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Triboo S.p.A. approves the Annual Financial Report as at 31 December 2022 and the Business Plan 2023-20

Triboo S.p.A. approves the Annual Financial Report as at 31 December 2022 and the Business Plan 2023-2025
 
Key consolidated results as at 31 December 2022 (vs 31 December 2021)
 
  • Consolidated revenue of EUR 93.4 million (vs. 31 December 2021: EUR 97.7 million)
  • Adjusted EBITDA[1] of EUR 12.2 million compared to EUR 14.1 million last year
  • Consolidated adjusted net profit[2] of EUR 1.5 million compared to EUR 3.1 million last year
  • Net financial position as at 31 December 2022 of EUR (10.5) million compared to EUR (2.4) million last year; the NFP is attributable, for EUR 5.4 million, to rents and leases accounted for in application of IFRS 16.
 
The Board of Directors of Triboo S.p.A. ("Triboo" or the "Company"), a group active in the digital sector and listed on Euronext Milan, met on 15 March 2023 under the chairmanship of Riccardo Maria Monti, and reviewed and approved the Annual Financial Report for the year ended 31 December 2022, prepared in accordance with IAS/IFRS.
 
 
"In an exceptionally difficult macroeconomic environment and despite a slowdown in the digital market in the last quarter of the year, Triboo confirms its resilience and ability to adapt to change, continuing to operate in a sustainable and profitable manner," commented Giulio Corno, CEO of Triboo S.p.A.
 
In detail, the Group closed the financial year 2022 with a total:
  • Net revenue of EUR 93.4 million (2021: EUR 97.7 million);
  • EBITDA stood at EUR 11.7 million (EUR 13.0 million in 2021)
  • The Group's NFP went from EUR (-2.4) million to EUR (-10.5) million; EUR 5.4 million of the NFP is attributable to rents and leases accounted for in accordance with IFRS 16.
 
With reference to the Group's two divisions:
 
The Digital Division records revenue EUR 70.5 million (EUR 76.9 million as of 31 December 2021) and EBITDA of EUR 8.1 million compared to EUR 10.1 million in 2021;
The Media Division reports EBITDA of EUR 3.4 million compared to EUR 3.8 million in 2021, with revenues increasing (EUR 24.1 million compared to EUR 21.6 million in 2021).
 
Consolidated net profit for 2022 was a positive EUR 0.8 million (positive EUR 2.4 million in 2021), after impairments and provisions of EUR 1.1 million (EUR 2.5 million as at 31 December 2021) and depreciation and amortisation of EUR 8.6 million (EUR 8.7 million as at 31 December 2021).
 
Significant events in 2022
 
The following are the key events for the year ended 31 December 2022
 
On 10 February 2022, the share buyback programme initiated on 12 October 2020 ended, based on the authorisation of the shareholders' meeting held on 10 September 2020; on 29 April 2022, the Ordinary Shareholders' Meeting resolved to authorise the purchase and disposal of treasury shares, for the purposes described in the Board of Directors' Explanatory Report of 8 March 2022; subsequently, on 13 May 2022, Triboo S.p.A. granted Banca Generali S.p.A, the assignment for the purchase of treasury shares, thus initiating the new purchase programme;
On 29 April 2022, the subsidiary Triboo Digitale S.r.l. acquired an additional 30.50% of the share capital of Digiglow S.r.l., already a 69.5% subsidiary, thus holding all its shares. The total value of the transaction is Euro 200 thousand, fully paid up.
 
On 29 July 2022, Innovas S.r.l. transferred to MDM S.r.l. (formerly Aliboox S.r.l.), a wholly-owned subsidiary of Triboo S.p.A., the business unit consisting of all the elements pertaining to the management and organisation of the "Private Sales" activities and of the shop located in Milan known as "Moscova District Market". At the same time, Triboo Digitale S.r.l., owner of 50.01% of Innovas S.r.l., sold its shareholding, equally to the founding partners;
 
In December 2022, the subsidiary Triboo Digitale S.r.l. indirectly acquired a 33.33% shareholding, through a corporate vehicle specifically set up and named STRAVA S.r.l., in the company Interfashion S.p.A..
 
 
Business Plan 2023-2025 and Business Outlook
 
Triboo's Board of Directors examined and approved the Business Plan for the period 2023 - 2025 (hereinafter ''Plan'').
 
"We are satisfied with the results of 2022, which represented a year of transition, in a context of exceptional complexity" - says Riccardo Maria Monti, CEO of the Group. "On the basis of the results achieved, the actions aimed at strengthening the Group's management, the investments made, as well as an intense programme of process revision and cost optimisation put in place, Triboo is in a position to face the next three years with confidence and we are confident that we can continue along the path of growth undertaken with the previous industrial plan."
 
