ASTALDI S.P.A. PRESS RELEASE
INFORMATION REQUESTED BY CONSOB PURSUANT TO ARTICLE 114 OF
ITALIAN CONSOLIDATED FINANCE ACT ("TUF")
Rome, 17 May 2021 - At the request of CONSOB1, pursuant to article 114, of the Italian Consolidated Finance Act ("TUF"), Astaldi S.p.A. (hereinafter also "Astaldi", the "Company" or the "Parent") provides the following information.
- Net Financial Position of Astaldi S.p.A. and Astaldi Group at 31 March 2021, with highlighting of short-term items separately from medium/long-term items2
Net Financial Position of Astaldi Group
At 31 March 2021, Astaldi Group recorded Net Financial Position (as per ESMA memorandum dated 10 February 2005) equal to EUR 96.6 million (EUR 266.3 million at 31 December 2020) and Comprehensive Net Financial Position
3 of EUR 147.9 million (EUR 315.8 million at 31 December 2020). A summary of the Group's Net Financial Position is shown below.
Table 1 - Net Financial Position of Astaldi Group at 31 March 2021.
€'/000 | 31/03/2021 | 31/12/2020 | |||
Cash | 313,311 | 500,344 | |||
A | Cash and cash equivalents | 313,311 | 500,344 | ||
Short-term loan assets | 140,198 | 130,120 | |||
B | Current loan assets | 140,198 | 130,120 | ||
C | Short-term loans and borrowings | (30,328) | (30,880) | ||
D | Current portion of non-current debt | (4,911) | (4,883) | ||
E | Other current loans and borrowings | (119,969) | (129,552) | ||
F | Short-term loans and borrowings | (C+D+E) | (155,209) | (165,315) | |
G | Net Current Financial Position | (A+B+F) | 298,300 | 465,149 | |
H | Non-current portion of bank loans and borrowings | (181,816) | (183,657) | ||
I | Other non-current payables | (20,037) | (15,319) | ||
J | Non-current financial debt | (H+I) | (201,853) | (198,976) | |
K | Net Financial Position from continuing operations | (G+J) | 96,447 | 266,174 | |
L | Net financial Positionof disposal groups | 123 | 116 | ||
M | Net Financial Position | (K+L) | 96,570 | 266,290 |
- Italian Companies and Stock Exchange Commission
-
It must be noted that the values listed in the Group's and Astaldi's Net Financial Position are management-related items, insofar they have not been brought to the Company's Board of Direction approval.
3 In addition to the Net Financial Position established in accordance with the provisions laid down in the recommendation issued by the European Securities and Markets Authority - ESMA (formerly CESR) on 10 February 2005, the Comprehensive Net Financial Position takes also into account non-current loan assets.
1
€'/000 | 31/03/2021 | 31/12/2020 | ||
Non-current loan assets | 12,329 | 11,008 | ||
Subordinated loans | 38,968 | 38,504 | ||
N | Non-current loan assets | 51,297 | 49,512 | |
O | Comprehensive Net Financial Position | (M+N) | 147,867 | 315,802 |
The financial performance of the reporting period was affected by (i) the support guaranteed to the development of the industrial activities of major projects underway in Italy (Jonica National Road, Mega-Lot 3 and Marche-Umbria Road Network, Maxi-Lot 2) and abroad (I-405 Motorway in California, USA, and Braila Bridge in Romania), as well as by (ii) the payment trend of Public Counterparties with which the Group operates, typically more concentrated in the second half of the year.
Furthermore, the following was implemented in Q1 2021:
- the payment relating to the amounts ascertained in Saudi Arabia by the local Governmental Agency (General Authority of Zakat and Tax), referring to the Corporate Income tax on the activities performed in the country by the subsidiary Astaldi Arabia Ltd. during 2006-2009 (approximately EUR 14 million);
- the settlement of an additional portion of the senior debts referring Astaldi's composition procedure (approximately EUR 4.6 million);
- the payment of the amount agreed upon by the subsidiary Astaldi Concessions S.p.A. (approximately EUR 5.5 million) with regard to the settlement agreement executed with Abertis S.A., with regard to the alleged breach of some contract clauses relative to the sale of the equity investment in A4 Holding4.
