Half-year
Financial
Report at 30/06/2023
This English version of Tinexta's Half-year Financial Report at 30/06/2023 is made available to provide non- Italian speakers a translation of the original document. Please note that in the event of any inconsistency or discrepancy between the English version and the Italian version, the original Italian version shall prevail
CONTENTS | |
INTERIM REPORT ON OPERATIONS | 6 |
Group activities | 6 |
Key events of the period | 11 |
Definition of "non-GAAP" alternative performance indicators | 17 |
Summary of results for the first half of 2023 | 20 |
Summary of second quarter 2023 results | 29 |
Statement of financial position of the Group | 35 |
Key events subsequent to the end of the half year | 40 |
Outlook | 42 |
Treasury share purchase programme | 42 |
2020-2022 Stock Option Plan | 44 |
2021-2023 Stock Option Plan | 45 |
2023-2025 Performance Shares Plan | 46 |
Main risks and uncertainties | 46 |
Transactions with Related Parties | 50 |
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS | 51 |
Consolidated Financial Statements | 52 |
Notes to the Condensed Interim Consolidated Financial Statements at 30 June 2023 | 59 |
Information on the Statement of Financial Position | 80 |
Information on the Comprehensive Income Statement | 106 |
Additional information | 118 |
Certification of the Condensed Interim Consolidated Financial Statements of Tinexta Group at 30 | |
June 2023 pursuant to Art. 154 bis, paragraph 5 of the Legislative Decree No. 58/1998 (Testo Unico | |
della Finanza) | 124 |
Report on review of Condensed interim Consolidated Financial Statements | 125 |
Tinexta S.p.A. - Half-Yearly Financial Report at 30 June 2023 | 2 |
Company data and composition of corporate bodies
Parent Company's Registered Office
TINEXTA S.p.A.
Piazza Sallustio 9
00187 Rome - Italy
Statutory Information about the Parent Company
Share capital resolved, subscribed and paid-in €47,207,120 Rome Corporate Registry no. RM 1247386
Tax ID and VAT no. 10654631000 Institutional website www.tinexta.com
Corporate bodies currently in office | |
Board of Directors | |
Enrico Salza | Chairperson |
Riccardo Ranalli | Deputy Chairperson |
Pier Andrea Chevallard | Chief Executive Officer |
Laura Benedetto | Director |
Eugenio Rossetti | Director (independent) |
Valerio Veronesi | Director (independent) |
Elisa Corghi | Director (independent) |
Paola Generali | Director (independent) |
Caterina Giomi | Director (independent) |
Laura Rovizzi | Director (independent) |
Gianmarco Montanari | Director (independent) |
Control, Risks and Sustainability Committee | |
Eugenio Rossetti | Chairperson |
Riccardo Ranalli | |
Laura Rovizzi | |
Related Party Committee | |
Valerio Veronesi | Chairperson |
Paola Generali | |
Caterina Giomi | |
Remuneration Committee | |
Elisa Corghi | Chairperson |
Laura Benedetto | |
Gianmarco Montanari | |
Board of Statutory Auditors | |
Luca Laurini | Chairperson |
Andrea Bignami | Standing Auditor |
Monica Mannino | Standing Auditor |
Maria Cristina Ramenzoni | Alternate Auditor |
Umberto Bocchino | Alternate Auditor |
Independent Auditors | |
KPMG S.p.A. |
Manager responsible for the preparation of the corporate accounting documents Oddone Pozzi
Registered and operating headquarters | Operating headquarters |
Piazza Sallustio 9 - 00187 Rome | Via dei Valtorta 47 - 20127 Milan |
Via Principi d'Acaia 12 - 10138 Turin |
Tinexta S.p.A. - Half-Yearly Financial Report at 30 June 2023 | 3 |
Summary of Group results
Summary income statement data | 1st half 2023 | 1st half 2022 | Change | % | ||||||||
(Amounts in thousands of Euro) | Restated1 | change | ||||||||||
Revenues | 182,476 | 168,001 | 14,475 | 8.6% | ||||||||
Adjusted EBITDA | 37,905 | 37,055 | 849 | 2.3% | ||||||||
EBITDA | 34,528 | 32,625 | 1,902 | 5.8% | ||||||||
Adjusted operating profit (loss) | 28,015 | 28,771 | (757) | -2.6% | ||||||||
Operating profit (loss) | 15,235 | 15,818 | (583) | -3.7% | ||||||||
Adjusted net profit from continuing operations | 18,874 | 18,760 | 114 | 0.6% | ||||||||
Net profit from continuing operations | 9,336 | 10,915 | (1,579) | -14.5% | ||||||||
