Trevi Fin Industriale

Foreign Filer Report • Feb 29, 2020

Informazione Regolamentata n. 0262-13-2020		Data/Ora Ricezione 29 Febbraio 2020 12:37:30	MTA
Societa'	:	TREVI GROUP
Identificativo Informazione Regolamentata	:	128140
Nome utilizzatore	:	TREVIN04 - Sala
Tipologia	:	REGEM
Data/Ora Ricezione	:	29 Febbraio 2020 12:37:30
Data/Ora Inizio Diffusione presunta	:	29 Febbraio 2020 12:37:31
Oggetto	:	PURSUANT TO ART. 114 OF THE LEGISLATIVE DECREE No. 58/98	INFORMATION REQUIRED BY CONSOB
Testo del comunicato

Vedi allegato.

INFORMATION REQUIRED BY CONSOB PURSUANT TO ART. 114 OF THE LEGISLATIVE DECREE No. 58/98

Cesena, February 29, 2020 – Trevi - Finanziaria Industriale S.p.A. (the "Company"), as requested by Consob on December 10, 2018 pursuant to art. 114 of the Legislative Decree No. 58/98, communicates, at the end of every month, the following updated information at the end of the previous month:

• a) the Company and the Group's net financial position, with separate disclosure of the short-term position and the medium/long-term position;
• b) the Company and the Group's overdue payables, analised by nature (financial, trade, tax, social security and employees) and any related creditors' reaction initiatives (payment reminders, injunctions, suspensions of supplies, etc.);
• c) the Company and the Group's main variations in the transactions with related parties compared to the approved last annual or semi-annual financial report pursuant to Art.154-ter of TUF;

The following is the above additional information requested.

a) The Company and the Group Net Financial Debt at January 31, 2020.

The Net Financial Position of the Company at January 31, 2020 amounts to Euro 408,3 million and is shown below:

NET FINANCIAL DEBT	31/01/2020	30/06/2019	Variation
Current bank loans and borrowings	(395.370)	(441.359)	45.989
Current loans and borrowings from other financial backers	(111.234)	(44.918)	(66.316)
Current financial derivatives	(129)	(237)	108
Short-term cash and cash equivalents	15.498	922	14.576
Total current financial debt	(491.235)	(485.592)	(5.643)
Non-current bank loans and borrowings	0	0	0
Non-current loans and borrowings from other financial backers	(215)	(339)	124
Non-current financial receivables from subsidiaries	83.183	86.949	(3.766)
Non-current financial derivatives	0	0	0
Total non-current financial debt	82.968	86.610	(3.642)
Net financial debt	(408.267)	(398.982)	(9.285)

The Net Financial Debt of the financial statements of Trevi Finanziaria Industriale SpA at June 30, 2019 and January 31, 2020 includes the partial write-down of intercompany financial receivables; this effect in the consolidated Net Financial Debt does not generate any impact.

The Group Net Financial Debt at January 31, 2020 amounts to Euro 741,3 million and is reported below:

CONSOLIDATED NET FINACIAL DEBT	31/01/2020	30/06/2019	Variation
Current bank loans and borrowings	(634.253)	(665.271)	31.018
Current loans and borrowings from other financial backers	(163.790)	(105.144)	(58.646)
Current financial derivatives	(132)	(246)	114
Short-term cash and cash equivalents	79.311	77.747	1.564
Total current financial debt	(718.863)	(692.914)	(25.949)
Non-current bank loans and borrowings	0	(451)	451
Non-current loans and borrowings from other financial
backers	(22.399)	(42.869)	20.471
Non-current financial derivatives	0	0	0
Total non-current financial debt	(22.399)	(43.321)	20.922
Group Net Financial Debt	(741.262)	(736.235)	(5.027)

b) The following are the Company and the Group's overdue payables analised by nature (financial, trade, tax, social security and employees) and any related creditors' reaction initiatives (payment reminders, injunctions, suspensions of supplies, etc.).

