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    REY   IT0005282865

REPLY S.P.A.

(REY)
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Delayed Borsa Italiana  -  11:35 2022-07-01 am EDT
116.70 EUR   +0.86%
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05/24Reply extends its presence in banks and insurance in Germany with the acquisition of FINCON
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05/24REPLY Extends Its Presence in Banks and Insurance in Germany With the Acquisition of FINCON
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REPLY Extends Its Presence in Banks and Insurance in Germany With the Acquisition of FINCON

05/24/2022 | 08:46am EDT

REPLY [EXM, STAR: REY] announces today that has signed an agreement to acquire 100% of FINCON Unternehmensberatung GmbH (www.fincon.eu) - a German consulting company leader in digital transformation projects for the banking and the insurance industry.

FINCON, headquartered in Hamburg, is a pure consulting company specialized on the core processes and systems for the financial services industry such as, mobile banking, payments, core banking, internal control system and regulatory compliance, BIPRO and insurance systems. Among the customers of FINCON there are the main German banking and insurance institutions and many of the German Sparkasse.

The investment in FINCON is part of Reply's international growth strategy, particularly in Germany, where Reply is already a leading player in consulting, system integration and digital services.

The managing directors of FINCON with the role of "Partner Reply" will focus on further developing and expanding the activities of FINCON within the Reply Group in Germany.

"FINCON - said Mario Rizzante, President of Reply - mixes a great expertise on banking and insurance processes with a constant attention to technological innovation. With FINCON our goal is to expand Reply footprint into the German banking and insurance sector with a focus on digital transformation projects an area where all the main industry players are concentrating the majority of their investments.”

Frank Dünnleder, CEO of FINCON commented: "We are very excited to be joining Reply’s network of companies as the leading consulting company for the financial services industry in Germany. The strong interest in people, culture and customer focus that characterize Reply fits perfectly with our corporate culture. As part of the Reply network, we benefit from the innovative power and creativity of the entire group, which enables us to support our customers even better and more comprehensive with cutting edge solutions and services.”

The completion of the transaction is subject to fulfilment of certain conditions, such as the clearance by the German Federal Cartel Office. Completion is expected to occur towards the end of June 2022.

REPLY
Reply [EXM, STAR: REY, ISIN: IT0005282865] is specialized in the design and implementation of solutions based on new communication channels and digital media. Reply is a network of highly focused companies supporting key European industrial groups operating in the telecom and media, industry and services, banking, insurance and public administration sectors in the definition and development of business models enabled for the new paradigms of AI, cloud computing, digital media and the Internet of Things. Reply services include: Consulting, System Integration and Digital Services. www.reply.com

FINCON
With around 450 employees, FINCON Unternehmensberatung GmbH is the consulting and solutions company specializing in banks, the savings bank financial group and the insurance industry. In the banking segment, FINCON advises major banks, the cooperative financial group and selected foreign and specialist banks on specialist, technical, process-related and project methodological issues. www.fincon.eu

This press release is a translation, the Italian version will prevail.


© Business Wire 2022
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Financials
Sales 2022 1 785 M 1 856 M 1 856 M
Net income 2022 175 M 182 M 182 M
Net cash 2022 313 M 326 M 326 M
P/E ratio 2022 25,0x
Yield 2022 0,76%
Capitalization 4 358 M 4 533 M 4 533 M
EV / Sales 2022 2,27x
EV / Sales 2023 1,98x
Nbr of Employees 10 579
Free-Float 58,7%
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 116,70 €
Average target price 152,55 €
Spread / Average Target 30,7%
EPS Revisions
Managers and Directors
Tatiana Rizzante Chief Executive Officer & Executive Director
Mario Rizzante Chairman
Secondina Giulia Ravera Independent Non-Executive Director
Francesco Umile Chiappetta Independent Non-Executive Director
Patrizia Polliotto Independent Non-Executive Director
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