AIM Italia - Ernesto Mocci - Methorios Capital

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Poligrafici Printing‣ Poligrafici Printing is the printing subsidiary of Poligrafici Editoriale (a subsidiary of Morif Group).‣ The company prints various materials including: newspaper such as Il Giorno, La Nazione and il Resto del Carlino;Magazines, various weekly and monthly titles through its subsidiary QN; catalogues; books; and scolastic materials.In addition to printing production the company also offers its clients services in the post production anddistribution phases.‣ Revenue as at the 30 th of September 2010 was recorded at € 51.1 mln, a slight decline on the revenues for 2009 of €52.3 mln over the same period. Revenues in the graphic services segment were recorded as € 24.5 mln for the firstnine months of 2010, thatt was flat in comparison to the year prior. r The mi main contributor t r to this wasConsumerPaper services that recorded a revenue growth of 8.4% in relation to the first nine months of 2009. Printing,activities under contract with parent company Poligrafici Editoriale, accounted for € 27.7 mln that was an decline of3.9% in comparison to the year prior.‣ EBITDA of the company for the first nine months of 2010 was recorded at € 6.6 mln that was a slight increase onthe year prior of € 6.3 mln over the same period.‣ Overall the company recorded a net income of € 1.7 mln in the first nine months of 2010 that was a slight declineon the € 2.1 mln recorded in the first 9 months of 2009.Poligrafici Printing Shares held Changes Total of Shares out (%)Poligrafici Editoriale Spa 27,350,320 89.7Market 3,140,881 10.3Source: Company financialsBoard of DirectorsGiovanni TosoChairmanNicola NataliVice ChairmanSergio VitelliCEOMethorios Capital Financial advisorUgf Merchant Spa NomadBanca FinnatSpecialistReconta Ernst & Young Spa AuditorSource: Company financials48
Poligrafici PrintingMarket DataMarketSectorPricePOLIGRAFICIBorsa ItalianaPrinting-Commercial0611 0,611 EURΔPrice 5 day (%)-0,7ΔPrice 1 month (%)-2,2ΔPrice 6 month (%)-13,8ΔPrice 1 year (%)n/aNumber of Outstanding Share (Mln)30,5Market Cap (€ Mln)18,6NFD(€ Mln) @ 2010 Y30,6Enterprise Value (€ Mln)49,2Source: Bloomberg@ 28/06/20111,601,40120 1,201,000,800,600,400,200,00800.000700.000600000 600.000500.000400.000300.000200.000100.0000VolumePriceSource: Bloomberg 28/06/2011€.million 2009 2010Revenue 68,60 67,73EBITDA 8,34 8,69Margin 12% 13%Net Income (Loss) 0,06 0,43Margin 0% 1%Net Financial Debt 39,18 30,55Source: Bloomberg 28/06/201149
Page 1 and 2: Multilateral Trading FacilitiesJuly
Page 3 and 4: Index• AIM Italia Companies Analy
Page 5 and 6: IPO Market
Page 7 and 8: European IPO market‣ European equ
Page 9 and 10: The Italian IPO market‣ As shown
Page 11 and 12: New Potential listings on Borsa Ita
Page 13 and 14: AIM UK‣ Like the IPO market in It
Page 15 and 16: AIM Italia‣ The acquisition of Bo
Page 17 and 18: AIM Italiatraded ,000)Dailyvolume (
Page 19 and 20: Mercato Alternativo del Capitale (M
Page 21 and 22: AIM Italia & MAC MTF’s‣ To date
Page 23 and 24: AIM Italia & MAC MTF’s‣ An addi
Page 25 and 26: Market players for MTF listings‣
Page 27 and 28: Euronext Alternext - Paris, Lisbon,
Page 29 and 30: Euro MTF (Luxembourg)‣ Euro MTF,
Page 31 and 32: European MTF markets‣ From analys
Page 33 and 34: AIM Italia‣ The following section
Page 35 and 36: VRWay‣ In late 2009, VRWay brough
Page 37 and 38: TBS GroupEquipment and Medical Devi
Page 39 and 40: Made in Italia 1‣ Made in Italy 1
Page 41 and 42: Fintel EnergiaProject Output kWp Ty
Page 43 and 44: Methorios Capital‣ Methorios Capi
Page 45 and 46: Methorios CapitalMarket DataMarketS
Page 47: First Capital Investment CompanyMar
Page 51 and 52: NeurosoftMarket DataMarketSectorPri
Page 53 and 54: IKF‣ In the first half of 2010, I
Page 55 and 56: PMS Group‣ PMS Group is aPublic r
Page 57 and 58: Vita Società Editoriale‣ Vita So
Page 59 and 60: Unione Alberghi Italiani‣ Unione
Page 61 and 62: Mercato Alternativo del Capitale(MA
Page 63 and 64: Rosetti Marino‣ Rosetti Marino Gr
Page 65 and 66: Rosetti MarinoMarket DataMarketSect
Page 67 and 68: Servizi Energetici Integrati (SEI)M
Page 69 and 70: Raffaele CarusoMarket DataMarketSec
Page 71 and 72: Centro Servizi Metalli (CSM)Market
Page 73 and 74: Tessitura Pontelambro‣ Tessitura
Page 75 and 76: Gruppo Effegi‣ Gruppo Effegi inve
Page 77 and 78: Valore Italia‣ Valore Italia is a
Page 79 and 80: Imvest‣ Imvest is an operator in
Page 81: Via Bocca di Leone, 7800187 RomaTel

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