	Trevi Finanziaria Industriale S.p.A.	Trevi Group
in thousands of Euro	31/01/2020	31/01/2020
Financial liabilities*	384.565	531.379 (**)
Trade payables	17.725	96.205 (**)
Tax liabilities		448
Social security liabilities		178
Payables to employees		-
Total overdue liabilities	402.290	628.211 (**)

* Related to short and medium to long term debt expired and not repaid in the light of the de facto standstill situation.

** Also including the Company debt, and indicated with the same perimeter

At January 31, 2020 the creditors' reaction initiatives can be summarized as follows:

• in relation to Trevi Finanziaria Industriale S.p.A., there are no situations of shortage of supplies;
• in relation to the Trevi Group, there are no situations of shortage of supplies. Some reminders and injunctions have been received from suppliers in relation to commercial relationships. The aggregate value of these positions is approximately Euro 4.2 million, of which approximately Euro 2.1 million have been settled and approximately Euro 2.1 million for which the defintion is ongoing.

c) The following are the main variations occurred in the relations with the Company and the Group related parties with respect to the last half-year financial report:

(In thousands of Euro)
Non-current financial receivables from subsidiaries	31/01/2020	30/06/2019	Variation
Trevi S.p.A.	23.605	23.605	0
Soilmec S.p.A.	57.242	57.156	86
Drillmec S.p.A.	1.000	0	1.000
Petreven S.p.A.	0	0	0
Other	6.655	6.615	40
TOTAL	88.502	87.376	1.126
Non-current financial payables from subsidiaries	31/01/2020	30/06/2019	Variation
Trevi S.p.A.	976	427	549
Altri	4.343		4.343
TOTALE	5.319	427	4.892

Trevi-Finanziaria Industriale S.p.A.:

Current trade receivables from subsidiaries	31/01/2020	30/06/2019	Variation
Trevi S.p.A.	17.028	14.224	2.804
Soilmec S.p.A.	9.039	6.897	2.142
Drillmec S.p.A.	0	18.386	(18.386)
Petreven S.p.A.	0	3.882	(3.882)
Other	15.782	22.993	(7.211)
TOTAL	41.849	66.382	(24.533)
Current trade payables to subsidiaries	31/01/2020	30/06/2019	Variation
Trevi S.p.A.	12.733	12.484	249
Soilmec S.p.A.	2.576	2.146	430
Drillmec S.p.A.	0	14.631	(14.631)
Petreven S.p.A.	0	141	(141)
Other	4.442	4.385	56

Revenues from sales and services	31/01/2020	30/06/2019	Variation
Trevi S.p.A.	43	4.047	(4.004)
Soilmec S.p.A.	0	1.903	(1.903)
Drillmec S.p.A.	0	1.634	(1.634)
Petreven S.p.A.	0	360	(360)
Other	479	5.611	(5.133)
TOTAL	521	13.556	(13.034)

Consumption of raw materials and external services	31/01/2020	30/06/2019	Variation
Trevi S.p.A.	0	13	(13)
Soilmec S.p.A.	1	0	1
Drillmec S.p.A.	0	0	0
Petreven S.p.A.	0	0	0
Other	0	0	(0)
TOTAL	1	13	(12)
Financial income	31/01/2020	30/06/2019	Variation
Trevi S.p.A.	79	471	(391)
Soilmec S.p.A.	211	1.259	(1.048)
Drillmec S.p.A.	0	2.128	(2.128)
Petreven S.p.A.	0	1.002	(1.002)
Other	22	129	(107)
TOTAL	312	4.988	(4.675)

Trevi Group

(In thousands of Euro)

Non-current financial receivables	31/01/2020	30/06/2019	Variation
Porto Messina S.c.a.r.l.	720	720	0
Filippella s.c.a.r.l.	267	225	42
Pescara Park S.r.l.	637	515	122
Other	140	310	(170)
TOTAL	1.764	1.769	(6)

