Interim / Quarterly Report • Nov 14, 2022
Interim / Quarterly Report
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Company The Board of Directors approved today the Interim Financial Report as of 30 September 2022.
eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore The first nine months of 2022 showed revenues up by 5.5% compared to 2021, due to the Cosmetics BU and Pharma BU performance. The Pharma BU exceeded the turnover for 2021 (+38.7%) in the first nine months of 2022. This was because of the integration and streamlining of the Group business.
harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci.
1 See footnote
2 See footnote
Company Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il Verdellino (Bergamo, Italy), 14 November 2022 - The Board of Directors of Fine Foods & Pharmaceuticals N.T.M. S.p.A. - an Italian independent Contract Development & Manufacturing Organisation (CDMO) that develops and manufactures contract products for the pharmaceutical, nutraceutical, cosmetics, biocides and medical devices industries, listed on Euronext STAR Milan (ticker: FF), approved the Interim Financial Report as of 30 September 2022.
invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore The first nine months of 2022 saw a progressive business growth for Fine Foods. This was due to strengthening R&D, marketing and commercial activities, and defensive actions on the cost structure undertaken by the Group to cope with the complexity and uncertainty of the evolving international economic and geo-political situation.
solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a The first nine months of 2022 showed Revenues of € 152.8 million, up 5.5% from € 144.9 million in 9M 2021.
dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam The Q3 2022 revenue trend (€ 52.2 million) increased compared to the previous quarters as follows: € 49.8 million in Q2 2022, € 50.8 million in Q1 2022, and € 50 million in Q4 2021. The Parent Company Q3 2022 revenues (€ 43.8 million) were higher than the previous three quarters.
estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, The Pharma Business Unit confirmed its turnover increase in Q3 2022, reaching € 40 million in 9M 2022. This represented a growth of 38.7% compared to the same period of the previous year. The Pharma BU revenues in 9M 2022 have exceeded the FY 2021 revenues.
simus. Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea The contribution of the Cosmetics Business Unit in 9M 2022 was € 26.5 million. Considering that Pharmatek was acquired in January 2021 and Euro Cosmetic in October 2021, a year-on-year comparison was not shown. However, comparing the Cosmetics BU revenues in 9M 2022 to the aggregate figure of the two stand-alone companies in the same period of 2021, there was an increase of 8.5% due to the progressive organisational, production and commercial integration of the two companies.
archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Revenues of the Food Business Unit in 9M 2022 were € 86.4 million compared to € 107.2 million in 9M 2021. This result was mainly attributable to a production decrease in markets affected by the Russian-Ukrainian conflict and a slowdown in our customers' activities in the Multilevel Marketing sector. They saw a sales drop following the recovery of the post-Covid economy.
Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma The decline in the Food Business Unit in 9M 2022 was largely offset by increases in turnover in the Pharma and Cosmetics BUs.
conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil EBITDA in 9M 2022 was € 12.1 million compared to € 18 million in 9M 2021. Adjusted EBITDA was € 12.6 million, down from € 18.8 million during the same period of the previous financial year, due to the supply chain crisis and the significant increase in energy costs. In Q3 2022 these costs were € 2.6 million (€ 5.4 million in 9M) with an incidence on revenues of 5% compared to 1.1% in Q3 2021 (3.5% in 9M compared to 1% in 9M 2021, equal to a change in absolute value of approximately € 4 million).
id moluptatur. endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime Both effects were attributable to the continuing international economic situation.
eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. EBITDA Margin in 9M 2022 was 7.9% and Adjusted EBITDA Margin was 8.2%, down from 12.4% and 13% in 9M 2021 respectively. The Adjusted EBITDA Margin comparison over the last four quarters showed a 4.7% in Q4 2021, a 7.8% in Q1 2022, an 8.9% in Q2 2022 and an 8% in Q3 2022. This quarter was marked by further significant increases in energy costs. Excluding the above increases, Adjusted EBITDA Margin was 12% in Q3 2022 and 10.8% in 9M 2022. These values were closer to Fine Foods' historical margin trends.
Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il In Q3 2022, the material and energy cost increases were further shared with customers. The incidence of production downtime that affected the first part of the year was substantially reduced due to efficient stock management. The Group is addressing the energy crisis with the use of co-generators and photovoltaic systems and securing the supply with forward contracts.
invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum The Operating Profit (EBIT) in 9M 2022 was € 1 million, down from € 8.3 million in 9M 2021. The Adjusted EBIT was € 1.4 million, down from € 9.2 million in 9M 2021, due to the same causes that impacted Adjusted EBITDA, as above mentioned, and a depreciation and amortisation increase.
facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic Income before taxes for the first nine months of 2022 was € -11.6 million and Adjusted Income before taxes was € -11.1 million, down from € -2.2 million and € +11.4 million in 9M 2021, respectively. This loss was almost entirely attributable to the negative result from financial operations totalling € -12.6 million, which lead to a 9M 2022 Loss for the period of € -11.9 million (Adjusted Loss for the period € -11.6 million) compared to € -2.93 million in 9M 2021 (Adjusted Profit for the period € +7.44 million in 9M 2021). The negative result from financial operations was due to two factors.
cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo The Expert did not deem this portion of the receivable admissible, even if, in their opinion, a Contract literal interpretation suggests that the Leakage reimbursement request should be entirely granted to the acquiring party. The Company will consider further action to recover the claim in its entirety.
offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. The Result for the Period was impacted by the write-down of the remaining part of the related financial receivables for € 3.2 million.
conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea Fine Foods & Pharmaceuticals N.T.M. S.p.A. Chief Executive Officer, Giorgio Ferraris, said:
vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil id moluptatur. "We confirm the recovery trend from the most critical quarter of the current crisis, i.e. Q4 2021, although the geopolitical and macroeconomic environment is significantly penalising 2022 margins, mainly due to rising energy costs, which are subject to geopolitical factors. We are optimistic about the outlook for the coming months and the continued improvement of the critical supply chain issues."
harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. 3 See footnote
4 See footnote
Company Tangible Fixed Assets, Intangible Fixed Assets and Rights to Use were €128.2 million as of 30 September 2022 compared to € 127.5 million as of 31 December 2021, increasing by € 0.6 million due to investments of approximately € 11.8 million and amortisation and depreciation of approximately € 11.1 million.
eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore Working capital as of 30 September 2022 was € 48.9 million compared to € 34.6 million at the end of the previous financial year. This decline was generated by the increase in trade receivables (€ 9.5 million) and inventories (€ 7.5 million), which rose sharply due to the unavailability of raw and packaging materials. The "Other current assets" item improved (€ 4.1 million) due to the reduction of the VAT Receivable of € 4.4 million.
solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur The Shareholders' Equity as of 30 September 2022 was impacted by the loss for the period and the distribution of Dividends.
magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, simus. Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. The Group's Net Financial Position as of 30 September 2022 was € 46.8 million, up from the NFP of € 15.7 million as of 31 December 2021. As highlighted in the half-year results, the change was mainly due to the increase in commercial Net Working Capital, CAPEX made in the period and dividends distributed in H1 2022 following the resolution to approve the Financial Statements for the year ended 31 December 2021. We report the improvement in the NFP trend in the three quarters of the 2022 financial year, with absorption of € 17.3 million in Q1 2022, € 9.2 million in Q2 2022 (€5.3 million net of dividends) and € 4.7 million in Q3 2022 (€ 1.4 million net of the financial receivables write-down).
cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same By a 13 October 2022 resolution, the Shareholders' Meetings approved the planned Merger by incorporation of "Pharmatek PMC" into "Euro Cosmetic". The proposed merger will be implemented using a simplified procedure under Art. 2505 of the Italian Civil Code . The merger's civil legal effects will run from the date on which the last merger deed registration is made in the Companies' Register or from the date specified in the merger deed (by the end of December 2022). Transactions carried out by Pharmatek PMC will be recorded in the Financial Statements of the merging company as of 1 January 2023, along with the merger tax effects.
vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia Due to the results achieved in 9M 2022, we confirm what was stated in the Half-Year Financial Report, i.e. the Group expects to meet the challenges of the current and future years and return to historical growth.
con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil id moluptatur. The Group will develop the business along the three main lines - Pharma, Food and Cosmetics - by strengthening R&D, marketing and sales activities and implementing continuous improvement projects.
endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis Due to synergies with the Parent Company, the development and integration activities of the acquired companies continue to generate future business opportunities in the cosmetics sector. Fine Foods will seize any opportunities for growth through external lines.
dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. In addition to the policies for the management of inventories and for recharging the cost of raw and packaging materials, and incremental energy costs to customers, the Group has installed two photovoltaic
CF / P.IVA IT 09320600969 CAP. SOC. € 22.770.445,02 FINEFOODS.IT
Company systems at its Trenzano (BS) and Brembate (BG) sites. These will bring energy efficiencies in the last period of 2022, and positive environmental effects, which will be consolidated in FY 2023.
Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil The Parent Company applied for recognition by the relevant authorities of the 'White Certificates' resulting from the activation of the two co-generators.
eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum Fine Foods' sustainability programme is continuing and obtained the Platinum Sustainability Rating from Ecovadis. This is an increasingly competitive factor in a world oriented toward developing and implementing sustainable practices which create wealth while reducing the environmental impact.
facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur The Board of Directors today approved the updates to the Inside Information Disclosure Procedure and the Organisation, Management and Control System under Legislative Decree no. 231/01.
magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi
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ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, simus. It should be noted that under Article 154-ter, paragraph 2, of Legislative Decree no. 58 of 24 February 1998, the Interim Financial Report as of 30 September 2022, approved by the Board of Directors on today's date, will be made available today to shareholders and the public at the Company's registered office, on the Company's website at www.finefoods.it, Investor Relations/Financial Reports section, and the authorised storage system - .
Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea Under Art. 154-bis, paragraph 2 of the Consolidated Law on Financial Intermediation, the Manager responsible for preparing the corporate financial reports, Pietro Bassani, declared that the accounting information contained in this press release corresponds to the document results, accounting books and records.
offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma This press release is available on the Fine Foods website www.finefoods.it, in the Investor Relations/Press Releases section. The Inside Information Disclosure Procedure is available on the Fine Foods' website at www.finefoods.it, in the Governance/Corporate Documents section. Organisation, Management, and control System under Legislative Decree no. 231/01 is available on the Fine Foods' website www.finefoods.it, in the Sustainability/Code of Ethics and Policies section.
iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea
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velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil id moluptatur. endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. Fine Foods & Pharmaceuticals N.T.M. S.p.A., listed on Borsa Italiana's Euronext STAR Milan (Ticker: FF) is an Italian independent CDMO (Contract Development and Manufacturing Organisation) It develops and manufactures contract products for the pharmaceutical, nutraceutical, cosmetics, biocides and medical devices industries. Founded in 1984, Fine Foods proved to be a reliable and capable strategic partner for customers in the reference sectors. The company's organisation can provide successful design process and solid, long-term partnerships. The continuous search for excellence is part of the company's business model and includes research and development, innovation, process reliability, product quality, ESG, and sustainable management of the Group's supply chain. Fine Foods is a benefit corporation which relies on certifications and ratings under international standards. These guarantee its sustainability commitment across the business. With € 193 million revenue in 2021 and more than 11 per cent CAGR over the last decade, Fine Foods is a growing and future-oriented company.
CF / P.IVA IT 09320600969 CAP. SOC. € 22.770.445,02 FINEFOODS.IT
Company Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero For further information: Fine Foods & Pharmaceuticals N.T.M. S.p.A. Tel +39 035 4821382 Investor Relations: [email protected] Media Relations: [email protected]
solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic 1. The Group reclassified the revenues from services provided to customers from "other revenues" to "revenues", as the latter meet the requirements to be reported under "revenues from customer contracts." The comparative figures have been restated accordingly. Revenues from customer contracts as of 30 September 2021 are currently € 144.9 million compared to € 143.4 million presented before according to the Press Release issued on 12 November 2021. This did not effect the Income Statement subtotal Total revenue or other Income Statement items. The percentages for the 30 September 2021 figures reported in this press release have been recalculated based on the new value of customer contract revenues of € 144.9 million.
ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat 2. The Adj. EBITDA is the operating result before Amortisation, Depreciation and Provisions minus operating revenues and costs that, although business related, were non-recurring and did not significantly impact results.
estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, simus. 3. The loss for the first nine months of 2021 was attributable to the accounting effects generated by the change in fair value of listed and unlisted warrants held by the Parent Company that have been fully converted into shares.
Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin 4. Adjusted Net Income for the first nine months of 2021, of € 7.4 million, was changed in this Interim Financial Report, and in the 30 June 2022 Half-Year Financial Report compared to € 10.5 million in the 30 September 2021 Interim Financial Report and the related Press Release issued on 12 November 2021 to incorporate the taxation on the change in the fair value of the warrants specified in the reply to the question ("interpello") submitted by the Parent Company to the Inland Revenue Agency, received at the end of 2021.
| Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil (amounts in € units) eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il |
Nine Months 30 September 2022 |
Nine Months 30 September 2021 |
|---|---|---|
| invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. | ||
| Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero Revenues and income |
||
| maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum Revenues from contracts with customers |
152,816,103 | 144,857,681 |
| facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore Other revenues and income |
326,276 | 211,990 |
| solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a Total revenues |
153,142,380 | 145,069,671 |
| dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet | dercill itiatem cum que doluptur | |
| magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi Operating costs |
||
| ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam Costs for consumption of raw materials, change in inventories of finished goods and work in progress. |
92,707,301 | 87,128,213 |
| estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic Personnel costs |
28,249,926 | 25,077,300 |
| Costs for services ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni |
19,121,884 | 14,016,014 tem etum laborat |
| Other operating costs estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, |
944,914 | 866,095 |
| Amortisation, depreciation, and impairment losses simus. |
11,133,814 | 9,640,744 |
| Total operating costs Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. |
152,157,839 | 136,728,367 |
| Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? | ||
| Changes in fair value of financial assets and liabilities Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin |
(7,885,713) | (10,027,799) |
| Financial income | 29,962 | 24,854 |
| cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea Financial charges |
(4,695,584) | (513,262) |
| archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo Income before taxes |
(11,566,794) | (2,174,903) |
| offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet Income taxes |
322,460 | 713,607 |
| haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus Profit/(loss) for the financial year plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. |
(11,889,254) | (2,888,510) |
| iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea (amounts in € units) vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro |
Nine Months 30 September 2022 |
Nine Months 30 September 2021 |
||
|---|---|---|---|---|
| Profit /(loss) for the financial year (A) velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia |
(11,889,254) | (2,888,510) | ||
| con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil Components that will not be subsequently reclassified to profit/(loss) for the financial year id moluptatur. |
||||
| Revaluation of net employee benefit liabilities/assets endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime |
324,505 | 37,620 | ||
| Tax effect eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid |
(40,099) | (9,029) | ||
| earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis | ||||
| Other comprehensive income (B) components dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit |
284,406 | 28,591 | ||
| harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. Comprehensive profit/(loss) (A+B) |
(11,604,848) | (2,859,918) |
| Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil (amounts in € units) |
30 September 2022 | 31 December 2021 |
|---|---|---|
| eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il Assets |
||
| Non-current assets invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. |
||
| Property, plant and machinery Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero |
104,103,223 | 102,886,510 |
| Goodwill | 15,907,954 | 15,907,954 |
| maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum Other intangible fixed assets |
2,235,487 | 2,337,675 |
| facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore Rights of use |
5,914,637 | 6,408,388 |
| solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a Other non-current assets |
239,610 | 237,333 |
| Deferred tax assets dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet |
3,058,831 | 3,482,100 dercill itiatem cum que doluptur |
| Total non-current assets magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi |
131,459,742 | 131,259,960 |
| Current assets ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam |
||
| Inventories | 42,597,018 | 35,050,484 |
| estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic Trade receivables |
38,906,311 | 29,433,391 |
| ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni Tax receivables |
2,421,903 | tem etum laborat 2,421,853 |
| estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, Other current assets |
5,425,182 | 9,554,455 |
| Current financial assets simus. |
66,401,641 | 77,971,110 |
| Cash and other liquid assets Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. |
