(Alliance News) - SG Company Spa announced Wednesday that the board of directors discussed the company's business performance and possible upcoming M&A transactions.

In light of the acquisitions carried out in the last period, the resulting organic growth of the SG Company group, and considering the final contracted data to date, "the board of directors is confident about the full realization and possible surpassing of the targets indicated in the 2021-2023 business plan," the company explained.

"This realization is configured in quantitative but above all qualitative terms, also thanks to the contribution generated by the equity investments acquired in the companies Kampaay Srl and FMA Group Srl, which have respectively contributed to the pursuit of the strategic lines indicated by the company management in terms of foreign development and data valorization, launched in this financial year."

With the aim of drafting the next corporate business plan 2024-2026 on the basis of substantially definitive data with regard to the current year and wanting to take into consideration the actual configuration of the company's scope at the end of the year following the possible realization of additional M&A opportunities, the board of directors welcomed the proposal of the company's CEO and CFO to postpone its definition and dissemination to the last quarter of 2023.

Following this resolution, the board evaluated the current different development opportunities in terms of M&A - reported by the CEO - and resolved favorably on pursuing them.

The board also resolved favorably about the creation of a new advisory board of a strategic-financial nature, called Strategy Growth, formed by professionals already in the company's perimeter and open to the participation of additional external specialists who will be paid exclusively through work for equity. This board will be in charge of pursuing the current strategic lines and those that will be outlined in the aforementioned new business plan-with a focus on M&A transactions and foreign development-which are preparatory to the continuous and constant growth of the group's average operating margin and the achievement of a greater correspondence of the equity enterprise value with the company's fundamentals.

Finally, the board of directors resolved to promote Lucasevich from the role of Head of MICE, held since March of this year, to General Manager of Sinergie Srl, "recognizing the important work that thanks to his skills and human caliber he has already accomplished in these first months of activity. The governance of Sinergie will therefore be strengthened both through the persistent leadership in terms of business and alignment with other labels in the head of the group's CEO, and with the presence of Maria Guadalupe Lucasevich as head of all operational activities related to the MICE and events sector."

Davide Verdesca, group CEO of SG Company, said, "I am very pleased to be able to basically announce now in June that the company has started and achieved all the points outlined in the business plan updated last March, confirming the seriousness of the management in defining the objectives and the ability to achieve them. I would like to thank the board of directors, which has given me the necessary delegated powers to continue with the additional M&A activities that I count on completing in this fiscal year and which will enable the company to achieve important goals in terms of group revenues and margins, which have never been achieved until now."

"We set out our vision for the group and what we would like to achieve and then put it into practice; I am sorry if SG Company's stock value currently does not reflect the company's core values but I believe alignment is only a matter of time."

SG Company's stock closed Wednesday down 2.0 percent at EUR0.30 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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