Trade receivables and other current assets	31/01/2020	30/06/2019	Variation
Parcheggi S.p.A.	70	75	(5)
Roma Park S.r.l.	634	634	0
Sofitre S.r.l.	1.371	1.363	7
Other	21	29	(8)
Sub-total	2.096	2.101	(5)
Porto di Messina S.c.a.r.l.	794	793	0
Consorzio Trevi Adanti	7	7	0
Nuova Darsena S.c.a.r.l.	822	1.170	(347)
Trevi S.G.F. Inc. per Napoli	1.860	1.857	3
Trevi Nicholson JV	2.370		2.370
Sep Sefi Trevi	5.668	5.536	133
Gemac Srl	1.526		1.526
Other	301	780	(479)
Sub-total	13.349	10.142	3.206
TOTAL	15.444	12.243	3.201

Trade payables and other current liabilities	31/01/2020	30/06/2019	Variation
Parcheggi S.p.A.	1	0	1
IFC Ltd	139	130	8
Sofitre S.r.l.	0	(5)	5
Sub-total	139	126	14
Trevi Adanti	9	8	1
Nuova Darsena S.c.a.r.l.	0	0	0
Porto di Messina S.c.a.rl.	395	386	9
Trevi S.G.F. Inc. per Napoli	43	32	11
Sep Sefi Trevi	695	1.664	(970)
Other	719	684	35
Sub-total	1.860	2.774	(914)
TOTAL	2.000	2.899	(900)

Revenues from sales and services	31/01/2020	30/06/2019	Variation
Roma Park S.r.l.	0	0	0
Parcheggi S.p.A.	7	106	(99)
Sofitre S.r.l.	0	0	0
Sub-total	7	106	(99)
Hercules Foundation AB	0	438	(438)
Nuova Darsena S.c.a.r.l.	0	625	(625)
Sep Sefi-Trevi	169	3.957	(3.788)
Trevi Nicholson JV	0	0	0
Other	636	1	635
Sub-totale	805	5.021	(4.216)
TOTAL	812	5.127	(4.315)
Consumption of raw materials and external services	31/01/2020	30/06/2019	Variation
Roma Park S.r.l.	0	0	0
Sofitre S.r.l.	0	21	(21)
Parcheggi S.pA.	0	0	0
Sub-total	0	21	(21)
Nuova Darsena S.c.a.r.l.	0	53	(53)
Sep Sefi-Trevi	0	2.706	(2.706)
Gemac Srl	2	0	2
Other	0	0	0
Sub-total	2	2.759	(2.757)
TOTAL	2	2.780	(2.778)

***

The C.F.O., Massimo Sala, in his position as the Director responsible for drawing up the Company's accounting statements, hereby declares, pursuant to Article 154-bis, paragraph 2 of the Consolidated Law on Finance, that the information contained in this press release accurately represents the figures contained in the Company's accounting records.

This press release contains forward-looking statements. These statements are based on the current estimates and projections of the Group, relating to future events and, by their nature, are subject to an intrinsic component of risk and uncertainty. Actual results may differ materially from those contained in such statements due to a variety of factors, including continued volatility and further deterioration of capital and financial markets, changes in macroeconomic conditions and economic growth and other changes in business conditions, in addition to other factors, the majority of which is beyond the control of the Group.

About Trevi:

Trevi Group is a worldwide leader in the field of soil engineering (special foundations, tunnel excavation, soil consolidation and the building and marketing of special rigs and equipment relevant to this engineering sector); the Group is also active in the drilling sector (oil, gas and water) both in the production of plant and the supply of services, and it also builds automated underground car parks. The Group was established in Cesena in 1957 and today has more than 30 branches and is present in over 80 countries. Its success is due to the vertical integration of the main divisions making up the Group: Trevi, the division that supplies special services in the field of soil engineering, Petreven, the oil drilling division of the Group, Soilmec, the division that produces and develops plant and machinery for soil engineering and Drillmec the division that produces and develops drilling rigs (oil, gas and water). The parent company has been listed on the Milan stock exchange since July 1999.

For further information:

Investor Relations: Massimo Sala – e-mail: investorrelations@trevifin.com Group Communications Officer: Franco Cicognani - e-mail: fcicognani@trevifin.com – tel: +39/0547 319503 Press Office: Community - Strategic communication advisers – T. +39 02 89404231 Auro Palomba - Auro.palomba@communitygroup.it Roberto Patriarca – (T. +39 335 65 09568) - Roberto.patriarca@communitygroup.