CIRCLE: THE BOARD OF DIRECTORS APPROVES THE HALF-YEAR CONSOLIDATED FINANCIAL REPORT AT JUNE 30th 2020
VALUE OF PRODUCTION +21%, 14% EBITDA MARGIN
MAIN CONSOLIDATED RESULTS 1H2020
Value of Production: 3.2 million Euro, +21% (2.6 million Euro 1H2019)
Adjusted EBITDA (except non-recurrent costs related to pandemic): 0.7 million Euro (0.7 million Euro 1H2019)
Adjusted EBIT (except non-recurrent costs related to pandemic): Euro 0,4 milioni (Euro 0,4 milioni 1H2019)
Net Profit: 0.04 million Euro (0.38 million Euro 1H2019)
Net Financial Position (cash) 0.47 million Euro (0.34 million Euro at 31st December 2019) after investments for product evolution as well as non-recurrent activities for market development and internationalization
Proprietary products Milos®, MasterSped® and MasterTrade® +54%; new "federative" services were launched in September to meet the needs for a full digitalisation of the Supply Chain
Among the most significant events after the reporting period are the strengthening of Log@Sea network of enterprises, and the participation to European projects MOSES and 5G-LOGINNOV
Milan, September 24th, 2020
The Board of Directors of Circle S.p.A. ("Circle"), company heading the homonymous Group specialized in the analysis and development of automation and digitalization solutions for port and intermodal logistics sectors, listed on the AIM Italia market organized and managed by Borsa Italiana, during the conference call meeting held today, approved the half-year consolidated financial report at June 30th 2020 which is subject to limited audit.
Luca Abatello, President & CEO at Circle, stated: "Despite the difficult economic situation, we are satisfied with the substantial increase of Value of Production, with a 21% growth compared to 1H2019. We managed not to interrupt any of the investments, activities and projects we planned before the crisis caused by COVID-19 pandemic and lockdown and I
think this a great result, especially if you consider that North-Western Italy was also affected by huge problems at transport system for a long time.
In some ways the pandemic has accelerated the evolution of our products, in particular with the launch of innovative "federative" services launched in September to meet the needs for a full digitalisation of the Supply Chain.
Moreover, I'd like to remind new important alliances, the release of Milos® TOS suite for CILP Terminal in Leghorn (an extremely challenging context), the contract to supply with Milos® TOS suite TIMT - Trieste Intermodal Maritime Terminal, which includes Samer & Co. Shipping and Turkish operator Ulusoy, the contract to partecipate to TEBETS project (Technological Boost for Efficient port Terminal operations following Safety-related events) financed by Italian MISE and European projects MOSES and 5G-LOGINNOV which represent very important starting points to make the most of the recovery of the sector in the next months".
Consolidated highlights at June 30th 2020
Value of Production amounted to 3.2 million Euro (2.6 million Euro 1H2019) with an
increase of 21%.
The Group has made indeed constant actions to improve efficiency and strengthen the
synergies with subsidiaries Info.era and Progetto Adele. These initiatives, together with
internal optimisations, brought to a 54% growth of proprietary products Milos®,
MasterSped® and MasterTrade®.
Adjusted EBITDA (except non-recurrent costs related to pandemic) totalled 0.7 million Euro (0.7 million Euro 1H2019)
EBITDA amounted to 0.4 million Euro (0.7 million Euro 1H2019) with 14% EBITDA margin
Adjusted EBIT (except non-recurrent costs related to pandemic) totalled 0.4 million Euro (0.4 million Euro 1H2019)
EBIT amounted to 0.07 million Euro (0.47 million Euro 1H2019)
Net Profit totalled 0.04 million Euro (0.38 million Euro 1H2019)
Net Financial Position (cash) amounted to 0.47 million Euro (0.34 million Euro at December, 31st, 2019) after investments for product evolution as well as non-recurrent activities for market development and internationalization
Net Profit totalled 0.04 million Euro (0.38 million Euro 1H2019)
Equity stood at 4.45 million Euro (4.43 million Euro at December, 31st, 2019)
During 1H2020 investments, amounting to 0.4 million Euro, were made mainly for the evolution of Milos® TOS and MTO suite, MasterSped® and new "federative" services launched by Circle Group, including those related to the dematerialisation of security and customs procedures, which is an even more strategic aspect because of the pandemic.
Circle S.p.A. highlights at June 30th 2020 (*)
Value of Production: 1.78 million Euro (1.76 million Euro 1H2019)
EBITDA adjusted (esclusi costi non ricorrenti derivanti dall'emergenza sanitaria): 0.5 million Euro (0.5 million Euro 1H2019)
EBITDA: 0.3 million Euro (0.53 million Euro 1H2019); 18% EBITDA margin
EBIT: 0.13 million Euro (0.3 million Euro 1H2019)
Net Profit: 0.1 million Euro (0.28 million Euro 1H2019)
(*) Not subject to limited audit
Own shares of the Company are equal to 17.160 (representing 0,4945% of share capital) at
June 30th 2020.
Significant events after the reporting period
July, 15th: Circle strengthens Log@Sea, the business network established in 2014 with the purpose of offering services for the digitalisation of the Supply Chain, Gate Automation and Traffic Monitoring. With remaining 49% for Aitek - Italian company leader in design and implementation of innovative technological solutions for the market of Intelligent Transport Systems - Circle brings to 51% its participation to the business network with the objective of strengthening the offer of solutions for Gate automation and digitalisation of port and intermodal nodes through the most advanced VCA ("Video Content Analysis") modules based on Machine Learning and Deep Learning ("AI technology") techniques, Blockchain and IoT ("Internet of
July, 16th: Circle announces its participation to MOSES (AutoMated Vessels and Supply Chain Optimisation for Sustainable Short Sea Shipping) European project, financed by European Union within Horizon 2020 Programme and coordinated by NTUA - National Technical University of Athens. Selected with other 16 partners from 7 European Countries, Circle will receive a contribution of EUR 266.875 as leader of different strategic tasks, like promotion and dissemination through digital multichannel platform for Motorways of the Sea www.onthemosway.eu and among related stakeholders within its assignment at the side of European Commission (DG MOVE) for the development of "MoS Implementation Plan 2019-2022".
September, 9th: Circle announces its participation to 5G-LOGINNOV European project, including new generation of 5G terminals for future Connected and Automated Mobility (CAM), new types of Internet of Things-5G devices, data analytics, next generation traffic management and emerging subsets of 5G networks functions, for port areas and city-ports to handle upcoming and future capacity, traffic, efficiency and environmental challenges. Selected with other 15 partners, Circle will receive a contribution of EUR 296.625 to provide consulting services about logistic processes and to lead promotion and dissemination activities.
Current scenario, which is made complicated by COVID-19 pandemic, makes it
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