Italian Small Cap Financial Advisory - Team - Methorios Capital

Eidos Partners
Board of Directors
r
John Andrew Managing Director
Stefano Bellavita Managing Director
Marco Clerici Managing Director
Simone Dragone
Managing g Director
Marco Varini Managing Director
Andrea Foti Director
‣ Eidos experienced a hefty decline in revenues for
2009, however with ihanumber of new projects for
the following year the company has the potential for
a turnaround in 2010 and a significant improvement
in margins.
‣ From analysing recent media coverage and current
recent and pending transactions we are able to see
that Eidos covers a fair number of sectors.
‣ According to financial journalists they obtain a
significant amount of their restructuring and M&A
activity by referral from other financial institutions.
‣ The majority of senior staff at some point have
been employed with Citigroup, Schroders and/or JP
Morgan.
INCOME STATEMENT 2008 2009
€.000
Revenue 4,418 2,154
Total Operating Costs 3,771 2,643
EBITDA 647 -489
EBITDA Margin % 15% -23%
Total Amortisation and Depreciation 88 85
EBIT 558 -575
EBIT Margin % 13% -27%
EBT 719 -555
EBT Margin % 16% -26%
Tax 312 -104
Net Income 407 -450
Margin % 9% -21%
BALANCE SHEET 2008 2009
€000 €.000
A) TOTAL FIXED ASSETS 624 561
B) WORKING CAPITAL 1,383 2,006
C) INVESTED CAPITAL (A+B) 2,006 2,567
D) ALLOWANCES 747 899
E) NET INVESTED CAPITAL (C-D) 1,259 1,669
G) SHAREHOLDER'S EQUITY 3,279 2,574
H) NET FINANCIAL DEBT -2,020 -905
I) SHAREHOLDER'S EQUITY + NFD (G+H) 1,259 1,669
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