Informazione Regolamentata n. 0262-62-2020		Data/Ora Ricezione 30 Settembre 2020 21:58:51	MTA
Societa'	:	TREVI GROUP
Identificativo Informazione Regolamentata	:	137567
Nome utilizzatore	:	TREVIN04 - Sala
Tipologia	:	REGEM
Data/Ora Ricezione	:	30 Settembre 2020 21:58:51
Data/Ora Inizio Diffusione presunta	:	30 Settembre 2020 21:58:52
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, September 30, 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 August 31, 2020.

The Net Financial Position of the Company at August 31, 2020 amounts to Euro 78,9 million and is shown below:

NET FINANCIAL DEBT	31/08/2020	30/06/2020	Variation
Current bank loans and borrowings	(12.451)	(13.855)	1.404
Current loans and borrowings from other financial creditors	(7.652)	(18.020)	10.368
Current financial receivables (payables) from subsidiaries	54.392	54.134	258
Current financial derivatives	0	0	0
Current financial assets	0	0	0
Short-term cash and cash equivalents	17.924	42.642	(24.718)
Total current financial debt	52.213	64.900	(12.687)

Non-current bank loans and borrowings	(117.628)	(116.610)	(1.018)
Non-current loans and borrowings from other financial creditors	(40.940)	(40.939)	(1)
Non-current financial payables from subsidiaries	0	0	0
Non-current financial derivatives	0	0	0
Total non-current financial debt	(158.568)	(157.549)	(1.019)
Net financial debt	(106.355)	(92.649)	(13.706)
(Consob DEM/6064293 of 28/07/2006)
Other non current financial assets	27.422	24.894	2.528
Total Net financial position	(78.933)	(67.755)	(11.178)

On May 29th the capital increase of Trevi – Finanziaria Industriale S.p.A. has been successfully completed ("Trevifin" or the "Company") in the context of which n. 15,083,921,496 of the Company, have been subscribed for a total value of Euro 150,839,214.96.

In detail:

the tranche of capital increase offered as an option to shareholders was fully subscribed for Euro 130,001,189.07, of which Euro 87,701,972.96 by payment of money and Euro 42,299,216.02 with the conversion by the main credit financing banks financial claims against the Company, according to a conversion ratio of 4.5: 1 and
the tranche of capital increase reserved for lending banks, with the exclusion of the right to option, was subscribed for Euro 20,838,025.89 through the conversion of financial credits claimed by the banks themselves towards the Company, according to the same ratio of conversion equal to 4.5: 1.

In the context of the overall financial restructuring plan, the financial indebtedness of Trevifin, as well as of the subsidiaries of Trevi S.p.A. and Soilmec S.p.A. has been consolidated and rescheduled for the majority until December 2024 and the interest rate of the same has been reduced. The accounting standard IFRS 9 has been applied on the residual portion of the financial indebtedness following the capital increase through the conversion of financial credits of the financing banks for a total amount of Euro 284 million, as well as following the repayment provided by the financial restructuring plan.

The main changes in the Net Financial Position as of August 31st, 2020 compared to June 30th, 2020 are due to the payments of trade payables to suppliers of goods and services and the payments of financial liabilities to leasing companies. As a consequence, cash decreased by around Euro 41 million.

The Net Financial Debt of the financial statements of Trevi Finanziaria Industriale SpA at June 30, 2020 and August 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 Augus 31, 2020 amounts to Euro 280 million and is reported below:

CONSOLIDATED NET FINACIAL DEBT	31/08/2020	30/06/2020	Variation

Current bank loans and borrowings	(83.902)	(56.358)	(27.544)
Current loans and borrowings from other financial creditors	(21.875)	(35.345)	13.470
Current financial derivatives	0	0	0
Current financial assets	0	2.526	(2.526)
Short-term cash and cash equivalents	64.015	105.107	(41.091)
Total current financial debt	(41.762)	15.929	(57.691)

Non-current bank loans and borrowings	(178.820)	(209.445)	30.625
Non-current loans and borrowings from other financial
creditors	(70.918)	(69.056)	(1.862)
Non-current financial derivatives	0	0	0
Total non-current financial debt	(249.738)	(278.501)	28.762

Net financial debt (Consob DEM/6064293 of 28/07/2006)	(291.500)	(262.571)	(28.928)
Other non current financial assets	11.488	11.512	(24)
Total Net financial position	(280.012)	(251.059)	(28.952)

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	31/08/2020	31/08/2020
Financial liabilities	338	7.667 (**)
Trade payables	5.860	46.746 (**)
Tax liabilities		72
Social security liabilities		310
Payables to employees		-
Total overdue liabilities	6.198	54.795 (**)

** Also including the Company debt, the figure refers to the foundations sector

As of August 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 2.6 million, of which approximately Euro 1.9 million have been settled and approximately Euro 0.7 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	31/08/2020	30/06/2020	Variation
Trevi S.p.A.	23.883	23.883	0
Soilmec S.p.A.	50.148	47.647	2.501
Other	1.730	1.730	0
TOTAL	75.761	73.260	2.501