14,058,769 | 17,118,957 |
| Total current assets | 169,810,825 | 171,550,251 |
| Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? | ||
| Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin Total assets |
301,270,567 | 302,810,211 |
| cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea | ||
| archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo Shareholders' equity |
||
| Share Capital offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet |
22,770,445 | 22,770,445 |
| Other reserves haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus |
126,509,806 | 132,615,098 |
| Employee benefit reserve | 213,395 | (71,012) |
| plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. FTA reserve |
(6,669,789) | (6,669,789) |
| Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same Profits carried forward |
22,610 | - |
| nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma Profit/(loss) for the financial year |
(11,889,254) | (1,426,751) |
| Total Shareholders' Equity conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea |
130,957,212 | 147,217,991 |
| iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea | ||
| Non-current liabilities vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro |
||
| Bonds | 3,332,679 | 3,322,876 |
| velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia Non-current bank borrowings |
78,924,822 | 35,298,177 |
| con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil Employee benefits |
2,553,678 | 3,010,691 |
| id moluptatur. Provisions for risks and charges |
163,099 | 35,489 |
| Provision for deferred taxes endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime |
1,060,981 | 1,081,159 |
| Non-current lease payables eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid |
2,634,404 | 3,137,292 |
| Other non-current financial liabilities earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis |
- | |
| Total non-current liabilities | 88,669,663 | 45,885,684 |
| dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit | ||
| harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. Current liabilities |
||
| Bonds | 3,319,532 | 3,310,176 |
Via Berlino, 39 Zingonia-Verdellino 24040 (BG) Italia T. +39 035 4821382 [email protected]
CF / P.IVA IT 09320600969 CAP. SOC. € 22.770.445,02 FINEFOODS.IT
8
| Company Current bank borrowings |
38,287,618 | 64,920,523 |
|---|---|---|
| Trade payables | 30,655,197 | 32,532,117 |
| Taxes payable | - | 5,536 |
| Current lease payables | 806,126 | 774,991 |
| Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil Other current financial liabilities |
- | - |
| eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il Other current liabilities |
8,575,220 | 8,163,193 |
| invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Total current liabilities |
81,643,692 | 109,706,536 |
| Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero | ||
| Total Shareholders' equity and Liabilities maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum |
301,270,567 | 302,810,211 |
| estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic | 9 months | 9 months |
|---|---|---|
| ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni | 30 September 2022 | tem etum laborat 30 September 2021 |
| estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
(11,889,254) | (2,888,510) |
| simus. | ||
| Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Adjustments to reconcile profit after tax with net cash flows: |
||
| Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Depreciation and impairment of property, plant and machinery |
9,756,099 | 8,559,117 |
| Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin Amortisation and impairment of intangible fixed assets |
643,726 | 659,294 |
| cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea Amortisation of rights of use |
733,989 | 371,576 |
| archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo Other write-downs of fixed assets |
- | 14,155 |
| offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet Impairment of financial receivables |
3,266,960 | - |
| haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus Financial income |
(29,962) | (24,854) |
| plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Financial charges |
1,385,843 | 499,428 |
| Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same Changes in fair value of financial assets and liabilities |
7,885,713 | 10,027,799 |
| Financial charges on financial liabilities for leases nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma |
42,781 | 13,834 |
| Income taxes conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea |
(32,753) | 357,665 |
| Personnel costs for stock grants iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea |
- | 793,833 |
| Gains on the disposal of property, plant and machinery vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro |
(36,492) | (72,853) |
| Current assets write-downs velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia |
681,515 | 542,601 |
| Net change in severance indemnity and pension funds con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil |
(154,123) | (109,339) |
| Net change in provisions for risks and charges id moluptatur. |
150,000 | - |
| Net change in deferred tax assets and liabilities | 362,992 | 355,942 |
| endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime Interest paid |
- | (483,189) |
| eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid Income taxes paid |
- | (3,538,262) |
| earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis Changes in net working capital: |
