) | 7,671 | 179 | 5.6% | (12,440) | -278.8% |
Italtel Group | 30.09.2020 | 31.12.2019 | Variations | Variations % |
(value in thousand Euro) | ||||
Net financial position | (173,543) | (182,476) | 8,933 | 4.9% |
Here follows the debt positions of the Italtel Group with evidence of the past due amounts:
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PRESS RELEASE
amount in thousand Euro | Italtel Group | |
30.09.2020 | ||
Debt positions | Total debts | of which expired |
Financial | 193,093 | 9,745 |
Commercial | 163,720 | 107,775 |
Social Security | 3,167 | 1,266 |
Tributary | 3,043 | 1,077 |
Payables to employees | 17,502 | 2,791 |
Finally, data relating to Italtel S.p.A. are reported. The following figures have been calculated on a going concern basis, while underlining the significant uncertainties arising from the situation pursuant to Article 2447 of the Italian Codice Civile and the application for a white composition with creditors pursuant to the bankruptcy law.
Italtel SpA | Variations Q3 | Variations % | Variations | Variations % | ||||
Q3 2020 | Q3 2019 | 30.09.2020 | 30.09.2019 | 2020 vs Q3 | Q3 2020 vs 30.09.2020 vs 30.09.2020 vs | |||
(value in thousand Euro) | ||||||||
2019 | Q3 2019 | 30.09.2019 | 30.09.2019 | |||||
Revenues | 48,530 | 46,548 | 118,372 | 163,324 | 1,982 | 4.3% | (44,952) | -27.5% |
EBITDA | 3,899 | 327 | (3,556) | 4,232 | 3,572 | 1092.4% | (7,788) | -184.0% |
Italtel SpA (value in thousand Euro) | 30.09.2020 | 31.12.2019 | Variations | Variations % |
Net financial position | (187,248) | (188,903) | 1,655 | 0.9% |
As already seen for the TLC Operating Sector, revenues and margins are down sharply.
With regard to Italtel S.p.A.'s debt positions, the table below provides details of these and the related positions past due at September 30, 2020:
amount in thousand Euro | Italtel SpA | |
30.09.2020 | ||
Debt positions | Total debts | of which expired |
Financial | 197,320 | 9,745 |
Commercial | 143,974 | 102,205 |
Social Security | 2,380 | 1,266 |
Tributary | 1,799 | 1,077 |
Payables to employees | 15,633 | 2,791 |
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PRESS RELEASE
Exprivia SpA
Financial Statements as at 30 September 2020 Balance Sheet
Income Statement
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Net Financial Position at 30 September 2020 and at 31 December 2019
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PRESS RELEASE
Exprivia Group excluding Italtel Group
Financial Statements as at 30 September 2020 Balance Sheet
Income Statement
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PRESS RELEASE
Net Financial Position at 30 September 2020 and at 31 December 2019
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PRESS RELEASE
Italtel Group
Net Financial Position at 30 September 2020 and at 31 December 2019
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PRESS RELEASE
Italtel SpA
Net Financial Position at 30 September 2020 and at 31 December 2019
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PRESS RELEASE
DECLARATION OF THE MANAGER RESPONSIBLE FOR PREPARING THE COMPANY'S FINANCIAL REPORTS, PURSUANT TO ART. 154-BIS, PARAGRAPH 2, TUF
The Manager responsible for preparing the Company's financial reports Valerio Stea declares, pursuant to Article 154-bis, paragraph 2, of Legislative Decree no. 58/1998 (Testo Unico della Finanza), that the accounting information contained in this press release corresponds to the documented results, books and accounting records.
Exprivia
Exprivia is the parent company of an international group specialized in Information and Communication Technology able to direct drivers of change in the business of its customers thanks to digital technologies.
With a consolidated know-how and a long experience due to the constant presence on the market, the group has a team of experts specializing in various fields of technology and in the main areas within this sector, from the Capital Market, Credit & Risk Management to IT Governance, from BPO to IT Security, from Big Data to Cloud, from IoT to Mobile, from networking to enterprise collaboration to SAP. The group supports its clients in the Banking & Finance, Telco & Media, Energy & Utilities, Aerospace & Defense, Manufacturing & Distribution, Healthcare and Public-Sector sectors. The group offering is made up of solutions that are composed of third-party products, engineering services and consultancy.
Following the acquisition of 81% of Italtel's share capital, an historic Italian company that today operates in the ICT market with a strong focus on the Telco & Media, Enterprises and Public-Sector markets, today the group has about 3,600 professionals distributed in over 20 countries worldwide.
Exprivia S.p.A. is listed on Borsa Italiana Stock Exchange to the MTA market (XPR).
Exprivia is subject to the direction and coordination of Abaco Innovazione S.p.A.
www.exprivia.it/en
Contacts
Exprivia SpA
Press office | |
Investor Relations | |
Gianni Sebastiano | Sec Mediterranea |
gianni.sebastiano@exprivia.it | T. +39 080/5289670 |
T. + 39 0803382070 - F. +39 0803382077 | Teresa Marmo |
marmo@secrp.com- Cell. +39 335/6718211 | |
Gianluigi Conese | |
conese@secrp.com- Cell. +39 335/7846403 | |
Sec and Partners | |
T. +39 06/3222712 | |
Martina Trecca | |
trecca@secrp.com- Cell. +39 333/9611304 | |
Andrea Lijoi | |
lijoi@secrp.com- Cell. +39 329/2605000 |
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Disclaimer
Exprivia S.p.A. published this content on 13 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 November 2020 21:18:06 UTC