Price sensitive
A "TRANSITION SEMESTER" FOR THE FULL IMPLEMENTATION OF THE EXTRAORDINARY TRANSACTION. THE COMPANY, SUPPORTED BY THE TRANSACTION SUCCESSFUL COMPLETION, MAY NOW FOCUS ON BUSINESS DEVELOPMENT
The semester under review must be considered as a transition period, as the Company has been primarily and strongly engaged in the long and complex process for the completion of the financial rebalancing and equity strengthening extraordinary transaction. As the latter has been successfully completed, in the next months the company management may entirely focus on Prelios industrial re-launch, by starting new growth and business development projects, in line with the Group’s strategy to re-position itself as reference player in asset management and real estate and financial services to third party investors.
- MANAGEMENT PLATFORM REVENUES: 48.2 €/MLN (61.4 €/MLN AT 30 JUNE 2012)
- EBIT: -4.9 €/MLN (-3 €/MLN AT JUNE 2012)
- MANAGEMENT PLATFORM EBIT2: -2.5 (6.2 €/MLN AT JUNE 2012, SINCE IT FACTORED IN A NON-RECURRENT INCOME OF 3.7 €/MLN)
- EBIT FROM INVESTMENT ACTIVITIES : – 2.4 €/MLN (-9.2 €/MLN AT JUNE 2012)
- NET RESULT NEGATIVE FOR 64 €/MLN VS. -125.7 €/MLN AT JUNE 2012; THIS RESULT IS IMPACTED BY IMPAIRMENT LOSSES AND WRITEDOWNS FOR ABOUT 28.5 €/MLN AND FINANCIAL CHARGES FOR 21.4 €/MLN, NOT YET REFLECTING THE EFFECTS OF THE EXTRAORDINARY TRANSACTION
- NET FINANCIAL POSITION NEGATIVE FOR 562.3 €/MLN (-557.2 €/MLN AT 31 MAY 2013, -520.5 AT DECEMBER 2012), RE-DETERMINED IN -336.5 €/MLN FOLLOWING TO THE EXTRAORDINARY TRANSACTION
- THE PERFORMANCE IN THE PERIOD IS ALSO IMPACTED BY THE PROLONGED NEGATIVE ECONOMIC SITUATION
- FULLY SUBSCRIBED CAPITAL INCREASE FOR 185 €/MLN IN TOTAL, A PART OF WHICH WITH OPTION RIGHTS (ABOUT 115 €/MLN ORDINARY SHARES) AND A PART RESERVED TO FENICE (ABOUT 70 €/MLN CLASS B SHARES)
- THE IMPLEMENTATION OF THE EXTRAORDINARY TRANSACTION ENSURES A CAPITAL INCREASE IN CASH EQUAL TO NEARLY 115 €/MLN
- FINALIZED ALSO THE DEBT RESCHEDULING THROUGH THE 250 €/MLN LOAN AND ISSUE OF THE DEBENTURE LOAN FOR 233.5 €/MLN/li>
The semester under review must be considered as a transition period, as the Company has been primarily and strongly engaged in the long and complex process for the completion of the financial rebalancing and equity strengthening extraordinary transaction. As the latter has been successfully completed, in the next months the company management may entirely focus on Prelios industrial re-launch, by starting new growth and business development projects, in line with the Group’s strategy to re-position itself as reference player in asset management and real estate and financial services to third party investors.