||
| dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit (Increase)/decrease in inventories |
(8,075,510) | (7,006,852) |
| harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. (Increase)/decrease in trade receivables |
(9,696,571) | (9,093,958) |
| (Increase)/decrease in other non-financial assets and liabilities | 4,563,141 | (7,177,918) |
Via Berlino, 39 Zingonia-Verdellino 24040 (BG) Italia T. +39 035 4821382 [email protected]
CF / P.IVA IT 09320600969 CAP. SOC. € 22.770.445,02 FINEFOODS.IT
9
| Company Disposal of assets held for sale |
- | 495,000 |
|---|---|---|
| Increase/(decrease) in trade payables | (1,802,758) | (3,799,739) |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | (3,621,712) | (8,616,719) |
| Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil | ||
| eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il Investments: |
||
| invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Investments in tangible fixed assets |
(11,092,500) | (6,983,087) |
| Disposal of tangible fixed assets Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero |
156,181 | 162,879 |
| Investments in intangible fixed assets maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum |
(541,538) | (751,113) |
| Net (investments)/disposals in financial assets facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore |
416,796 | 4,151,576 |
| Acquisition of Subsidiaries solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a |
- | (9,645,232) |
| NET CASH FLOWS FROM INVESTMENTS dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet |
(11,061,062) dercill itiatem cum que doluptur |
(13,064,978) |
| magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi | ||
| Financing: ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam |
||
| New financing estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic |
72,650,407 | 31,621,332 |
| Funding repayment | (55,637,508) | (302,129) |
| ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni Principal payments - lease liabilities |
(711,991) | tem etum laborat (301,297) |
| estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, Dividends paid to the parent company's shareholders |
(3,866,869) | (3,205,727) |
| simus. Share capital increase |
- | 168,560 |
| Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Sale/(purchase) of treasury shares |
(811,452) | (6,230,907) |
| Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? CASH FLOWS FROM FINANCING |
11,622,588 | 21,749,833 |
| Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin NET CHANGE IN CASH AND CASH EQUIVALENTS |
(3,060,186) | (2,820,374) |
| cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea Cash and short-term deposits as of 1 January |
17,118,957 | 3,342,518 |
| archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo Cash and short-term deposits as of 30 September |
14,058,769 | 522,145 |
| Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. |
Share Capital | Legal reserve |
Negative reserve for treasury shares in the portfolio |
Merger surplus reserve |
Share premium reserve |
Extraordinary reserve |
Other reserves |
FTA reserve | Employee benefit reserve |
Profits/losses carried forward |
Profit/loss for the financial year |
Total Shareholders' equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero | ||||||||||||
| Balance as of 1 January 2022 maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum |
22,770,445 | 5,000,000 | (15,939,707) | 29,741,389 | 86,743,750 | 19,556,720 | 7,512,947 | (6,669,789) | (71,011) | - | (1,426,751) | 147,217,991 |
| facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore | ||||||||||||
| Profit/(loss) for the financial year solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a |
(11,889,254) | (11,889,254) | ||||||||||
| Other income statement components dolenimilit lam as volo |
- quid eossincium, |
- ut |
- labo. Ehendicat |
- officet |
- dercill |
- itiatem cum |
- que |
- doluptur |
284,406 | 284,406 | ||
| Comprehensive profit/(loss) magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi |
- | - | - | - | - | - | - | - | 284,406 | - | (11,889,254) | (11,604,848) |
| ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam Dividends |
(3,866,869) | (3,866,869) | ||||||||||
| estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic IRS derivatives provision |
22,390 | 22,390 | ||||||||||
| ipiciet am dolupid quia Stock Grant |
digent fugias |
eostia | nossecus, 3,130,050 |
invero od |
essit,i | officeni tem |
etum (3,130,050) |
laborat | ||||
| estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, Purchase of treasury shares |
(811,452) | (811,452) | ||||||||||
| simus. 2021 profit allocation Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. |
(1,449,361) | 22,610 | 1,426,751 | - | ||||||||
| Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Balance as of 30 September 2022 Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin |
22,770,445 | 5,000,000 | (13,621,109) | 29,741,389 | 86,743,750 | 14,240,490 | 4,405,287 | (6,669,789) | 213,395 | 22,610 | (11,889,254) | 130,957,213 |
| haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus Fine Foods & Pharmaceuticals N.T.M. S.p.A. |
|
|---|---|
| Via Berlino, 39 Zingonia-Verdellino 24040 (BG) Italia plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. |
CF / P.IVA IT 09320600969 |
| T. +39 035 4821382 [email protected] |
offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet
Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same CF / P.IVA IT 09320600969 CAP. SOC. € 22.770.445,02 FINEFOODS.IT
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