ALKEMY S.P.A. (Translation from the Italian original which remains the definitive version)
Alkemy S.p.A.
Interim Financial Report
30 June 2022
Alkemy Group
Parent Alkemy S.p.A.
Registered office in Milan, at Via San Gregorio 34
Share Capital Euro 595,534.32
VAT no.: 05619950966
Milan Company Registration no. 1835268
Contents | |
Corporate bodies of Alkemy S.p.A.……………………………………………………………............. | 3 |
Highlights……………………………….…………………………..…………….………………………….. | 4 |
The Group and its business ……..……….….………………………………………………………….... | 5 |
Group structure…………………..….……………………………………………………………………… | 6 |
Business units…………………….……………………..……………………………………………………. | 7 |
Report on Operations……………………..…………………..….………….………............................... | 9 |
H1 2022 performance………………………………………………….……….……………………… | 9 |
Key income statement figures …………………………………….……….………………………... | 9 |
Key statement of financial position figures..…………………………….……….………………. | 11 |
Main financial figures………………………………………………….……….………………………. | 12 |
Significant events during the period.……………………………………………………………….. | 12 |
Evolution of demand and performance of the markets on which the Group operates… | 14 |
Conduct by the competition………………………………………………………………………… | 15 |
Alkemy on the stock market………………………………………………………………………….. | 17 |
Financial management……………………………………………………………………………….. | 20 |
Investments………………………………………………………………………………………………. | 21 |
Related party transactions……………………………………………………………………………. | 21 |
Research and development…………………………………………………………………………. | 21 |
Treasury shares…………………………………………………………………………………………... | 22 |
Stock Option Plans…………………….……………………………………………….……….………. | 22 |
Events after the reporting period……………………………………………………………………. | 23 |
Outlook……………………………………………………….............................................................. | 23 |
Condensed interim consolidated financial statements at 30 June 2022………......................... | 25 |
Income statement………………………………………………………………………………………… | 26 |
Statement of comprehensive income………………………………………………………………... | 27 |
Statement of financial position…………………………………..…………………………………….. | 28 |
Statement of cash flows…………………………………………………………………………………. | 30 |
Statement of changes in equity………………………………………………...……………………... | 31 |
Notes to the condensed interim consolidated financial statements…………………………… | 32 |
Annex 1 - The Alkemy Group companies at 30 June 2022……………………………………….. | 63 |
Annex 2 - Financial schedules with separate indication of related party transactions.......... | 64 |
Attestation in accordance with Article 154-bis, 2nd paragraph, of Italian Legislative | |
Decree no. 58 of 24 February 1998 "Consolidated text setting out provisions on financial | |
intermediation", as subsequently amended................................................................................. | 67 |
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Corporate bodies of Alkemy S.p.A.
Board of Directors * | |
Alessandro Mattiacci | Chairman |
Duccio Vitali | Chief Executive Officer |
Massimo Canturi | Director with delegations |
Riccardo Lorenzini | Director |
Giulia Bianchi Frangipane | Independent Director |
Serenella Sala | Independent Director |
Ada Ester Villa | Independent Director |
Board of Statutory Auditors * | |
Gabriele Gualeni | Chairman |
Mauro Bontempelli | Standing Auditor |
Daniela Bruno | Standing Auditor |
Marco Garrone | Alternate Auditor |
Maria Luisa Sartori | Alternate Auditor |
Independent Auditors
KPMG S.p.A.
*Appointed by the Shareholders on 26 April 2022.
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Highlights
The Interim Financial Report at 30 June 2022 has been prepared in accordance with Article 154-ter of Italian Legislative Decree no. 58/1998 as subsequently amended (the "Consolidated Law on Finance").
The report complies with the International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board (the "IASB") and endorsed by the European Union, as well as with the provisions of IAS 34- "Interim Financial Reporting".
Below are the key data on operations of the Alkemy Group in H1 2022:
Figures in thousands of euros
H1 2022 | H1 2021 | |
Net revenue | 49,016 | 44,549 |
Adjusted gross operating profit (EBITDA1 | 5,425 | 5,041 |
Adjusted operating profit (EBIT2 | 4,015 | 4,033 |
Profit for the period | 2,479 | 1,576 |
Average number of employees | 765 | 590 |
Figures in thousands of euros
H1 2022 | H1 2021 | |
Italy revenue | 34,562 | 30,433 |
Export revenue | 14,454 | 14,116 |
Net revenue | 49,016 | 44,549 |
Figures in thousands of euros | ||
30 June 2022 | 31 Dec. 2021 | |
Net invested capital | 58,801 | 57,891 |
Net financial debt | (20,101) | (21,192) |
Equity | 38,700 | 36,699 |
- Adjusted gross operating profit is the value determined by deducting the Costs for services, goods and other operating costs and Personnel expense, with the exclusion of non-recurring costs, from revenue.
- Adjusted operating profit is adjusted gross operating profit less amortisation, depreciation, provisions and impairment losses.
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The Group and its business
Alkemy S.p.A. (hereinafter also "Alkemy" or the "Company") is a leading company in the digital transformation segment in Italy, listed on the STAR segment of the Borsa Italiana EURONEXT MILAN market. Alkemy enables the evolution of enterprises' business defining the relevant strategy through the use of technology, data and creativity. The aim is to improve the operations and services supplied by large and medium enterprises, stimulating the evolution of their business model hand-in-hand with technological innovation and consumer conduct. Alkemy develops innovative projects throughout the chains of the various segments, such as, for example, telecommunications, media, consumer services, financial services and utilities, combining advanced technologies with innovative design, big data and creative communication.
The Company's competitive advantage is its capacity to integrate different competences, intervening as a single player in the Customer's processes and operations, supplying multiple services that can impact the whole of the value chain. Indeed, Alkemy manages extensive projects aimed at transforming and evolving its customers' business, assisting them from the definition of the strategy to be pursued through to the relevant implementation and subsequent management.
Alkemy has now entered its tenth year, boasting an ever more extensive alchemy of integrated competences in the areas of Consulting, Communication, Performance, Technology, Data & Analytics and Design, which form a professional community numbering over 700 people offering different experiences and abilities but who are very much united in their values and business culture. Alkemy is today an international business operating in Italy, Spain, Mexico, the USA and the Balkans, established on the basis of a partnership model with customers to enable innovation and growth through digital leverage. Alkemy's aim is, in fact, to construct a long-term relationship with customers, acting not as simple suppliers of services, but rather as an integrated partner to be engaged continuously, in support of programmes of change, transformation and acceleration.
In enabling the innovation process of its customers' business model and, accordingly, their competitiveness in the various industrial segments, Alkemy ultimately seeks to contribute towards the evolution and development of the whole country system.
Alkemy currently numbers 10 offices: in addition to the Milan headquarters, it also operates in Turin, Rome, Cagliari and Rende (Cosenza), Madrid, Belgrade, Mexico City, New York and Reykjavik.
December 2017 saw Alkemy debut on the Borsa Italiana AIM Italia market to gather the capital necessary to finance the growth and expansion of the corporate competences, leaving control over the business with the managers and consequently guaranteeing independence and the possibility of perpetrating the vision.
From when it was listed, in just two years, Alkemy doubled its turnover and in December 2019, it finalised the switch to Borsa Italiana's main market, in the STAR segment dedicated to medium enterprises that undertake to meet standards of excellence in terms of transparency, corporate governance and liquidity.
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Disclaimer
Alkemy S.p.A. published this content on 12 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2022 15:41:03 UTC.
