Relatech

Earnings Release • Jul 28, 2022

Informazione Regolamentata n. 20162-72-2022		Data/Ora Ricezione 28 Luglio 2022 08:53:50	Euronext Growth Milan
Societa'	:	RELATECH
Identificativo Informazione Regolamentata	:	165376
Nome utilizzatore	:	RELATECHN02 - ROSSI
Tipologia	:	REGEM
Data/Ora Ricezione	:	28 Luglio 2022 08:53:50
Data/Ora Inizio Diffusione presunta	:	28 Luglio 2022 08:53:51
Oggetto	:	RELATECH: CONSIDERING CERTAIN CONSOLIDATED ECONOMIC AND FINANCIAL DATA AT 30 JUNE 2022
Testo del comunicato

Vedi allegato.

PRESS RELEASE

RELATECH: CONSIDERING CERTAIN CONSOLIDATED ECONOMIC AND FINANCIAL DATA AT 30 JUNE 2022

CONSOLIDATED SALES REVENUES EQUAL TO APPROXIMATELY EURO 25.3 MILLION, UP BY 118%

• Foreign revenues up 42%
• Recurring revenues of 34% (up 166%)
• Operating Net Financial Position equal to approximately Euro 1.3 million with cash liquidity of approximately Euro 13.9 million

Milan, 28Th July 2022

Relatech S.p.A., Digital Enabler Solution Know-how (DESK) Company and innovative SME listed on the Euronext Growth Milan market (Ticker: RLT), announces that, today, the Company's Board of Directors has examined certain consolidated economic and financial management data, not subject to auditing, as at 30 June 2022.

REVENUES ANALYSIS

The economic and financial data of the pro-formed group following the acquisition of EFA Automazione S.p.A. (formalized on February 18, 2022) show pro-forma Group Sales Revenues at June 30, 2022 equal to approximately Euro 28.1 million, an increase of 87% compared to approximately Euro 15.1 million pro-forma at June 30, 2021. Revenues consist of:

• Revenues from sales of the Relatech Group (Relatech, Relatech Consulting, Ithea, OKT, Mediatech, Xonne, Dialog Sistemi, Gruppo SIGLA, Dtok Lab) as at 30 June 2022 amounted to approximately Euro 16.8 million;
• Revenues from sales of EFA Automazione at 30 June 2022 amounted to approximately Euro 11.3 million
• Consolidated revenues from sales amounted to approximately Euro 25.3 million, up 118% compared to the same period of 2021.

The share of recurring revenues amounts to approximately Euro 8.6 million, an increase of 166% compared to Euro 3.2 million at 30 June 2021 and is equal to 34% of consolidated Sales Revenues.

CASH FLOW ANALYSIS FOR THE PERIOD

The consolidated operating net financial position (calculated as debt net of financial debt and liabilities for rights of use) at 30 June 2022 shows a net value of approximately Euro 1.3 million with cash liquidity of Euro 13,9 million approximately, compared to a Net Financial Position at 31 March 2022 equal to approximately Euro 6 million.

As a result of the inclusion of the adjustments induced by the valuation of the option rights for the purchase of the remaining shares of EFA Automazione S.p.A., the Net Financial Position calculated in accordance with the application of the IFRS 9 accounting standard is equal to Euro 4 million at 30 June.

The following transactions are highlighted as extraordinary expenses which affected the Net Financial Position at 30 June 2022, compared to 31 March 2022:

• approximately Euro 0.4 million for M&A transactions
• approximately Euro 0.4 million for the purchase of treasury shares

It should also be noted that, in the third and final exercise period of the Relatech Warrants 2019-2022 (ISIN code IT0005373292) included in the week from 9 May 2022 to 20 May 2022, have been exercised no. 3,458,772 Warrants for a total value of Euro 4,928,750.10.

Pasquale Lambardi, President and CEO Relatech, declared: "I am very satisfied with the results published today, which demonstrate the constant search for innovation that has always distinguished the Relatech Group. Innovation for Relatech means i) investing in research and development activities aimed at identifying new cutting-edge technologies and applying them to concrete market needs, ii) developing innovative digital services and solutions aimed at ensuring sustainable growth of the business of our stakeholders iii) continue with the innovative growth driver of 3M Strategy, Merge, Management, Margin. Today's results make tangible the effectiveness of 3M Strategy, which in the first six months of 2022 allowed the group to continue to grow both internally and externally, welcoming in the group new excellences in terms of human resources, of acquired companies, skills, customers, suppliers and shareholders, each with a fundamental role in terms of sustainable growth for our group and the entire ecosystem of stakeholders with which the group has the honor of collaborating and with whom we will reach new and challenging goals."

STOCK GRANT PLAN 2020-2022

With reference to the "Stock Grant Plan 2020-2022" (the "Plan") approved by the Shareholders' Meeting on February 14, 2020, the Board of Directors also today verified the achievement of the objectives relating to the year 2021 (for a complete representation of the objectives of the Plan, please refer to the explanatory report on the items on the agenda of the shareholders' meeting of 14/15 February 2020). In particular, the administrative body verified that the objective linked to the cumulative adjusted EBITDA value of the Group in the two-year period 2020-2021 (the "Ebitda Portion") was only partially achieved and, therefore, resolved the assignment to free title to Dr. Silvio Cosoleto for 415,335 newly issued Relatech shares deriving from the capital increase to service the Plan approved by the Shareholders' Meeting on February 14, 2020.

In this regard, it should be noted that given the partial achievement of the objective linked to the Ebitda Portion, the Board of Directors also verified that the Plan must be considered concluded. On the new shares that will be issued for the benefit of Dr. Cosoleto is expected to apply a lock-up constraint of 24 months from the assignment date.

The share capital of Relatech will therefore be increased free of charge through the use of reserves for a total of Euro 4,153.35 from Euro 210,926.24 to Euro 215,079.59 and divided into a total of no. 43,352,973 ordinary shares with no par value.

The Company will publish the notice of change in the share capital following the filing of the execution of the capital increase with the competent Register of Companies within the terms of the law.

This press release is online at www.relatech.com (Investor Relations/Press Release section) .

***

Relatech (ticker RLT ISINIT0005433740), Digital Enabler Solution Know-how (DESK) Company, listed on Euronext Growth Milan since June 2019, is present on the market with innovative solutions dedicated to the digital transformation of companies. Relatech is an innovative SME focused on customers looking for the most innovative solutions, becoming a strategic partner for digitization and ICT services. Relatech constantly invests in Open innovation with an extensive R&D activity carried out internally and numerous partnerships with the main Italian Universities and research centers. Thanks to its digital platform and cloud based RePlatform, it provides services and develops innovative digital solutions in frontier technologies of Digital Enabler, such as Cloud, Cybersecurity, Blockchain, Big Data, Machine Learning, Artificial Intelligence, Internet of Things.

Contacts

ISSUER Relatech S.p.A. - Investor Relations Gianluca Rossi | investor@relatech.com | T: +39 02 2404909 | Via Ercole Marelli, 165 - 20099 Sesto San Giovanni (MI)

EGA & SPECIALIST BPER Banca S.p.A. | relatech@bper.it | T: +39 02 7274 9229 | Via Gaetano Negri, 10 - 20123 Milan

INVESTOR & MEDIA RELATIONS ADVISOR IR Top Consulting | ir@irtop.com | T: + 39 02 4547 3883/4 | Via Bigli, 19 - 20121 Milano