Net Financial Position of Astaldi S.p.A.
At 31 March 2021, Astaldi S.p.A. recorded Net Financial Position (as per ESMA memorandum dated 10 February 2005) of EUR 23.4 million (EUR 129.6 million at 31 December 2020) and Comprehensive Net Financial Position equal to EUR 107.8 million (EUR 207 million at 31 December 2020).
A summary of Astaldi S.p.A.'s Net Financial Position is shown below.
Table 2 - Net Financial Position of Astaldi S.p.A. at 31 March 2021
€'/000 | 31/03/2021 | 31/12/2020 | |||
Cash | 214,942 | 339,462 | |||
A | Cash and cash equivalents | 214,942 | 339,462 | ||
Short-term loan assets | 84,321 | 69,518 | |||
B | Current loan assets | 84,321 | 69,518 | ||
C | Short-term loans and borrowings | (10,524) | (12,124) | ||
D | Current portion of non-current debt | (2,899) | (2,899) | ||
E | Other current loans and borrowings | (70,229) | (75,384) | ||
F | Short-term loans and borrowings | (C+D+E) | (83,652) | (90,408) | |
G | Net Current Financial Position | (A+B+F) | 215,610 | 318,573 | |
H | Non-current portion of bank loans and borrowings | (181,816) | (183,657) | ||
I | Other non-current payables | (10,390) | (5,389) | ||
J | Non-current financial debt | (H+I) | (192,206) | (189,046) | |
K | Net Financial Position from continuing operations | (G+J) | 23,404 | 129,526 | |
L | Net financial Position of disposal groups | 123 | 116 | ||
M | Net Financial Position | (K+L) | 23,527 | 129,642 |
4 Divested during FY 2016
2
€'/000 | 31/03/2021 | 31/12/2020 | ||
Non-current loan assets | 45,322 | 38,855 | ||
Subordinated loans | 38,968 | 38,504 | ||
N | Non-current loan assets | 84,291 | 77,358 | |
O | Comprehensive Net Financial Position | (M+N) | 107,818 | 207,001 |
- Overdue debts of Astaldi S.p.A. and Astaldi Group at 31 March 2021 split according to type (financial, commercial, tax, social security and due to employees) and any related action taken by creditors
The overdue debts of Astaldi Group and Astaldi S.p.A. at 31 March 2021 are reported below.
Overdue debts of Astaldi S.p.A. at 31 March 2021
A summary of the overdue debts of Astaldi S.p.A. at 31 March 2021 is shown below.
Table 3 - Overdue debts of Astaldi S.p.A. at 31 March 2021
(€ / '000,000) | 31/03/2021 | ||
Trade payables | 41.1 | ||
of which due since less than three months | 28.7 | ||
Loans and borrowings | 1,4 | ||
of which due since less than three months | 0 | ||
Total overdue debts | 42.5 | ||
Overdue debts of Subsidiaries and Joint Operations at 31 March 2021
A summary of the overdue debts of Subsidiaries and Joint Operations at 31 March 2021 is shown below. Table 4 - Overdue debts of Subsidiaries and Joint Operations at 31 March 2021
Afragola FS | ||||||
(€ / '000,000) | S.c.r.l. in | Other Subsidiaries | Joint Operations | |||
composition with | ||||||
creditors | ||||||
Trade payables | 26.2 | 56.6 | 91.1 | |||
of which due since less than three months | n.a. | 17.2 | 41.6 | |||
Loans and borrowings | 0.0 | 37.9 | 0.0 | |||
of which due since less than three months | n.a. | 0.0 | 0.0 | |||
Tax expense | 0.2 | 0.0 | 0.1 | |||
of which due since less than three months | n.a. | 0.0 | 0.1 | |||
Amounts due to social security institutions | 0.0 | 0.0 | 0.0 | |||
of which due since less than three months | n.a. | 0.0 | 0.0 | |||
Amounts due to employees | 0.0 | 0.0 | 0.0 | |||
of which due since less than three months | n.a. | 0.0 | 0.0 | |||
Total overdue debts | 26.4 | 94.5 | 91.2 | |||
3
As regards actions taken by the creditors of the Other Subsidiaries and Joint Operations, it must be noted that at 31 March 2021, some legal actions had been taken by said creditors (payment orders and/or collection notices) with regard to trade relations. The aggregate value of these debts amounts to approximately EUR 1.9 million5.
