Poligrafica S Faustino S p A : May 7, 2021 - Results as st March 31, 2021 approved

COMUNICATO STAMPA

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Poligrafica S. Faustino S.p.A .:

results as of March 31, 2021 approved

• Revenues: Euro 13.00 million (Euro 13.86 million at March 31, 2020)
• EBITDA: Euro 0.91 million (Euro 1.12 million at March 31, 2020)
• EBIT: Euro 0.33 million (Euro 0.62 million at March 31, 2020)
• Net Financial Position: Euro 5.63 million (Euro 6.36 million at 31 December 2020)

Summary consolidated economic data as at March 31, 2021

(Euro thousands)	31/03/2021	31/03/2020
Revenue from sales	13,003	13,860
Gross operating result (EBITDA)	913	1,122
Net operating result (EBIT)	330	620
Result before taxes	256	566

Consolidated Net Financial Position

(Euro thousands)	31/03/2021	31/12/2020	31/03/2020
Cash and cash equivalents and short-term	15,362	13,254	617
debt
Net medium / long-term debt	(20,989)	(19,616)	(8,019)
Total Net Financial Position	(5,627)	(6,362)	(7,402)

Castrezzato, May 7, 2021

The Board of Directors of Poligrafica S. Faustino, a company listed on the STAR segment of the Italian Stock Exchange active in communication technology services, today approved the interim management report as of March 31, 2021, not subject to audit.

Consolidated results as at 31 March 2021

Sales revenues amounted to € 13.00 million, down from € 13.86 million in the first quarter of 2020 due to the difficulties associated with the prolongation of the pandemic. Sales on the foreign market amounted to Euro 2.30 million, up by 28.5% compared to March 31, 2020 (Euro 1.79 million) with an incidence on turnover equal to 17.7% (12.9% in first quarter 2020).

The gross operating margin (EBITDA), equal to Euro 0.91 million, marks a decrease of 8.1% compared to March 31, 2020 (Euro 1.12 million), mainly due to a higher incidence of consumption, cost personnel and other net operating costs, only partially offset by lower costs for services. The EBITDA margin is 7.02% (8.1% as of March 31, 2020).

The operating result (EBIT) is equal to Euro 0.33 million, compared to Euro 0.62 million at March 31, 2020, after total amortization of Euro 0.58 million (Euro 0.50 million in the first quarter of 2020).

COMUNICATO STAMPA

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The pre-taxresult is equal to Euro 0.26 million, compared to Euro 0.57 million at March 31, 2020.

The Net Financial Position is equal to Euro 5.63 million (Euro 6.36 million at 31 December 2020) and includes payables to leasing companies equal to Euro 3.06 million (of which Euro

2.03 million in the medium-long term ) and residual payables on the value in use of Euro 0.40 million (of which Euro 0.23 million in the medium-long term).

In the first quarter of 2021, the planned investments in tangible fixed assets were completed (Euro 1.62 million) with particular regard to the labels sector, in order to further boost productivity and the differentiation of the types of products offered. Modest increases in intangible assets also involved management software.

As of March 31, 2021 the Parent Company owns n. 62,903 treasury shares, registered at a cost of Euro 369,337 and are equal to 5.6% of the shares making up the entire share capital (No. 1,123,483). During the first quarter of 2021, no purchases of treasury shares were made.

Analysis by sector of activity

Euro mln	31/03/2021	31/03/2020
Productive Graphic	8,66	9,36
Commercial	4,39	4,59
Total revenues and operating	13,05	13,95
income

Foreseeable evolution of management

The trend in the first quarter of the 2021 financial year confirmed the expected difficulties deriving from the persistence of the negative effects of the Covid19 pandemic which generated a decrease in overall sales of more than 6% and a general decrease in margins with particular reference to the most important production sector. linked to the promo-advertising sector.

In light of these first indicators, not yet fully representative, we expect a general reduction in turnover for the rest of the year combined with a further, albeit modest, decline in margins. The planned investments were substantially completed in this first quarter and, given the general situation of uncertainty, we do not consider it appropriate to activate new initiatives that could further affect the net operating margin deriving from higher depreciation.

We are confident, therefore, that the negative effects of the pandemic are only temporary, even if it is not foreseeable that the land lost will be recovered by the end of the year.

The manager in charge of preparing the corporate accounting documents, Rag. Maurizia Frigoli, declares, pursuant to paragraph 2 of article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documentary results, books and accounting records.

