cir.mi - CIR s.p.a Compagnie Industriale Riunite

Discussion in 'International Stock Markets' started by Marvan, Apr 23, 2020.

  1. Marvan

    Marvan Well-Known Member

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    CIR S.p.A. Compagnie Industriali Riunite, through its subsidiaries, primarily operates in the automotive components and healthcare sectors.

    It offers suspension components, filters, and air and cooling systems to car manufacturers; and operates nursing homes under the Anni Azzurri brand, as well as functional and psychiatric rehabilitation units under the Santo Stefano and Neomesia brands.

    The company also provides medical services, such as oncology treatment, diagnostics, and hospital management under the Medipass brand, as well as manages Fratelli Montecchi hospital in Suzzara, Italy. In addition, it publishes la Repubblica, a national daily newspaper; 14 local daily newspapers; and L'Espresso, a weekly magazine.

    Further, the company broadcasts three national radio stations, including Radio Deejay; and provides Internet and advertising services. The company is based in Milan, Italy.

    https://www.cirgroup.it/en/home/
     
    #1 Marvan, Apr 23, 2020
    Last edited: Apr 23, 2020
  2. Marvan

    Marvan Well-Known Member

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    Sogefi

    Sogefi Group is a leading global supplier of original parts for the automotive industry, with over 40 years’ experience. Sogefi designs, develops and produces filtration systems and flexible suspension components as well as air management and engine cooling systems.

    Through its strong commitment to research, Sogefi Group continuously improves its components with technological developments across all product sectors, optimising performance in terms of life cycle, effectiveness, size, weight and environmental compatibility.

    https://www.sogefigroup.com/en/index.html
     
  3. Marvan

    Marvan Well-Known Member

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    Kos Group

    Founded in 2003, KOS Group is a leading healthcare group in Italy that operates in the area of social health, residential care for chronic illnesses, rehabilitation and mental health services, and management of medical equipment and diagnostic centres.

    It has 83 dedicated facilities comprising 7900 beds including nursing homes, rehabilitation centres, hospitals and mental health clinics.

    Additionally, the group has an international presence through its diagnostics and cancer care services unit in the UK and India.

    https://www.kosgroup.com/eng/home-en/
     
  4. Marvan

    Marvan Well-Known Member

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    Completion of the sale of the shareholding in GEDI Gruppo Editoriale S.p.A.


    Closing of the sale of 43.78% of the GEDI share capital to Giano Holding S.p.A.

    Milan, April 23 2020 – CIR S.p.A. – Compagnie Industriali Riunite (“CIR”) announces the implementation, on the date hereof, of the agreement dated December 2, 2019, between CIR, on the one part, and EXOR N.V. (“EXOR”), on the other part, for the sale and purchase of all the 222,705,235 ordinary shares in GEDI Gruppo Editoriale S.p.A. (“GEDI”) owned by CIR (the “CIR Shareholding”), equal to 43.78% of the issued capital of GEDI (see the press releases of December 2, 2019 and April 3, 2020).

    More specifically, upon receipt of the necessary regulatory authorizations, the CIR Shareholding was sold today to Giano Holding S.p.A. (“Giano Holding”), a newly established joint stock company (società per azioni) entirely owned by EXOR and designated by the latter as the buyer of the CIR Shareholding, at a price per share equal to € 0.46, for a total amount of € 102.4 million. The main terms and conditions of the transaction were already illustrated in the above-mentioned press releases, to which reference should be made.

    Following the implementation of the purchase of the CIR Shareholding, Giano Holding will launch a mandatory public tender offer (the “Offer”) for the purchase of the outstanding GEDI shares not already held, at the same price per share paid to CIR, therefore at a price per share equal to € 0.46, in accordance with Art. 106, first paragraph, of Legislative Decree no. 58 of February 24 1998, as subsequently amended and supplemented.

    In the context of the sale of the CIR Shareholding, CIR terminated today, by mutual agreement, the shareholders’ agreements related to GEDI, executed on July 30, 2016, respectively with EXOR and Mercurio S.p.A..

    On the date hereof CIR, EXOR and Giano Holding also executed an investment agreement concerning the purchase by CIR, following the completion of the Offer and at the same price of such Offer, of a shareholding in Giano Holding representing, in transparency, 5% of the share capital issued by GEDI.

    Following the implementation of the entry by CIR into the share capital of Giano Holding, a shareholders’ agreement and a put and call agreement executed today by EXOR and CIR will also become effective. The shareholders’ agreement regulates the relationships of the parties as shareholders of Giano Holding, and indirectly of GEDI, and the transfers of Giano Holding shares. The put and call agreement regulates the put option granted to CIR and the call option granted to EXOR in respect of the shareholding held by CIR in Giano Holding; these options will be exercisable as from the third year following the entry by CIR into the share capital of Giano Holding, save for the early termination of the shareholders’ agreement or the occurrence of certain events.

