SERVIZI ITALIA S.P.A. 2014 Financial Statement approved
Distribution of Euro 0.16 dividend per share approved
Authorized the plan for treasury shares purchase and disposal
New Board of Directors appointed
Approved the first section of the Remuneration Report pursuant to art. 123-ter of CFA Appointment of the Audit firm for the accounting control of the period 2015-
2023Castellina di Soragna (PR), Italy, 22nd April 2015
The Shareholders' Meeting of Servizi Italia, a company listed on the STAR segment of Borsa Italiana, leader in Italy in the integrated services of rental, laundry and sterilization of textile and surgical instruments for hospitals, met today at Company's registered office under the chairmanship of Mr. Luciano Facchini.
Financial Statement as at 31st December 2014The Shareholders' Meeting analyzed the consolidated financial statement and examined and approved the Financial Statement as at 31st December 2014.
Main consolidated financial results
Revenues amounted to Euro 234.3 million, with an increase of 8.8% compared to 31/12/2013 (Euro 215.4 million).
EBITDA is equal to Euro 66.8 million, with an increase of 9.2% (Euro 61.2 million at
31/12/2013); this is coming both from the increase in revenues but also from a reduction of industrial, administrative and general costs, obtained thanks to a continuous process of optimization and integration realized within the Group.
The EBITDA margin is 28.5%, in line with the result at 31/12/2013.
The consolidated operating result (EBIT) registers an increase of 22.0%, from Euro 19.0
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million at 31/12/2013 to Euro 23.2 million. This EBIT increase is connected to a better management of linen provisions and a lower consumption by the side of bodies: these elements have allowed a 1.0% reduction on turnover of the incidence of amortizations, provisions and devaluations.
EBIT margin on turnover grows from 8.8% to 9.9%.
Profit before taxes is equal to Euro 20.2 million, with an increase of 33.8% compared to
31/12/2013 (Euro 15.1 million).
Net income is equal to Euro 13.4 million, with a significant increase equal to 44.9% compared to Euro 9.3 million of the previous year.
Net Financial Position is equal to Euro 58.1 million, registering a significant improvement
(equal to Euro 11.6 million) compared to Euro 69.7 at 31/12/2013.
Main results of Servizi Italia S.p.A.
Revenues amounted to Euro 194.0 million (Euro 185.3 million at 31/12/2013). EBITDA amounted to Euro 53.6 million (Euro 50.5 million at 31/12/2013), with an EBITDA margin equal to 27.7%, that is increased compared to 2013 (27.2%). EBIT amounts to Euro 19.0 million (Euro 16.0 million at 31/12/2013). Net profit is equal to Euro 12.1 million (Euro 9.1 million at 31/12/2013).
Dividend
The Shareholders' Meeting resolved to allocate the net profit of the year, equal to Euro
12,112,668, as follows:
- Euro 605,634, equal to 5% of the profit, to the legal reserve;
- Distribution to the shareholders of an ordinary single dividend, gross of the legal withholdings, equal to 16 Euro cents for the shares in circulation, with the exclusion of the treasury shares in the portfolio, for a maximum amount of Euro 4,539,438;
- Carrying forward the residual profit for the year.
The dividend will be paid as from 29th April 2015, with coupon detachment nr. 9 on 27th April
2015 and it will be paid to the shares which will be in circulation as of that date.
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The Shareholders' Meeting revoked the treasury shares purchase and sale plan approved by the Shareholders' Meeting hold on 22nd April 2014. In the period between 23rd October 2014, date of plan activation, and 21st April 2015, Servizi Italia:
purchased a total amount of 84,952 shares, equal to 0.3% of the current share capital, for a countervalue of Euro 379,506.19;
sold a total amount of 297,000 treasury shares at an average price of Euro 4.34, for a total countervalue of Euro 1,289,400.00.
The purchase operations have been carried out on the Regulated market in compliance with the limits indicated by the Shareholders' Meeting and the applicable law and regulations, including the rules set out in EC Regulation 2273/2003 and accepted market practices.
Furthermore the Shareholders' Meeting has authorized the purchase and sale of treasury shares. The plan responds to the need of investment opportunities for the company's liquidity and the possibility to use them for strategic operations within the limits permitted by market practices.
