The Board of Directors of Exprivia – a company listed on the STAR segment of Borsa Italiana [XPR.MI] – approved today the financial statements at 31 December 2018, prepared in accordance with International Accounting Standards (IAS / IFRS).
2018 was the first year with Italtel into the consolidation perimeter of the group, following the acquisition of 81% of the capital by Exprivia finalized at the end of December 2017. 2018 registers revenues at 623.2 mln compared with 614.1 mln of the 2017 pro-forma, EBITDA at 41.8 mln euro (equal to 6.7% of revenues) compared to 26.0 million in the 2017 pro-forma, EBIT at 21.0 mln euro (3.4% of revenues) compared to 8.7 million in the 2017 pro-forma, net result at -0,9 mln euro compared to -10 million in the 2017 pro-forma and Net Financial Position improving to -214.6 million euro compared to -222.8 million in 2017.
The net result, negative for just under a million, considers the effects of the economic instability of the Latin American countries and the recognition of losses on exchange rates of around 5 million euros.
The group has recorded a significant growth in the Industry sector which overall records a + 10% on 2017. In line with expectations, + 2%, the performance in the Healthcare sector, which registers an increase in private spending as a growth factor and the Public Sector for the rationalization of the public spending. In the Finance and Insurance sector the performance was recorded in line with that of last year, as envisaged by sector analysts, as well as in that of Telco & Media sector. Results in International Markets were stable compared to last year, characterized by the political-economic situation, not yet recovering, in some of the Latin American countries.
Net of the subsidiary Italtel, Exprivia closed 2018 with revenues of 161.5 million euro, stable compared to 161.2 million in 2017, with EBITDA at 15.9 million (+31.4% compared to 12.1 million of 2017), EBIT at 11.8 million (+80.8% compared to 6.5 million in 2017), net result at 4.8 million compared to 50 thousand euro in 2017. The net financial position improved by 21.6%, to -45.8 million compared to -58.4 of 31 December 2017.
Italtel closed 2018 with revenues of 466.0 million euro, up +1% compared to 458.3 million in 2017; EBITDA at 26.1 million, almost doubled compared to 14.8 in 2017; EBIT at 10.4 million, more than quadrupled compared to 2.2 million in 2017; negative net result of 4.8 million, mainly influenced by exchange rate losses, and an improvement compared to -10.5 million in 2017. The net financial position slightly worsened -168.9 million compared to -164.5 mln of 31 December 2017.
In continuity with the “2018-2020 Performance Share Plan”, prepared by the Board of Directors on 28 March 2018, and approved by the Shareholders’ Meeting, on 27 April 2018, the Board today approved the new “Performance Share Plan” 2019-2021” which regulates the free allocation of ordinary shares of Exprivia reserved for directors, managers with strategic responsibilities, first line managers, country managers and persons who hold key roles in the Company and in subsidiaries of the Group based on the results that will be achieved in the three-year period 2019-2021.
For all the details, please refer to the Information Document which will be made available to shareholders and the public pursuant to art. 84-bis, third paragraph, of Consob Regulation n. 11971/1999.
“The positive results achieved by the group in 2018 – affirms Domenico Favuzzi, president and CEO of Exprivia – confirm the validity of the guidelines of the strategic plan based on the integration of skills between Exprivia and Italtel. Both have shown they can develop synergies in line with global technological trends, from the numerous variations of industrial robotics, to artificial intelligence now applied to all fields of private and public life, as experienced at the recent Mobile World Congress 2019 in Barcelona, where the group presented a wide range of solutions for the various business areas attended, built by combining skills and projects. Today we present ourselves on the national and international landscape with a force rich in 4000 qualified resources and a presence in 20 countries with an innovative offer to extract more and more value from the data collected and transmitted by the new smart grids”.
The Board of Directors today has also reviewed and approved the Relazione degli Amministratori sul Governo Societario and the Relazione sulla Remunerazione in accordance with the Codice di Autodisciplina delle Società Quotate promoted by Borsa Italiana, the Dichiarazione Consolidata di Carattere Non Finanziario, pursuant to Legislative Decree 254/16, and approved the proposal to request the Shareholders’ Meeting to grant a new authorization to purchase and dispose of treasury shares in accordance with Articles 2357 and 2357-ter of the Codice Civile Italiano.
The Companỳ communicates that, today, the Board of Directors, with the favorable opinion of the Statutory Auditors, proceeded to appoint by cooptation Mr. Stefano Pileri as new director, replacing Mr. Filippo Giannelli, resigned from the office today for personal reasons, subject to positive verification of the requirements prescribed by the applicable laws and regulations and that will remain in office until the next shareholders’ meeting of the Company.
The curriculum of the new Director is available on the Company’s website in the Corporate Governance section.
Pursuant to Article 154- bis of Testo Unico della Finanza, the executive manager responsible for preparing the corporate accounts, Mr. Valerio Stea, states that the financial report in this press release contains and matches the documentary records, books and accounting records.
Exprivia will participate to the Star Conference, organized in Milan by Borsa Italiana, on March 20, 2019 and will meet investors in a plenary presentation in which the results and business performance of 2018 will be analyzed.