The Plan approved today has as guidelines revenues growing from Euro 93.4 million in 2022 to Euro 123 million in 2025 and EBITDA growing from Euro 11.7 million in 2022 to Euro 22 million in 2025. 
 
Results of the parent company Triboo S.p.A.
 
The Board of Directors also approved the financial statements for the financial year 2022 of the parent company Triboo S.p.A., which recorded net revenue of EUR 5.8 million (EUR 5.4 million in 2021) and a loss for the year of EUR 1.3 million (loss of EUR 1.9 million in the previous financial year) and was mainly affected by the prudential write-down of the recorded value of a shareholding in the Media Division by EUR 0.9 million.
 
Ordinary Shareholders' Meeting and Proposal for Appropriation of Profit for the Year
 
The Board of Directors resolved to convene the Ordinary Shareholders' Meeting on 28 April 2023, in a single call, for the approval of the financial statements as at 31 December 2021 and for the allocation of the profit for the year. The Board of Directors has resolved to propose to the Shareholders' Meeting to cover the loss for the year through the use of available reserves.
The Shareholders' Meeting will also be called upon to deliberate on the Report on the remuneration policy and compensation paid pursuant to Article 123-ter of Legislative Decree 58/1998, the appointment of the Board of Directors and the appointment of the Board of Statutory Auditors.
The notice of the Shareholders' Meeting will be published within the terms of the law on the Company's website and, in abstract form, in accordance with the Bylaws.
 
It should be noted that, pursuant to Article 106, paragraph 4, of Legislative Decree No. 18 of 17 March 2020, the participation in the Shareholders' Meeting of those entitled to vote is allowed exclusively through the Representative appointed by the Company pursuant to Article 135-undecies of Legislative Decree No. 58/98, to whom a proxy must be conferred, in the manner and under the conditions indicated in the notice of call. The aforementioned designated representative may also be granted proxies or sub-delegations pursuant to Article 135-novies of Legislative Decree No. 58 of 24 February 1998, as an exception to Article 135-undecies, paragraph 4, of the same decree.
 

***
Documentation

The documentation required by the regulations in force in relation to the above matters, together with the Financial Report as at 31 December 2022 of the Triboo Group, approved by the Board of Directors, will be made available to the public within the prescribed regulatory terms at the Company's registered office in Viale Sarca 336, Building Sixteen, Milan, and at Borsa Italiana S.p.A. It will also be available at the authorised storage mechanism eMarket STORAGE, as well as published on the Company's website (www.triboo.com in the Investor Relations section).

***
Declaration pursuant to Article 154-bis, paragraph 2, T.U.F.

Pursuant to Article 154-bis, paragraph two, of Legislative Decree No. 58/98, the Manager in charge of preparing the Company's financial reports, Dr. Matteo Cornelli, declares that the accounting information contained in this press release corresponds to the documented results, books and accounting records. Please note that the financial statement data for the year 2022 reported in this press release and the attached schedules are still subject to verification by the independent auditors.

Prospetto della situazione patrimoniale-finanziaria consolidata al 31 dicembre 2022

 

valori in migliaia di euro

31/12/2022

31/12/2021

 Attività non correnti

61.171

65.482

 Attività materiali

10.859

13.702

 Attività immateriali a vita definita

17.037

18.110

 Avviamento

28.464

28.567

 Partecipazioni contabilizzate con il metodo del patrimonio netto

2.178

2.297

 Attività finanziarie non correnti

573

373

 Attività per imposte differite

1.747

1.877

 Altre attività non correnti

313

556

 Attività correnti

62.049

68.843

 Crediti commerciali

33.667

33.238

 Rimanenze

423

812

 Attività finanziarie correnti

8.793

6.670

 Disponibilità liquide

9.315

24.471

 Attività per imposte correnti

3.390

1.994

 Altre attività correnti

6.461

1.658

 Attività non correnti possedute per la vendita

0

0

 Attività

123.220

134.325
     

valori in migliaia di euro

31/12/2022

31/12/2021

 Patrimonio netto

34.926

36.098

 Capitale sociale

28.740

28.740

 Riserva legale

479

479

 Riserva straordinaria

88

88

 Riserve negativa per azioni proprie in portafoglio

(1.041)

(601)

 Altre riserve

5.173

4.991

 Utili (perdite) netto esercizio

638

1.817

 Patrimonio netto di gruppo

34.077

35.514

 Patrimonio netto di terzi

849

584

 Passività non correnti

24.040

28.023

 Passività finanziarie non correnti

20.828

24.567

 Fondi per benefici a dipendenti

2.548

2.955

 Passività per imposte differite

654

494

 Fondi per rischi ed oneri

10

7

 Passività correnti

64.254

70.204

 Passività finanziarie correnti

7.792

9.005

 Debiti commerciali

47.695

51.283

 Passività per imposte correnti

1.425

2.536

 Altre passività correnti

7.342

7.380

 Passività non correnti possedute per la vendita

0

0

 Passività

123.220

134.325
 

 