- Main changes in transactions involving related parties of Astaldi S.p.A. and Astaldi Group with regard to the last annual financial report approved pursuant to article 154-ter of the Consolidated Finance Act
The main transactions involving related parties of Astaldi S.p.A. and Astaldi Group are reported below.
Related Parties relative to Astaldi Group
Table 5 - Related parties relative to Astaldi Group
€'/000 | Financial | |||||||
Receivables | Payables | |||||||
Company Name | Contract | Financial | Financial | Operating | Operating | income | ||
assets | and other | assets | and Other | liabilities | revenue | cost | and | |
Assets | liabilities | |||||||
(Expense) | ||||||||
Parents | ||||||||
Webuild S.p.A. | 0 | 284,357 | 82,360 | 29,925 | 2,592 | 8,928 | 342 | 203 |
Joint ventures | ||||||||
Consorzio AFT Kramis | 0 | 6,034 | 578 | 275 | 0 | 0 | 0 | 0 |
Etlik Hastane PA S.r.l. | 0 | 7,271 | 0 | 696 | 0 | 0 | 39 | 0 |
Other* | 0 | 4,925 | 155 | 2,264 | 0 | 0 | 0 | 1 |
0 | 18,230 | 733 | 3,235 | 0 | 0 | 39 | 1 | |
Associates | ||||||||
Brennero Tunnel Construction | 0 | 3,130 | 7,391 | 13,108 | 0 | 52 | 21,361 | 69 |
S.c.r.l. - BTC SCARL | ||||||||
Consorzio Iricav Due | 0 | 114,552 | 0 | 37,510 | 0 | 109 | 23,754 | (3) |
Consorzio MM4 | 19,980 | 1,489 | 0 | 2,308 | 0 | 16,475 | 230 | 0 |
Diga di Blufi S.c.r.l. | 0 | 6,848 | 0 | 5,506 | 0 | 0 | 0 | 0 |
Metro C | 0 | 1,223 | 0 | 6,777 | 0 | 1 | 4,192 | 0 |
SEIS | 0 | 37 | 5,566 | 0 | 0 | 0 | 0 | 24 |
Other* | 0 | 3,268 | 707 | 2,655 | 0 | 13 | 31 | 0 |
19,980 | 130,547 | 13,664 | 67,864 | 0 | 16,650 | 49,568 | 90 | |
Total | 19,980 | 433,134 | 96,757 | 101,024 | 2,592 | 25,578 | 49,949 | 294 |
* For transactions of a unit amount less than EUR 5,000 thousand.
5 Balances referable to Subsidiaries undergoing Composition with creditors are not included.
4
Related Parties relative to Astaldi S.p.A.
Table 6 - Related parties relative to the parent Astaldi S.p.A.
