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Revo Insurance — Earnings Release 2021
Jul 16, 2021
4376_10-q_2021-07-16_da60a553-4d66-4b44-b28e-56deb159722c.pdf
Earnings Release
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PRESS RELEASE
REVO: APPROVED HALF-YEAR 2021 FINANCIAL REPORT
Milan, 16th July 2021
The Board of Directors of REVO S.p.A. on 15th July 2021, headed by Claudio Costamagna, has examined and approved the half-year 2021 financial report.
The summary balance sheet and profit and loss account are the following:
BALANCE SHEET
| ASSETS | 30/06/2021 |
|---|---|
| A) SHARE CAPITAL PROCEEDS TO BE RECEIVED | |
| Total share capital proceeds to be received | 0 |
| B) FIXED ASSETS | |
| Total intangible fixed assets | 2.239 |
| Total fixed assets | 2.239 |
| C) CURRENT ASSETS | |
| Total tax receivables | 180.000 |
| Total liquid funds | 226.572.055 |
| Total current assets | 226.752.055 |
| D) PREPAYMENTS AND ACCRUED INCOME | |
| Total prepayments and accrued income | 0 |
| TOTAL ASSETS | 226.754.294 |
| LIABILITIES | 30/06/2021 |
|---|---|
| A) NET EQUITY | |
| I - Share capital | 23.055.000 |
| II - Share premium reserve | 207.045.000 |
| IX - Net profit for the year | -3.638.520 |
| Total net equity | 226.461.480 |
| B) PROVISIONS FOR RISKS AND CHARGES | |
| Total provisions for risks and charges | 0 |
| C) EMPLOYEES' LEAVING ENTITLEMENT | |
| Total employees' leaving entitlement | 1.133 |
| D) PAYABLES | |
| Total payables to other lenders | 1.091 |
| Total trade payables | 211.484 |
| Total tax payables | 32.748 |
| Total social security charges payable | 12.396 |
| Total other payables | 33.962 |
| Total payables | 291.681 |
| E) ACCRUED EXPENSES AND DEFERRED INCOME | |
| Total accrued expenses and deferred income | 0 |
| TOTAL LIABILITIES | 226.754.294 |
PROFIT AND LOSS ACCOUNT FROM 4/03/2021 TO 30/06/2021
| 30/06/2021 | |
|---|---|
| A) PRODUCTION REVENUES: | |
| Total production revenues | 180.001 |
| B) PRODUCTION COST: | |
| 7) Services | 3.667.925 |
| 8) Use of third party assets | 4.107 |
| Total personnel expenses | 62.124 |
| Total amortisation, depreciation and write-downs | 249 |
| 14) Other operating costs | 1.607 |
| Total production cost | 3.736.012 |
| Operating profit (A-B) | -3.556.011 |
| C) FINANCIAL INCOME AND CHARGES | |
| Total financial income and charges (C) (15+16-17+-17-bis) | -82.509 |
| D) ADJUSTMENTS TO FINANCIAL ASSETS | |
| Total adjustments to financial assets (18-19) | 0 |
| Pre-tax profit (A-B+-C+-D) | -3.638.520 |
| 21) NET PROFIT FOR THE YEAR | -3.638.520 |
This press release is available on websites www.revo-spac.com and
For more information please contact the following:
Investor Relations Manager Jacopo Tanaglia Tel. 045 - 8531662 e-mail: [email protected]
REVO S.p.A. Equita SIM S.p.A.
NomAd e Specialista Via Turati 9, 20121, Milano Tel.: 02 62041 e-mail: [email protected]
Media Relation
Incontra - Studio Cisnetto Enrico Cisnetto / Gianluca Colace / Massimo Pittarello Tel.: 06 - 4740739
* * *
REVO (www.revo-spac.com) is a Special Purpose Acquisition Company (SPAC) promoted by Alberto Minali, Claudio Costamagna, Stefano Semolini, Simone Lazzaro and Jacopo Tanaglia. REVO's objective is to create a leading insurance company focused on specialty lines and parametric risks cover, primarily dedicated to SMEs. Achieving a Business Combination with a European player in this segment will enable REVO to start integrating a number of underwriters and MGAs in the specialty lines segment and developing the parametric business. REVO will have a lean structure and will employ cutting-edge technology to optimize and streamline both underwriting and claims management processes, including via the use of blockchain-based technologies.
REVO S.p.A.