 

 

 

Prospetto dell’utile/(perdita) d’esercizio complessivo consolidato al 31 dicembre 2022

 

 

valori in migliaia di euro

31/12/2022

31/12/2021

 Ricavi

91.200

94.655

 Variazioni nelle rimanenze di prodotti finiti

68

724

 Altri ricavi operativi

2.191

3.073

 Costi per acquisto prodotti

(7.619)

(6.222)

 Costi per servizi

(51.504)

(57.033)

 Costi per il personale

(18.422)

(17.739)

 Altri costi operativi

(4.189)

(4.429)

 Ammortamenti

(8.565)

(8.686)

 Svalutazioni e accantonamenti

(1.056)

(2.515)

 Risultato operativo

2.104

1.828

 Proventi finanziari

481

1.211

 Oneri finanziari

(1.157)

(1.371)

 Proventi ed oneri finanziari

(676)

(160)

 Quota di pertinenza del risultato di società collegate

163

175

 Utile prima delle imposte

1.591

1.843

 Imposte sul reddito

(821)

540

 Utile (perdita) di esercizio

770

2.383

- di cui GRUPPO

638

1.817

- di cui TERZI

132

566
 

 

 

 

 

 

 

 

 

Prospetto della situazione patrimoniale-finanziaria di Triboo S.p.A. al 31 dicembre 2022

 

(valori in Euro)

31/12/2022

31/12/2021

Attività non correnti

43.455.588

45.901.084

Attività materiali

7.305.710

7.543.406

Attività immateriali a vita definita

869.651

670.658

Partecipazioni 

27.348.966

28.339.607

Attività finanziarie non correnti

7.102.051

8.442.168

Attività per imposte differite

796.031

872.067

Altre attività non correnti

33.179

33.179

Attività correnti

7.412.756

6.310.589

Crediti commerciali

4.552.804

2.444.749

Attività finanziarie correnti

178.384

488.384

Disponibilità liquide

250.738

205.307

Attività per imposte correnti

552.965

118.143

Altre attività correnti

1.877.864

3.054.006

Totale Attività

50.868.343

52.211.673
     
 

 

 

(valori in Euro)

31/12/2022

31/12/2021

Patrimonio netto

29.070.870

30.763.888

Capitale sociale

28.740.210

28.740.210

Riserva legale

479.334

479.334

Riserva straordinaria

88.226

88.226

Riserva azioni proprie

(1.040.706)

(601.142)

Altre riserve

2.145.950

3.951.186

Utile/(Perdita) dell'esercizio

(1.342.145)

(1.893.927)

Totale Patrimonio Netto

29.070.870

30.763.888

Passività non correnti

9.357.385

10.139.032

Passività finanziarie non correnti

8.916.681

9.632.532

Fondi per benefici a dipendenti

440.703

506.500

Passività correnti

12.440.088

11.308.753

Passività finanziarie correnti

5.246.836

4.994.843

Debiti commerciali

1.710.541

1.574.732

Passività per imposte correnti

109.428

25.071

Altre passività correnti

5.373.283

4.714.107

Totale Passività e Patrimonio Netto

50.868.343

52.211.673

 

 

Prospetto dell’utile/(perdita) d’esercizio complessivo di Triboo S.p.A. al 31 dicembre 2022

 

 

 

(valori in Euro)

31/12/2022

31/12/2021

Ricavi

5.771.103

5.378.190

Costi per Servizi 

(1.422.629)

(2.056.651)

Costi per il personale

(2.702.771)

(2.248.686)

Altri costi operativi

(1.504.444)

(1.871.562)

Ammortamenti

(840.447)

(820.974)

Svalutazioni e accantonamenti

(961.482)

-

Risultato operativo

(1.660.671)

(1.619.683)

Proventi Finanziari

448.981

201.550

Oneri Finanziari

(352.681)

(809.290)

Proventi e oneri finanziari netti

96.300

(607.740)

Risultato prima delle imposte

(1.564.371)

(2.227.423)

Imposte sul reddito

222.226

333.496

Risultato netto dell'esercizio

(1.342.145)

(1.893.927)
     

Altre componenti del conto economico complessivo

 

 

Che non saranno successivamente riclassificate nel risultato d'esercizio

88.692

43.490

Benefici ai dipendenti

88.692

43.490

Totale altre componenti del conto economico complessivo

88.692

43.490

 

 

 

Totale Risultato netto complessivo

(1.253.454)

(1.850.437)