Non-current financial payables from subsidiaries	31/08/2020	30/06/2020	Variation
Trevi S.p.A.	0	0	0
Altri	4.029	4.287	(258)
TOTALE	4.029	4.287	(258)
Current trade receivables from subsidiaries	31/08/2020	30/06/2020	Variation
Trevi S.p.A.	22.569	22.318	251
Soilmec S.p.A.	10.992	10.925	67
Other	16.039	16.544	(504)
TOTAL	49.601	49.787	(186)

Trevi-Finanziaria Industriale S.p.A.:

Current trade payables to subsidiaries	31/08/2020	30/06/2020	Variation
Trevi S.p.A.	12.922	14.045	(1.123)
Soilmec S.p.A.	6.035	6.035	0
Other	4.428	5.332	(904)
TOTAL	23.385	25.412	(2.027)

Revenues from sales and services	31/08/2020	30/06/2020	Variation
Trevi S.p.A.	4.416	4.172	244
Soilmec S.p.A.	1.513	1.453	60
Other	2.855	3.129	(274)
TOTAL	8.784	8.755	29

Consumption of raw materials and external services	31/08/2020	30/06/2020	Variation
Trevi S.p.A.	60	60	0
Soilmec S.p.A.	112	161	(49)
Other	0	15	(15)
TOTAL	172	236	(64)
Financial income	31/08/2020	30/06/2020	Variation
Trevi S.p.A.	447	447	(0)
Soilmec S.p.A.	1.076	1.076	(0)

Other	122	122	(0)
TOTAL	1.644	1.645	(1)

Financial expense	31/08/2020	30/06/2020	Variation
Trevi S.p.A.	16	18	(1)
TOTAL	16	18	(1)

Trevi Group

(In thousands of Euro)

Non-current financial receivables	31/08/2020	30/06/2020	Variation
Porto Messina S.c.a.r.l.	721	721	0
Pescara Park S.r.l.	643	633	10
Other	42	0	42
TOTAL	1.406	1.354	53

Trade receivables and other current assets	31/08/2020	30/06/2020	Variation
Parcheggi S.p.A.	56	51	5
Roma Park S.r.l.	634	634	(0)
Sofitre S.r.l.	0	8	(8)
Other	21	0	21
Sub-total	711	693	18
Porto di Messina S.c.a.r.l.	809	794	15
Nuova Darsena S.c.a.r.l.	822	822	0
Trevi S.G.F. Inc. per Napoli	1.860	1.860	0
Trevi Nicholson JV	3.531	4.892	(1.361)
Sep Sefi Trevi	3.906	3.904	2
Other	298	346	(48)
Sub-total	11.227	12.618	(1.391)
TOTAL	11.938	13.311	(1.372)

Trade payables and other current liabilities	31/08/2020	30/06/2020	Variation
Parcheggi S.p.A.	1	1	0
I.F.C. L.dt	139	139	(0)
Sofitre S.r.l.	0	103	(103)
Sub-totale	140	242	(103)
Trevi Adanti	7	9	(2)
Porto di Messina S.c.a.rl.	403	403	(0)
Trevi S.G.F. Inc. per Napoli	43	43	(0)
Sep Sefi Trevi	0	0	0
Other	182	721	(539)
Sub-total	563	1.176	(613)
TOTAL	702	1.418	(716)

Revenues from sales and services	31/08/2020	30/06/2020	Variation
I.F.C. S.r.l	0	6	(6)
Parcheggi S.p.A.	57	40	17
Sub-total	57	40	17
Hercules Foundation AB	0	0	0
Nuova Darsena S.c.a.r.l.	0	0	0
Sep Sefi-Trevi	499	499	0
Trevi Nicholson JV	3.507	2.522	985
Other	983	354	629
Sub-totale	4.989	3.375	1.614
TOTAL	5.046	3.415	1.631

Consumption of raw materials and external services	31/08/2020	30/06/2020	Variation
Sofitre S.r.l.	0	49	(49)
Sub-total	0	49	(49)
Nuova Darsena S.c.a.r.l.	13	0	13
Other	2	0	2
Sub-total	15	0	15
TOTAL	15	49	(34)

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 Group:

Trevi Group is a worldwide leader in the field of soil engineering (special foundations, soil consolidation, recovery of polluted sites), in the design and marketing of specialized technologies in the sector and in the construction of automated, underground and multi-storey car parks. The Group was established in Cesena in 1957; it has around 70 companies and, with its dealers and distributors, is present in 90 countries. Internationalization, integration and the continuous exchange between its two divisions are among the reasons for the success of the Trevi Group: Trevi, which carries out special foundations and soil consolidation works for large infrastructure projects (subways, dams, ports and docks, bridges, railway and highway lines, industrial and civil buildings) and Soilmec, which designs, manufactures and markets machinery, systems and services for underground engineering.

The parent company (Trevi – Finanziaria Industriale S.p.A.) has been listed on the Milan stock exchange since July 1999.

For further information:

Investor Relations: Massimo Sala - e-mail: [email protected]

Group Communications Office: Franco Cicognani - e-mail: [email protected] - T. +39 0547 319503

Press Office: Mailander Srl - T. +39 011 5527311

Carlo Dotta – T. +39 3332306748 - [email protected]

Giovanni Santonastaso - T. +39 3480383798 – [email protected]

Federico Unnia - T. +39 3357032646 – [email protected]

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