At the request of CONSOB, 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.
a) Net Financial Position of Astaldi S.p.A. and Astaldi Group at 30 September 2020, with highlighting of short-term items separately from medium/long-term items
It should be preliminary noted that on 17 July 2020 the Court of Rome, upon the outcome of the verification of the regularity of the composition procedure and the results of the creditors’ vote, published the approval decree regarding Astaldi’s Composition procedure on a going concern basis. Subsequently to this approval, also the Liquidation Perimeter, set up pursuant to article 2447-bis et seq. of the Italian Civil Code, as provided for in Astaldi’s Composition Plan and Proposal aimed at segregating certain assets for the sole purpose of settling the Company’s unsecured debt, began to produce the related legal effects.
Net Financial Position of Astaldi Group
At 30 September 2020, the Group recorded Net financial debt (as per ESMA memorandum dated 10 February 2005) equal to EUR 2,567.6 million (EUR 2,686.7 million at 30 June 2020) and Comprehensive financial debt of EUR 2,249.5 million (EUR 2,368.7 million at 30 June 2020). It should be noted that the Group’s comprehensive financial debt at 30 September 2020 is negative for EUR 2,409.1 million as regards the Liquidation Perimeter and positive for EUR 159.6 million as regards the Group’s general operations.
A summary of the Net Financial Position is shown below.
Table 1 – Net Financial Position of Astaldi Group at 30 September 2020.
|
EUR/ ‘000 |
30/09/2020 |
30/06/2020 |
||
|
A |
Cash |
336,228 |
289,657 |
|
|
B |
Current loan assets |
|
180,561 |
112,281 |
|
C |
Payables for bonds |
|
(908,580) |
(907,550) |
|
D |
Other payables |
|
(1,930,094) |
(1,932,613) |
|
E |
Current financial debt |
(C+D) |
(2,838,674) |
(2,840,163) |
|
F |
Net current financial debt |
(A+B+E) |
(2,321,886) |
(2,438,224) |
|
G |
Payables for bonds |
|
(198,635) |
(197,138) |
|
H |
Other payables |
|
(50,476) |
(52,952) |
|
I |
Non-current financial debt |
(G+H) |
(249,111) |
(250,090) |
|
J |
Net financial debt from Continuing operations |
(F+I) |
(2,570,997) |
(2,688,314) |
|
K |
Net financial debt of disposal groups |
|
3,368 |
1,593 |
|
L |
Net financial debt as per ESMA (formerly CESR) memorandum of 10 February 2005 |
(J+K) |
(2,567,629) |
(2,686,721) |
|
M |
Non-current loan assets |
|
318,126 |
317,986 |
|
N |
Comprehensive financial debt |
(L+M) |
(2,249,503) |
(2,368,735) |
|
|
of which comprehensive financial debt of Liquidation Perimeter |
|
(2,409,090) |
n.a. |
|
|
of which Net Financial Debt of General operations |
|
159,587 |
n.a. |
It must be noted that the values listed in the Group’s Net Financial Position are management-related items and have not been brought to the Company’s Board of Directors attention.
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