(Finance) – The board of directors of Tamburi Investment Partners (TIP), a diversified industrial group listed on Euronext STAR Milan, approved the 2021 financial statements. The year ended with a pro forma net profit of 127.9 million (36.4 million at December 31, 2020) and with a consolidated shareholders’ equity of approximately 1.26 billion (compared to 1.07 billion at 31 December 2020) after dividend distributions for approximately 31 million and purchases of treasury shares for approximately 17.2 million. As of December 31, 2021 the group activities TIP amounted – at market values at the date for listed companies – to approximately 2.6 billion euros compared to just over a billion of the relative book values. Considering the effect of the club deals promoted by TIP, the market value of the investments made exceeds 5 billion.
Globally in the year the TIP group carried out equity investments for 330 million, which rose to approximately 400 million with the effect of club deals and direct divestments for 350 million. “In 2011, almost all of the investee companies achieved excellent results, driven by the strong recovery at international level, with economic performance growth often higher than that of the respective reference sectors, almost always with better results than those of 2019”, reads in a note.
There consolidated net financial position of the TIP group – also taking into account the bond loan, but without considering non-current financial assets considered from the operational point of view of short-term usable liquidity – as at 31 December 2021 it was negative for approximately 380.8 million euros, compared to approximately 366.3 million as of December 31, 2020. The BoD has proposed the distribution of a dividend of € 0.110 (gross of withholding taxes) per share with detachment date on May 23, 2022 and with payment on May 25, 2022, based on the amount of the profit for the year 2021 and, for the remainder, from the reserve of retained earnings.
During today’s meeting, the board also approved the commitment to cover the subscription, through Itaca Equity Holding SpA, up to a maximum of € 39.5 million, of the resolution capital increase for a maximum of € 60 million Landi Renzo. TIP’s commitment is part of a non-binding agreement signed between Girefin SpA and Gireimm Srl, which hold approximately 59% of Landi Renzo, and Itaca Equity Holding, relating to the latter’s entry into the Landi Renzo group. Girefin and Gireimm have in turn undertaken the commitment to subscribe, through voluntary offsetting of credits, the share of capital necessary to guarantee – in addition to the guarantee commitment undertaken by TIP – the capital increase up to 50 million euros. .