COMPANY CONTACTS

COMUNICATO STAMPA

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Investor Relations Manager

Anna Lambiase

IR Top Consulting, specialisti di Investor Relations Tel. [phone] www.irtop.com

E-mail: [e-mail]

Ufficio Affari Societari Tel. [phone] E-mail: [e-mail]: www.psf.it

Poligrafica San Faustino (Reuters: PSF.MI), società quotata al Mercato MTA - Segmento STAR di Borsa Italiana, è oggi un Gruppo specializzato in servizi di publishing che integra competenze nel mondo della comunicazione, della stampa, del label&packaging, del web, della gestione elettronica documentale e dell'e-procurement. Il Gruppo Sanfaustino si pone come network in grado di offrire lo studio, la progettazione e la realizzazione di supporti e strategie di promotion, acquisition, loyalty, direct, incentive, corporate, nella gestione dei flussi e del trattamento dei dati, nell'e-procurement, nella web strategy e nella gestione elettronica documentale.

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

Attached:

Consolidated Income Statement as of March 31, 2021

Consolidated balance sheet as at 31 March 2021

Consolidated Net Financial Position as of March 31, 2021

Consolidated Cash Flow Statement as of March 31, 2021

COMUNICATO STAMPA

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CONSOLIDATED INCOME STATEMENT

(amounts in thousands of Euro)	1st quart.	inciden	1st	inciden
	2021	ce	quarter.	ce
		%	2020	%
Revenues from sales and services	13,003	100.00	13,860	100.00
Other income	47	0.36	90	0,65
Total revenues and operating income	13,050	100.36	13,950	100.65
Shopping	(7,650)	(58.84)	(8,545)	(61.65)
Change in inventories	(29)	(0.22)	701	5.06
Services	(2,385)	(18.34)	(3,029)	(21.85)
Staff costs	(1,373)	(10.56)	(1,280)	(9.24)
- work costs int. capitalized	-	-	-	-
Other net operating costs (income)	(700)	(5.38)	(675)	(4.87)
Total operating costs	(12,137)	(93.34)	(12,828)	(92.55)
Gross operating result (EBITDA)	913	7.02	1,122	8.10
Depreciation,	(583)	(4.48)	(502)	(3.63)
Value adjustments and plus / minus alien.
Operating result (EBIT)	330	2.54	620	4.47
Net financial income and (expense)	(74)	(0.57)	(54)	(0.39)
Result before the taxes	256	1.97	566	4.08
Pertaining to Minorities	0		0
Pertaining to the GROUP	256		566

COMUNICATO STAMPA

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BALANCE SHEET AS AT MARCH 31, 2021

(amounts in thousands of Euros)
				31/03/21	31/12/20	31/03/20
Non-current assets
Tangible assets (including rights of use)	9,806	8,708	8,783
Intangible assets			1,119	1,143	1,231
Equity investments and other non-	1,439	1,464	1,732
current assets
Total non-current assets			12,364	11,315	11,746
Current assets
Inventories			3,346	3,376	4,063
Commercial credits			15,469	16,307	17,487
Other current assets			1,863	2,027	1,906
Cash and cash equivalents		21,779	19,716	8,775
Total current assets			42,457	41,426	32,231
TOTAL ACTIVITY'			54,821	52,741	43,977
NET ASSETS
Share capital			6,162	6,162	6,162
Reserves				610	610	590
Own actions (-)			(369)	(369)	(349)
Accumulated profits (losses) (*)		3,133	2,877	2,845
Group shareholders' equity		9,536	9,280	9,248
Minorities			0	0	0
Total SHAREHOLDERS 'EQUITY		9,536	9,280	9,248
Non-current liabilities
Loans (short-term share)			20,989	19,616	8,019
Severance pay fund and other M / L	979	950	874
funds
Deferred and other non-current tax
liabilities				104	104	110
Total non-current liabilities		22,072	20,670	9,003
Current liabilities
Loans (short-term portion)			6,417	6,462	8,158
Commercial debts			14,269	14,815	15,839
Tax payables			1,243	318	506
Other current liabilities			1,284	1,196	1,223
Total current liabilities			23,213	22,791	25,726
Total	LIABILITIES	and	Total
SHAREHOLDERS 'EQUITY		54,821	52,741	43,977

(*)=including the interim result before tax, except for the final 31 December 2020 after tax