AIM Italia - Ernesto Mocci - Methorios Capital

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Centro Servizi Metalli (CSM)‣ Centro Servizi iMetalli (CSM), founded din 1988, isacompany specialised ili din mechanical and plasma cutting of stainless steel.‣ CSM is part of Predieri Group, an Italian company that was founded for the production of semi finished products. Today ithas significantly increased its activity to incorporate various other stages of the metal processing and trading cycle (melting,painting, cutting, polishing, storage and distribution).‣ Italy has been the main geographic market for CSM’s activity and in particular, Northern Italy, that accounted for 90% ofturnover for 2007. These regions include Emilia Romagna, Lombardy, Piedmont and Veneto, which are served by the CorteTegge - Cavriago plant in Reggio Emilia that has a processing output of 2,500 ton/year and by the Cignone plant inCremona, that has a processing output of 3,500 ton/year.‣ In 2008, the company began an expansion process into markets abroad that included the opening of a plant in Poland(processing capacity of 3,500 ton/year) to serve Eastern Europe and Germany (the second largest consumer of stainlesssteel in Europe after Italy) and a plant in France (3,000 ton/year).‣ In 2009 thecompany was listed on the MAC segment of Borsa Italiana. The IPO operation prti saw thecompany list new shares hrthat were equivalent to 27.3% of the company in doing so raising around € 7.7 mln. The funds from this capital increasewere used to fund the companies expansion plans both domestically and abroad.‣ Trading of CSM shares in 2010 has been very low with overall turnover equal to € 42,990 (12,000 traded shares). All of thisactivity ii occurred in the month of December.Board of DirectorsGiuseppe Maria Chirico ChairmanValerio VerderioCEORoberto MaggioDirectorRaffaele VanniDirectorStudio Cerioli Pellacini. Financial AdvisorAbaxbankSponsorAbaxbankSpecialistMazarsAuditorSource: Company financials70
Centro Servizi Metalli (CSM)Market DataMarketSectorPriceΔPrice 5 day (%)ΔPrice 1 month (%)ΔPrice 6 month (%)ΔPrice 1 year (%)Number of Outstanding Share (Mln)Market Cap (€ Mln)NFD(€ Mln) @ 2009 YEnterprise Value (€ Mln)CENTRO SERVIZIBorsa ItalianaMetal Processors&Fabrica-8,5 85-28,8-54,3-52,56,912,68,921,41,83 EUR4,504,003,50300 3,002,502,001,501,000,500,0014.00012.00010.0008.0006.0004.0002.0000Source: Bloomberg@ 28/06/2011VolumePi Price€.million 2009 2010Revenue 18,77 32,20Source: Bloomberg 28/06/2011EBITDA 0,79 1,83Margin 4% 6%EBIT 0,54 1,47Margin 3% 5%Net Income (Loss) 0,16 0,86Margin 1% 3%Net Financial Debt 8,85 11,53Source: Bloomberg 28/06/201171
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Multilateral Trading FacilitiesJuly
Page 3 and 4:
Index• AIM Italia Companies Analy
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IPO Market
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European IPO market‣ European equ
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The Italian IPO market‣ As shown
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New Potential listings on Borsa Ita
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AIM UK‣ Like the IPO market in It
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AIM Italia‣ The acquisition of Bo
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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 and 48: First Capital Investment CompanyMar
Page 49 and 50: Poligrafici PrintingMarket DataMark
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: Raffaele CarusoMarket DataMarketSec
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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AIM Italia - Ernesto Mocci - Methorios Capital

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