Profit (loss) from discontinued operations | 36,065 | 3,270 | 32,795 | 1002.9% | ||||||||
Net profit | 45,401 | 14,185 | 31,216 | 220.1% | ||||||||
Adjusted free cash flow from continuing operations | 29,268 | 22,978 | 6,289 | 27.4% | ||||||||
Free cash flow from continuing operations | 27,941 | 16,116 | 11,825 | 73.4% | ||||||||
Free cash flow | 27,685 | 23,147 | 4,538 | 19.6% | ||||||||
Earnings per share (in Euro) | 0.94 | 0.28 | 0.67 | 240.7% | ||||||||
Earnings per share from continuing operations (in Euro) | 0.15 | 0.21 | (0.06) | -28.5% | ||||||||
Summary income statement data | 2nd quarter | 2nd quarter | % | |||||||||
2022 | Change | |||||||||||
(Amounts in thousands of Euro) | 2023 | change | ||||||||||
2 | ||||||||||||
Restated | ||||||||||||
Revenues | 96,424 | 89,851 | 6,573 | 7.3% | ||||||||
Adjusted EBITDA | 22,953 | 22,551 | 401 | 1.8% | ||||||||
EBITDA | 20,985 | 21,048 | (63) | -0.3% | ||||||||
Adjusted operating profit (loss) | 17,842 | 18,277 | (436) | -2.4% | ||||||||
Operating profit (loss) | 10,952 | 12,405 | (1,454) | -11.7% | ||||||||
Adjusted net profit from continuing operations | 12,205 | 12,105 | 100 | 0.8% | ||||||||
Net profit from continuing operations | 7,249 | 9,588 | (2,338) | -24.4% | ||||||||
Profit (loss) from discontinued operations | (1,565) | 1,687 | (3,252) | -192.8% | ||||||||
Net profit | 5,684 | 11,274 | (5,590) | -49.6% | ||||||||
Adjusted free cash flow from continuing operations | 6,495 | 655 | 5,839 | 891.0% | ||||||||
Free cash flow from continuing operations | 6,802 | (4,303) | 11,105 | -258.1% | ||||||||
Free cash flow | 6,789 | (1,427) | 8,216 | -575.9% | ||||||||
Earnings per share (in Euro) | 0.09 | 0.23 | (0.13) | -58.4% | ||||||||
Earnings per share from continuing operations (in Euro) | 0.12 | 0.19 | (0.07) | -36.6% | ||||||||
- The comparative figures of first half of 2022 have been restated in relation to the completion, in the fourth quarter of 2022, of the activities to identify the fair values of the assets and liabilities of CertEurope S.A., consolidated on a line-by-line basis from 1 November 2021, of Evalue Innovacion consolidated on a line-by-line-basis from 1 January 2022, of Enhancers S.p.A. consolidated from 1 April 2022 and of Sferabit S.r.l. consolidated from 1 May 2022.
- The comparative figures of the second quarter of 2022 have been restated in relation to the completion, in the fourth quarter of 2022, of the activities to identify the fair values of the assets and liabilities of CertEurope S.A., consolidated on a line-by-line basis from 1 November 2021, of Evalue Innovacion consolidated on a line-by-line-basis from 1 January 2022, of Enhancers S.p.A. consolidated from 1 April 2022 and of Sferabit S.r.l. consolidated from 1 May 2022.
Tinexta S.p.A. - Half-Yearly Financial Report at 30 June 2023 | 4 |
Summary financial position statement data | 30/06/2023 | 31/12/2022 | Change | % change | ||
(Amounts in thousands of Euro) | ||||||
Share capital | 47,207 | 47,207 | 0 | 0.0% | ||
Shareholders' equity | 447,411 | 402,015 | 45,396 | 11.3% | ||
Total financial indebtedness | 52,552 | 77,557 | (25,005) | -32.2% | ||
Summary financial position statement data | 30/06/2023 | 30/06/20223 | Change | % change | ||
(Amounts in thousands of Euro) | ||||||
Share capital | 47,207 | 47,207 | 0 | 0.0% | ||
Shareholders' equity | 447,411 | 311,563 | 135,848 | 43.6% | ||
Total financial indebtedness | 52,552 | 267,834 | (215,282) | -80.4% | ||
3 The comparative figures at 30 June 2022 have been restated in relation to the completion, in the fourth quarter of 2022, of the activities to identify the fair values of the assets and liabilities of CertEurope S.A., consolidated on a line-by-line basis from 1 November 2021, of Evalue Innovacion consolidated on a line-by-line-basis from 1 January 2022, of Enhancers S.p.A. consolidated from 1 April 2022 and of Sferabit S.r.l. consolidated from 1 May 2022.
Tinexta S.p.A. - Half-Yearly Financial Report at 30 June 2023 | 5 |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Tinexta S.p.A. published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 07:30:03 UTC.