    The contents of the aforesaid agreements, as relevant pursuant to applicable laws, will be published in accordance with and in the manner set forth under the law.

    https://www.cirgroup.it/en/press-re...shareholding-in-gedi-gruppo-editoriale-s-p-a/
     
  5. Marvan

    Marvan Well-Known Member

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  6. Marvan

    Marvan Well-Known Member

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    CIR acquires interest in Giano Holding

    Milan, July 13 2020 – CIR S.p.A. – Compagnie Industriali Riunite has today acquired from EXOR an interest in the share capital of Giano Holding S.p.A., in accordance with what was set out in the investment agreement stipulated on April 23 2020 between CIR, EXOR N.V. and Giano Holding.

    Giano Holding is the company controlled by EXOR, which, after acquiring the controlling interest in GEDI S.p.A. from CIR, launched a mandatory tender offer for the GEDI shares in circulation that it did not already own, at a unit price of € 0.46 per share.

    After the conclusion of the offer and the reinvestment, CIR now holds an interest in the share capital of Giano Holding that represents transparently 5% of GEDI’s capital. The reinvestment was made for consideration of € 11,699,881.04 (corresponding, transparently, to a price of € 0.46 for each GEDI share).

    https://www.cirgroup.it/en/press-releases/cir-acquires-interest-in-giano-holding/
     
  7. Marvan

    Marvan Well-Known Member

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    CIR: results for first half 2020

    Revenues 856.7 million (€ 1.059,1 million in first half 2019)

    EBITDA: € 103.8 million (€ 140.0 million in first half 2019)

    EBIT: -€ 8.3 million (€ 46.0 million in first half 2019)

    Net result: -€ 30.4 million

    Net financial position of the parent company at € 397.1 million, higher than at December 31 2019 (€ 295.7 million)

    https://www.cirgroup.it/en/press-releases/cir-results-for-first-half-2020/
     
  8. Marvan

    Marvan Well-Known Member

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    July 23 2021 - 16:24 CEST

    Sogefi: results for first half 2021

    RESULTS SHOW STRONG GROWTH IN FIRST HALF OF 2021


    Revenues rise significantly to € 682.5 million (+38.5% at constant exchange rates) outperforming the market in all geographical areas

    EBITDA at 16.1% of revenues, up from H1 2020 (10.3%) and H1 2019 (11.7%)

    Net income at € 21.4 million after a loss in H1 2020 (€ -28.8 million) and higher than in H1 2019 (€ 6.9 million)

    Free Cash Flow positive for € 33.1 million compared to absorption of € 64.0 million in H1 2020 and € 8.8 million in H1 2019

    https://www.cirgroup.it/en/press-releases/sogefi-results-for-first-half-2021/
     
  9. Marvan

    Marvan Well-Known Member

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    CIR: results for first half 2021

    In the first half of 2021 business recovered significantly compared to the first half of 2020, although the levels reported before the spread of the pandemic have not yet been reached.

    The Group’s consolidated revenues amounted to € 1,007.9 million, posting a rise of 23.5% on the first half of 2020, during which the effects of the Covid-19 pandemic were particularly significant for all of the group’s businesses. Revenues were in line with those of first half 2019 (+0.4%) but were 8.3% lower on a like-for-like basis.

    The consolidated gross operating margin (EBITDA) came to € 172.3 million (€ 100.1 million in the first half of 2020) which represented 17.1% of revenues, compared to 12.3% in 2020.

    The net result was a positive € 21.6 million (after a loss of € 30.4 million in the first half of 2020).

    Consolidated net debt before IFRS 16 totalled € 41.4 million at June 30 2021, lower than at December 31 2020 (€ 100.0 million) and at June 30 2020 (€ 285.6 million). Financial debt for rights of use, as per IFRS 16, amounted to € 802.3 million and thus total consolidated net deb came to € 843.7 million. IFRS16 liabilities refer mainly to the subsidiary KOS (€ 736.4 million), which operates principally in leased premises.

    The net debt of the subsidiaries before IFRS 16 declined to € 446.4 million (€ 491.7 million at December 31 2020 and € 682.8 million at June 30 2020).

    The net financial position of the Parent Company (including the subsidiaries devoted to financial management) was a positive € 405.0 million at June 30 2021, higher than at December 31 2020 (€ 391.7 million) and at June 30 2020 (€ 397.2 million).

    The Group’s equity stood at € 801.4 million (€ 771.0 million at December 31 2020) and the increase was mainly due to the net income for the period.

    https://www.cirgroup.it/en/press-releases/cir-results-for-first-half-2021/
     
  10. Marvan

    Marvan Well-Known Member

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    Sogefi: results higher in first nine months of 2021

    Revenues at € 990.0 million: up by 20.9% at constant exchange rates on 9M 2020
    Better performance than the market in all geographical areas


    EBITDA margin at 14.6% of revenues higher than in first 9M of 2020 (11.8%) and 2019 (12.1%)

    Net income from continuing operations € 24.3 million (loss of € 15.6 million in 9M 2020 and earnings of € 14.9 million in 9M 2019)

    Positive Free Cash Flow of € 25.1 million (negative for € 55.6 million in 9M 2020 and for € 4.2 million in 9M 2019)


    https://www.cirgroup.it/en/press-releases/sogefi-results-higher-in-first-nine-months-of-2021/
     
  11. Marvan

    Marvan Well-Known Member

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