Fine Foods & Pharmaceuticals N.T.M. S.p.A. 31 December 2020 Financial Report and Financial Statements
FINE FOODS & PHARMACEUTICALS N.T.M. S.p.A.
Registered office: VIA BERLINO 39 VERDELLINO (BG)
Registered in the BERGAMO Companies Register
Tax code and company reference number: 09320600969
Registered in the BERGAMO REA no. 454184
Subscribed share capital € 22,601,885.30 Fully paid up
VAT number: 09320600969
Annual Financial Report
as of 31 December 2020
30 March 2021 Board of Directors
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Fine Foods & Pharmaceuticals N.T.M. S.p.A. 31 December 2020 Financial Report and Financial Statements
Table of contents
Corporate positions | page | 3 |
Report on Operations | " | 5 |
31 December 2020 Financial Statements | " | 28 |
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Fine Foods & Pharmaceuticals N.T.M. S.p.A. 31 December 2020 Financial Report and Financial Statements
CORPORATE POSITIONS
Board of Directors
Chairman and CEO
Marco Francesco Eigenmann
CEO
Giorgio Ferraris
Directors
Federico Oriani
Adriano Pala Ciurlo
Fulvio Conti
Marco Costaguta
Paolo Ferrario
Board of Statutory Auditors
Chairman
Paolo Villa
Statutory Auditors
Marco Antonio Manzoni
Barbara Castelli
Auditing Company
EY S.p.A.
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Fine Foods & Pharmaceuticals N.T.M. S.p.A. 31 December 2020 Financial Report and Financial Statements | |
Report on Operations: Summary | |
Significant events .................................................................................................................................................................................. | 10 |
General economic performance ............................................................................................................................................................ | 11 |
Management Performance .................................................................................................................................................................... | 12 |
Business outlook ................................................................................................................................................................................... | 12 |
Significant events occurred after the year-end ...................................................................................................................................... | 13 |
Fine Foods & Pharmaceuticals N.T.M. S.p.A. share price trend ........................................................................................................... | 13 |
Balance sheet and financial position ..................................................................................................................................................... | 14 |
Financial situation .................................................................................................................................................................................. | 16 |
Income Statement ................................................................................................................................................................................. | 16 |
Alternative Performance Indicators........................................................................................................................................................ | 18 |
Main risks and uncertainties for the Company....................................................................................................................................... | 19 |
Key non-financial indicators................................................................................................................................................................... | 23 |
Environmental information ..................................................................................................................................................................... | 23 |
Work Risk Assessment Document ........................................................................................................................................................ | 23 |
Personnel Management Information ..................................................................................................................................................... | 24 |
Research and development................................................................................................................................................................... | 25 |
Relationships with subsidiary, associated, parent companies and companies controlled by the parent companies ............................ | 25 |
Related Party Relationships .................................................................................................................................................................. | 25 |
Treasury shares buyback programme ................................................................................................................................................... | 25 |
2018-2021 Fine Foods N.T.M. S.P.A. stock grant incentive plan S.P.A. 2018-2021............................................................................. | 27 |
Parent Company shares ........................................................................................................................................................................ | 27 |
Use of financial instruments significant to the assessment of the financial position and net result for the year .................................... | 27 |
Branch offices ........................................................................................................................................................................................ | 27 |
Personal data protection - Privacy......................................................................................................................................................... | 28 |
Proposals of the Board of Directors to the Shareholders' Meeting ........................................................................................................ | 28 |
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Fine Foods & Pharmaceuticals N.T.M. S.p.A. 31 December 2020 Financial Report and Financial Statements
Directors' Annual Report
Introduction
The year's financial statements ended 31 December 2020 are the first prepared by Fine Foods & Pharmaceuticals N.T.M. S.p.A. (hereafter "the Company") under IAS/IFRS international accounting standards issued by the International Accounting Standards Board (IASB) and the interpretations of the International Financial Reporting Standards Interpretation Committee (IFRS IC, formerly IFRIC) and the former Standing Interpretations Committee (SIC) (hereafter "IAS/IFRS standards"), endorsed by the European Union following the entry into force of (EC) Regulation no. 1606/2002 issued by the European Parliament and the European Council in July 2002.
After starting the translisting procedure to the MTA market and possibly adhering to the STAR segment managed by Borsa Italiana, which took place on 9 November 2020, the Company has adopted international accounting standards. Under IFRS 1, the date of transition to IAS/IFRS of the annual Financial Statements is 1 January 2019.
Under paragraph 5 of art. 2497-bis of the Civil Code, we state that the Company is not subject to external management and coordination.
Dear Shareholders, the draft Financial Statements for the year ended 31 December 2020 are being submitted to you for approval. Revenues increased compared to the previous year to reach € 171,955,007, the increased operating result was € 9,484,561, and the net profit was € 13,364,228.
Profit and loss figures
Economic indicators for the year (In thousands of Euro) | 31/12/2020 | 31/12/2019 |
Revenues | 171,955 | 159,672 |
EBITDA | 21,121 | 17,508 |
Operating profit (EBIT) | 9,485 | 8,148 |
Profit (Loss) for the financial year | 13,364 | (2,790) |
The above table provides an initial outline of the Company's economic performance in 2020, described in detail later in the relevant sections of this Report and the explanatory notes.
Company Information
Fine Foods & Pharmaceuticals N.T.M. S.p.A., operating since 1984, is the leading independent Italian Company in the contract development and manufacturing organisation (CDMO) of oral solid forms for the pharmaceutical and nutraceutical industries. The Company is recognised on the market for its high-quality products and has long-term relationships with most of its customers (more than one hundred). It has a constantly growing turnover which reached 172 million in 2020.
Fine Foods & Pharmaceuticals N.T.M. S.p.A. is a company listed on the Alternative Investment Market (hereafter AIM Italia), managed by Borsa Italiana S.p.A. since 1 October 2018, that focuses on small and medium-sized Italian companies with high growth potential, which receive strategic financial support to implement their development and internationalisation plans.
The Company develops and manufactures drugs, food supplements and other nutraceutical products and medical devices for pharmaceutical and nutraceutical companies. These products are in the form of powders, soluble,
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Fine Foods & Pharmaceuticals NTM S.p.A. published this content on 04 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2021 09:00:08 UTC.