€'/000
Receivables | Payables | Financial | Profit/(Loss) | ||||||
Company Name | Contract | Financial | and | Financial | Operating | Operating | Income | from | |
and other | |||||||||
assets | Assets | assets | Other | liabilities | revenue | cost | and | discontinued | |
Liabilities | (Expense) | operations | |||||||
Parents | |||||||||
Webuild S.p.A. | 0 | 108,291 | 1,730 | 15,736 | 0 | 0 | 235 | (43) | 0 |
Subsidiaries | |||||||||
AR.GI S.c.p.A. | 0 | 32,798 | 0 | 43,041 | 0 | 0 | 33 | 1 | 0 |
Astaldi Concessions | 0 | 28 | 6,261 | 0 | 2,844 | 0 | 0 | 0 | 0 |
S.p.A. | |||||||||
Astaldi Canada | 0 | 1,353 | 38,956 | 0 | 0 | 0 | 0 | 492 | 0 |
Enterprises Inc. | |||||||||
Astaldi Canada Inc. | 0 | 286 | 13,607 | 1 | 0 | 0 | 0 | (1) | 0 |
Astaldi Construction | 0 | 7,238 | 539 | 6,411 | 0 | 0 | 0 | 499 | 3 |
Corporation | |||||||||
ASTALROM S.A. | 0 | 7,533 | 0 | 9,043 | 885 | 0 | 233 | 0 | 0 |
Consorzio Stabile | 0 | 78,760 | 0 | 112,480 | 0 | 0 | 16,313 | 0 | 0 |
Operae | |||||||||
Constructora Astaldi | 0 | 4,764 | 0 | 5,326 | 0 | 0 | 0 | 0 | 0 |
Cachapoal Limitada | |||||||||
Dirpa 2 S.c.ar.l. | 54,472 | 43,280 | 0 | 4,163 | 0 | 13,928 | 0 | 0 | 0 |
GE. SAT S.c.a. r.l. | 0 | 13,648 | 0 | 9,795 | 0 | 0 | 3,170 | 0 | 0 |
Infraflegrea Progetto | 0 | 5,549 | 0 | 175 | 0 | 1,382 | 0 | 0 | 0 |
S.p.A. | |||||||||
Romairport S.r.l. | 0 | 10,750 | 2,086 | 3,166 | 0 | 0 | 2 | 0 | 0 |
Sirjo Scpa | 0 | 180,566 | 2,526 | 62,697 | 0 | 1 | 13,392 | 16 | 0 |
Other* | 0 | 39,366 | 11,058 | 22,425 | 265 | 982 | 7,396 | 110 | (40) |
54,472 | 425,919 | 75,033 | 278,723 | 3,994 | 16,293 | 40,537 | 1,117 | (37) | |
Joint ventures | |||||||||
Consorzio A.F.T. | 0 | 6,034 | 578 | 275 | 0 | 0 | 0 | 0 | 0 |
Kramis | |||||||||
Etlik Hastane PA S.r.l. | 0 | 7,248 | 0 | 696 | 0 | 0 | 39 | 0 | 0 |
Other* | 0 | 4,633 | 249 | 2,264 | 0 | 0 | 0 | 1 | 0 |
0 | 17,915 | 827 | 3,235 | 0 | 0 | 39 | 1 | 0 | |
Associates | |||||||||
Brennero Tunnel | |||||||||
Construction S.c.r.l. - | 0 | 3,130 | 7,391 | 13,096 | 0 | 52 | 21,361 | 69 | 0 |
BTC SCARL | |||||||||
Consorzio Iricav Due | 0 | 114,552 | 0 | 37,510 | 0 | 109 | 23,754 | (3) | 0 |
Consorzio MM4 | 19,980 | 1,472 | 0 | 2,308 | 0 | 16,475 | 230 | 0 | 0 |
METRO C S.c.p.a. | 0 | 1,216 | 0 | 6,777 | 0 | 1 | 4,192 | 0 | 0 |
Diga di Blufi S.c.r.l. in | 0 | 6,848 | 0 | 5,506 | 0 | 0 | 0 | 0 | 0 |
liquidation | |||||||||
SEIS | 0 | 37 | 5,566 | 0 | 0 | 0 | 0 | 24 | 0 |
Other* | 0 | 3,203 | 707 | 2,559 | 0 | 0 | 31 | 0 | 0 |
19,980 | 130,458 | 13,664 | 67,756 | 0 | 16,637 | 49,568 | 90 | 0 | |
Total | 74,452 | 682,583 | 91,254 | 365,450 | 3,994 | 32,930 | 90,381 | 1,165 | (37) |
* For transactions with a unit amount less than EUR 5,000 thousand.
5
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Astaldi S.p.A. published this content on 17 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2021 19:19:02 UTC.
