EQS-News: Communications pursuant to Article 12 (viii)(b) of the Terms and Conditions of the «Fonderie Mario Mazzucconi S.p.A. - Tasso Fisso - 2018 / 2024» bonds ISIN: IT0005320756

EQS-News: Fonderie Mario Mazzucconi S.p.A. / Key word(s): Half Year
   Results/Half Year Results
   Communications pursuant to Article 12 (viii)(b) of the Terms and
   Conditions of the «Fonderie Mario Mazzucconi S.p.A. - Tasso Fisso - 2018 /
   2024» bonds ISIN: IT0005320756

   31.10.2023 / 14:26 CET/CEST
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   Ponte San Pietro (Bg), 30^th October 2023

   Communications pursuant to Article 12 (viii)(b) of the Terms and
   Conditions of the

   «Fonderie Mario Mazzucconi S.p.A. - Tasso Fisso - 2018 / 2024» bonds

   ISIN: IT0005320756

   Pursuant to Article 12 (viii)(b) of the Terms and Conditions (“T&C”) of
   the Fonderie Mario Mazzucconi S.p.A. ‐ Tasso Fisso ‐ 2018 / 2024 bonds
   (ISIN: IT0005320756) issued by Fonderie Mario Mazzucconi S.p.A. (“FMM” or
   the “Issuer”),  please find below the half‐year main data relating to the
   income statement and balance sheet of the Issuer on individual basis and
   of the Maberfin Group on a consolidated basis, updated as at June 30^th,
   2023 ([1][1]).

         FMM Income Statement          Maberfin Group Consolidated Income
               H1 2023                              Statement
                                                     H1 2023
   Value of Production 129,44 MIn €   Value of Production     121,34 MIn  €
       Ebitda Adj.     4,04 MIn  €        Ebitda Adj.          12,19 MIn  €
         Ebitda        3,63 MIn  €           Ebitda            11,69 MIn  €
          Ebit         1,82 MIn  €            Ebit             3,78 MIn  €

   ***

   FMM Main Balance Sheet IndicatorsH1   Maberfin Group Main Balance Sheet
                  2023                               Indicators
                                                      H1 2023
   Equity                 32,31 MIn  € Equity                    39,59 MIn  €
   Net Financial Position 55,22 MIn  € Net Financial Position    74,21 MIn  €

     ***

   The performance of the Group in the first half of the current year
   confirms the improvements achieved already in the last quarter of 2022.
   The Value of Production (VdP) of the first 6 months is in line with the
   budget. The stability of orders from customers has allowed for more
   regular and orderly production planning, with consequent positive effects
   on productivity and efficiency ratios.

   The turnover from sales in the first half of 2023 amounted to €112.7
   million, substantially in line with budget, considering the reduction in
   the value of raw materials - aluminum and alloys - incorporated in the
   price lists agreed with customers and almost totally indexed in the sales
   prices.

   The consolidated Adjusted Ebitda was equal to Euro 12.18 million (9.9% on
   the VdP - an important improvement compared to 6.2% in the previous year)
   and the net Ebitda was equal to Euro 11.69 million (9.50% on the VdP) both
   with improvements compared to the budget.

   Fixed costs, structure and general expenses, were almost in line with
   forecasts.

   Depreciation was calculated also considering the greater value attributed
   to some fixed assets following the revaluation carried out in the 2020
   financial year, for which the corresponding deferred taxes were released.

   Financial charges were higher than the forecast budget, due to the
   increase in inflation and consequently the Euribor rate, and amounted to
   approximately €2.49 million in the half-year.

   It is confirmed that the Mazzucconi Group is always interested in various
   development and related activities for new recently acquired projects,
   also for new important customers and destinated for high standing European
   producers, some of which with production start-up expected during 2023 and
   others that will go into production in the next few years, all of which
   will have a multi-year duration.

   In the first half of 2023, investments of approximately €3.5 million were
   acquired and realized in line with the provisions of the multi-year
   industrial plan.

   Inventories increased compared to 31 December 2022 (from €34.6 million to
   €38 million) both due to the higher inventories of products at 30 June
   2023, in view of the preparation of an adequate level of stocks for the
   sales of the month of August when our production will be substantially
   stopped for the August holidays, and for the increase recorded in the
   value of equipment to be resold to costumers, connected to the development
   and start-up of everything necessary for putting the new orders into
   production previously mentioned.

   Receivables from customers as of 30 June 2023 decreased slightly compared
   to the end of 2022 (from €20.1 million to €18.8 million), as did payables
   to suppliers (from €30.8 million to €26.9 million).

   Payables for staff as of 30 June, as usual, are higher than the
   end-of-year values due to the accrual of accruals and related
   contributions for additional months (13th and 14th to be paid
   subsequently) and for accrued holidays which they will be used especially
   in summer and during the end-of-year holidays.

   Tax credits dropped significantly, since during the first half of the year
   the energy tax credits accrued up to the first quarter of 2023 were used
   and those accrued in the second quarter of 2023 were postponed to the
   second half (i.e. calculated with a much higher rate lower than that
   established for the end of 2022 and the beginning of 2023).

   From a financial point of view, the use of short-term commercial lines
   (approximately €13.9 million) is in line with the values of the previous
   year.

   The repayment of bank loans is in line with the provisions of the
   respective plans. In the first half of the year, mortgages capital over
   €5.1 million were repaid, of which approximately 600 thousand euros for
   mortgage loans and over €4.5 million for mortgages guaranteed by SACE and
   MCC. It should be noted that, in accordance with the Italian legislative
   provisions connected with the so-called “DL Aiuti-bis”, in January 2023
   the FMM company obtained two loans of €5 million each, with SACE guarantee
   and with a duration of 6 years, one of which is pre-amortisation.

   In the first half of 2023, installments relating to specific financing
   contracts with supplier counterparties and leasing installments were paid
   for approximately 500 thousand euros.

   As planned by the new amortization plan of the Bond, the two principal
   installments of €2.25 million each were repaid to 31 March and 30 June
   2023 respectively. This debt now amounts to €6 million (i.e. at the time
   of issue in 2018 it amounted to €15 million). The interest coupons accrued
   on the aforementioned BOND were regularly paid as of 30 June 2023 for €323
   thousand.

   The Net Financial Position improved from €80 million at 31 December 2022
   to approximately €74 million at 30 June 2023, in line with the Group's
   Industrial Plan.

    

   _________________

   Corporate details:

   Edoardo Locatelli – Chief Financial Officer

   Email: [2][email protected]

   Internet website: [3]www.mazzucconi.com  

   [4]^[1] Terms not otherwise defined herein shall have the same meaning
   given in the T&C.

   ══════════════════════════════════════════════════════════════════════════

   31.10.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
   www.eqs.com

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     Fonderie Mario Mazzucconi S.p.A.
                Via Mazzini n.10
                24036 Ponte San Pietro (BG)
                Italy
   Phone:       +390354551211
   E-mail:      [email protected]
   Internet:    http://www.mazzucconi.com/
   ISIN:        IT0005320756
   WKN:         A19WNQ
   Listed:      Vienna Stock Exchange (Vienna MTF)
   EQS News ID: 1761823


    
   End of News EQS News Service


   1761823  31.10.2023 CET/CEST

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