Poligrafica S Faustino S p A : April 21, 2021 - Business Plan of Group approved and remunerations of the members of BoD determined

COMUNICATO STAMPA

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Poligrafica S. Faustino S.p.A.: business plan of Group approved and remunerations of the members of BoD determined

Castrezzato, April 21, 2021

The Board of Directors of Poligrafica S. Faustino S.p.A., listed on MTA Market - STAR Segment of Italian Stock Exchange, graphics and advanced communication service company, has approved today the business plan of the Group for the years 2021-2025.

The Covid19 pandemic is believed to have negative effects on company accounts that are still significant in 2021 compared to the 2020 financial year, effects that will tend to lessen only in the second half of 2022, and then gradually return to normal in the following years.

The turnover, compared to the 2020 consolidated financial statements, is estimated to be substantially down slightly in 2021 and to recover in 2022 and, with the achievement of control of the pandemic, it is expected to recover in the following years of the order of 2%.

The incidence of materials on the value of production (58% in 2020) must register an increase of 1,5% in 2021, due to the growth in unit costs of goods already observed in the first months of 2021, with a growth trend of 0,5% in subsequent years of the plan; costs for services (22.4% in 2020), will record a slight decrease in the years 2021 and 2022, to return to the values of 2020, however in the presence of an increase in turnover, so in the years of the plan they will register a drop of 1.3% on average.

The incidence of personnel costs in 2021 records a planned increase of 1% (from 9.7% in 2020) as the group will increase the workforce by 11 units, in relation to the investments in plant and machinery planned, this amount it will remain stable in value, substantially undergoing only a physiological increase in the years from 2023 onwards.

The various operating costs remained substantially stable over the years of the plan (incidence on turnover of 4.2%). Interest expense is in line with 2020 and decreases over the years due to the repayments provided for in the mortgage repayment plans. Depreciation is still important (essentially relating to tangible fixed assets), for a total in 2021 of Euro 2.3 milion and decreasing over the years according to the depreciation plans.

As a result of the above combination, profitability is expected to decline towards a substantial balance sheet in the years 2021 and 2022, and then a gradual return to profits will occur.

The Net Financial Position (in 2020 financial debt amounted to Euro 6.2 milion) is expected to be Euro 5.5 milion in 2021 and will gradually improve in the subsequent years of the plan, due to the positive effect of mortgage repayments; it will be able to benefit from an appreciable Ebitda (estimated at 5.2% of the value of production in 2021), although it will decrease in the following years of the plan for the aforementioned reasons.

The Board of Directors determined the remunerations of its members.

Given the decisions taken by the assembly, with the approval of the Remuneration Committee and in accordance with the Policy on Remuneration, the Board of Directors decided that , in addition to fixed remuneration payable to managing directors, variable part is so calculated:

• Euro 120,000 when net profit equal to Euro 3.5 million is reached; Euro 135,000 when net profit equal to Euro 4 million is reached; Euro 150,000 when net profit equal to Euro 4.5 million is reached and Euro 220,000 when net profit equal to Euro 5 million is reached.
  The figure refers to the sum of consolidated net profit achieved in the 2019 - 2021 period.

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COMPANY CONTACTS
Investor Relations Manager	Company Affairs Department
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Poligrafica San Faustino (Reuters: PSF.MI) company quoted on the MTA Market - STAR Segment Italian Stock Exchange, is a Group which is specialized in publishing services and that integrates skills in communications, printing, packaging & labels, web, electronic document management and e-procurement.

The Group Sanfaustino works like a network able to offer the study, design and implementation of media and promotion strategies, acquisition, loyalty, direct, incentive travel, corporate, management of flows and data processing, e- Procurement, in web strategy and electronic document management.

Specialist: Integrae Sim S.p.A. - www.psf.it