The authorization is for a maximum number of ordinary shares of Servizi Italia S.p.A. equal to
20% of the relevant share capital, taking into consideration shares already held, for a period of
18 months from the date of Shareholders' Meeting resolution.
As of today, the company owns 225,326 treasury shares, equal to 0.7942% of the share capital.
Operations of purchase of treasury shares will be made on market at a price not higher and not lower than 20% over the weighted average of the official prices in the 3 days prior to the transaction.
Remuneration Report pursuant to ex art. 123-ter Legislative Decree 58/98
The Shareholders' meeting approved the first section of the Remuneration Report of Directors and Managers with strategic responsibilities ex art. 123-ter Legislative Decree 58/98.
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The Shareholders' Meeting, called to renew the Board of Directors for the 3-year period 2015-
2017, determined the number of members on the Board as 11.
The new Board of Directors, which meets the requirements for women presence, is composed as follows: Roberto Olivi, Enea Righi, Ilaria Eugeniani, Emil Anceschi, Antonio Paglialonga, Lino Zanichelli, Vasco Salsi, Marco Marchetti, Paola Gina Maria Schwizer, Romina Guglielmetti and Paola Elisabetta Maria Galbiati.
All the members of the Board of Directors were taken from the list presented by the majority shareholder Aurum S.p.A., holding the 56.62% of the share capital; the board member Marco Marchetti has been elected from the minority list presented by Padana Emmedue S.p.A. which has a shareholding of 5,86% in the share capital.
The Directors Paola Gina Maria Schwizer, Romina Guglielmetti and Paola Elisabetta Maria Galbiati declared themselves as independent directors pursuant to Legislative Decree No. 58 of February 24, 1998 and the Self-Governance Code, and as per the Regulatory Instructions of the Markets organised and managed by Borsa Italiana with reference to companies on the STAR segment.
In accordance with Article IA.2.6.7, paragraph 3, of the Stock Exchange Regulatory Instructions, at the present moment only the Director Marco Marchetti holds 1,700 Servizi Italia shares.
The Shareholders' Meeting also approved the total remuneration of the Board of Directors.
The profiles of the newly appointed directors are available on the internet site of the Company www.si-servizitalia.com, in the "Investor Relations/Corporate Governance" section.
Pursuant to the Code of Conduct, some more detailed information concerning ceased charges of Executive Directors are available in the press release disclosed last 1st April.
The Shareholders' meeting approved the appointment of the Audit firm Deloitte & Touche
S.p.A. for the accounting control of the period 2015-2023.
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Minutes of the meeting and summary statement of voting will be made available to the public in accordance to law.
Declaration of the Executive Responsible for the preparation of the accounting documentsThe Executive Responsible for the preparation of the corporate accounting documents, Ilaria Eugeniani, declares in accordance with Article 154 bis, paragraph 2, of the Consolidated Finance Act, that the accounting information contained in the present press release corresponds to the underlying accounting documents, records and accounting entries.
Alternative performance indicatorsThe present document uses an "alternative performance indicator" not provided for under IFRS accounting standards,
outlined in accordance with CESR recommendation 05-178b published on November 3rd, 2005:
The EBITDA was defined by company management as the difference between the value of sales and services and operating costs before amortization, depreciation and write-downs.
From today this press release is available on website www.si-servizitalia.comand disclosed by SDIR/NIS and 1Info
Storage (www.1info.it) systems.
Servizi Italia S.p.A., a company based in Castellina in Soragna (PR), listed on the STAR segment of the Italian Stock Exchange, is the leading operator in Italy in the field of integrated services for hire, washing and sterilization of textile materials and surgical instruments for hospitals. With a technologically advanced production platform, articulated in laundry facilities, textile sterilization centers , surgical instruments sterilization centers and many wardrobes, the Company, which together with its Italian and foreign subsidiaries constitute the Servizi Italia Group, turns primarily to companies in public and private healthcare sector of center / northern Italy and the State of S. Paulo, Brazil, with a wide and diversified offer. For further information:Investor Relations | Media & Investor Relations |
Servizi Italia | IR Top |
Giovanni Manti, Chiara Peterlini | Maria Antonietta Pireddu, Domenico Gentile |
Tel: +39 0524598511 | Tel. +39 02 45473884/3 |
investor@si-servizitalia.com | ir.servizitalia@irtop.com |
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