Aeffe

AGM Information • Apr 12, 2017

Informazione Regolamentata n. 0923-16-2017		Data/Ora Ricezione 12 Aprile 2017 11:43:52	MTA - Star
Societa'	:	AEFFE
Identificativo Informazione Regolamentata	:	87903
Nome utilizzatore	:	AEFFEN02 - Degano
Tipologia	:	IRAG 01
Data/Ora Ricezione	:	12 Aprile 2017 11:43:52
Data/Ora Inizio Diffusione presunta	:	12 Aprile 2017 11:58:53
Oggetto	:	AEFFE Shareholder's Meeting approves Annual Report for 2016
Testo del comunicato

Vedi allegato.

PRESS RELEASE

AEFFE: Ordinary Shareholders' Meeting Approves The Financial Statement For The Year Ended 31st December 2016. Appointment Of The New Board Of Directors And Of The New Board Of Statutory Auditors Of The Company

San Giovanni in Marignano, 12nd April 2017 - The Shareholder's meeting of Aeffe SpA, company listed on the STAR segment of Borsa Italiana, which operates in the luxury sector, with a presence in the prêt-à-porter, footwear and leather goods division under renowned brand names such as Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino, Pollini, Jeremy Scott and Cédric Charlier, has approved today in ordinary session the Financial Statement for the year ended 31st December 2016 in the version submitted by the Board of Directors on 9th March 2017, whose data were released to the market in a special announcement on the same date.

The distribution of dividends is not expected.

During the Shareholders' Meeting Aeffe Group Consolidated Financial Statement for FY 2016 was also presented.

Revenues of the Parent company Aeffe SpA amounted to €145.9 million, up by 6.2% at current exchange rates compared to 2015.

In 2016 Ebitda was equal to €7.5m (with an incidence of 5.1% of consolidated sales), compared to €6.5m in 2015 (4.7% of total sales).

Net Profit amounted to €1.7m, compared to the net profit of €0.9m in 2015.

As of 31st December 2016, net financial debt amounted to €67.3m, compared to €77.1m as of 31st December 2015, with a €9.8m improvement. Shareholders' equity was equal to €136.7m, compared to €135m as of 31st December 2015.

At consolidated level, revenues amounted to €280.7m, compared to €268.8m in 2015 (+4.7% at constant exchange rate and +4.4% at current exchange rate.)

In 2016 Ebitda was equal to €25.2m compared to €19.3m in 2015, with a €5.9m increase (+30%).

Net Profit for the Group amounted to €3.6m, compared to a net profit of €1.5m in 2015, with a €2.1m increase (+139%). As of 31st December 2016, net financial debt was equal to €59.5m, compared to €80.5m as of 31st December 2015, with a €21m improvement (-26%).

***

Appointment of the Board of Directors and of the Board of Statutory Auditors

The Shareholder's meeting, moreover, appointed the Board of Directors and the Board of Statutory Auditors that will remain in office until the date of the Shareholder's meeting called to deliberate on the approval of the 2019 Annual Report.

The appointment of the members of the Board of Directors has carried out on the basis of two different lists:

• the majority list, jointly filed by Fratelli Ferretti Holding S.r.l. and I.M. Fashion S.r.l. (the "Majority List");
• the minority list, jointly filed by Anima SGR SpA (fund manager of: Anima Geo Italia and Anima Italia), Fideuram Asset Management (fund manager of: Fideuram Fund Equity Italy e Fonditalia Equity Italy) and Fideuram Investimenti S.p.A. (fund manager of Fideuram Italia and manager of Interfund Sicav Interfund Equity Italy) (the "Minority List").

The Board of Directors of Aeffe S.p.A. appointed today is composed as follows:

1. Massimo Ferretti – Chairman of the Board of Directors – taken from the Majority List

2. Alberta Ferretti – Director taken from the Majority List

3. Simone Badioli - Director taken from the Majority List

4. Marcello Tassinari - Director taken from the Majority List

5. Roberto Lugano – Director satisfying the independence requirements established by article 148, paragraph 3, of the Consolidated Finance Law (TUF), taken from the Majority List

6. Daniela Saitta – Director satisfying the independence requirements established by article 148, paragraph 3, of the Consolidated Finance Law (TUF), taken from the Majority List

7. Sabrina Borocci - Director satisfying the independence requirements established by article 148, paragraph 3, of the Consolidated Finance Law (TUF), taken from the Majority List

8. Alessandro Bonfiglioli - Director satisfying the independence requirements established by article 148, paragraph 3, of the Consolidated Finance Law (TUF), taken from the Minority List.

The curriculum vitae of each director is available, enclosed to the presentation of the relative list, on Aeffe's website (www.aeffe.com/investor relations/company documents), at the company's office as well as on Borsa Italiana's website.

It is specified that, at today, Mr. Massimo Ferretti owns 60,000 shares of Aeffe S.p.A., Mrs. Alberta Ferretti 40,000 shares and Mr. Simone Badioli 26,565 shares.

The appointment of the members of the Board of Statutory Auditors has carried out on the basis of two different lists:

• the majority list, jointly filed by Fratelli Ferretti Holding S.r.l. and I.M. Fashion S.r.l. (the "Majority List");
• the minority list, jointly filed by Anima SGR SpA (fund manager of: Anima Geo Italia and Anima Italia), Fideuram Asset Management (fund manager of: Fideuram Fund Equity Italy e Fonditalia Equity Italy) and Fideuram Investimenti S.p.A. (fund manager of Fideuram Italia and manager of Interfund Sicav Interfund Equity Italy) (the "Minority List").

The Board of Statutory Auditors of Aeffe S.p.A. appointed today is composed as follows:

Serving statutory auditors:

• 1. Angelo Miglietta Chairman of the Board of Statutory Auditors, taken from the Minority List
• 1. Fernando Ciotti, taken from the Majority List
• 1. Carla Trotti, taken from the Majority List

Alternative statutory auditors:

• 1. Nevio Dalla Valle, taken from the Majority List
• 1. Daniela Elvira Bruno, taken from the Minority List

The curriculum vitae of each member of the Board of Statutory Auditors is available, enclosed to the presentation of the relative list, on Aeffe's website (www.aeffe.com/investor relations/company documents), at the company's office

as well as on Borsa Italiana's website.

***

Other Information

The Shareholders' Meetings gave also a consultative favourable vote on the first section of Compensation Report.

The Company will make available on its website www.aeffe.com, within 5 days of the shareholders meeting date, the summary of the votes of shareholder's meeting.

Finally, the Company will make available, at the company's office and on its website www.aeffe.com, within 5 days of the shareholders meeting date, the minutes of the shareholders meeting pursuant article 2375 of the civil code.

"The executive responsible for preparing the company's accounting documentation Marcello Tassinari declares pursuant to paragraph 2 of art. 154 bis of the Consolidate Financial Law, that the accounting information contained in this document agrees with the underlying documentation, records and accounting entries".

The Annual Financial Statements at 31st December 2015 approved by the Shareholders' Meeting, as well as the Consolidated Financial Statements at 31st December 2015 are available at the Company's offices, at Borsa Italiana SpA and also in the Investor Relations section of the Company's website at the internet address www.aeffe.com.

Contacts: Investor Relations Press Relations AEFFE S.p.A Barabino & Partners Annalisa Aldrovandi Marina Riva +39 0541 965494 +39 02 72023535 annalisa.aldrovandi@aeffe.com m.riva@barabino.it www.aeffe.com