THE ORDINARY SHAREHOLDERS’ MEETING OF ALA S.P.A. APPROVES THE FINANCIAL STATEMENTS FOR 2023 AND RESOLVES TO DISTRIBUTE A DIVIDEND OF € 0.75 PER SHARE, EQUAL TO € 6,772,500
APPROVED THE POSSIBLE PURCHASE AND DISPOSAL OF OWN SHARES WITHIN 18 MONTHS OF THE RESOLUTION
APPOINTED THE NEW BOARD OF STATUTORY AUDITORS FOR 2024-2026
Naples, 30 April 2024 – The Ordinary Shareholders’ Meeting of ALA S.p.A. (EGM: ALA), leader in Italy and a main global player in the offer of integrated logistics services and the distribution of products and components for the aerospace industry in both the civil and defence sectors (“Aerospace & Defence”), listed on the Euronext Growth Milan Market managed by Borsa Italiana, met on 29 April 2024 chaired by Fulvio Scannapieco. As specified in the call notice published on the Company’s website and on the website of Borsa Italiana, participation in the Shareholders’ Meeting by members with voting rights took place in presence at the registered office in Viale John Fitzgerald Kennedy 54, Naples. No voting procedures by post or electronic means were envisaged.
Approval of the Company’s Financial Statements at 31 December 2023 and acknowledgment of the Group’s Consolidated Financial Statements at 31 December 2023
The Shareholders’ Meeting passed a resolution to approve the Company’s Financial Statements and examined the Group’s Consolidated Financial Statements at 31 December 2023.
Main results of the Group Parent company ALA S.p.A. at 31 December 2023:
The Value of Production was equal to € 133.2 million (€ 104.5 million in 2022)
EBITDA stood at € 16.7 million (€ 13.7 million in 2022)
EBITDA Margin was equal to 12.5% (13.1% in 2022)
Net profit was € 10.1 million (€ 6.6 million in 2022)
Net Financial Position (debt) was € 26.2 million (€ 27.5 million debt in 2022)
Main consolidated results at 31 December 2023:
The Value of Production was equal to € 233.1 million (€ 158.7 million in 2022)
The Gross Margin was equal to € 71.7 million (€ 48.5 million at 31 December 2022)
EBITDA was equal to € 25.4 million (€ 16.8 million at 31 December 2022)
EBITDA Margin was equal to 10.9% (10.6% at 31 December 2022)
EBIT was equal to € 21.2 million (€ 13.6 million at 31 December 2022)
Net profit was € 9.8 million (€ 7.8 million at 31 December 2022)
Net Financial Position (debt) was € 29.2 million (€ 28.7 million debt at 31 December 2022)
Consolidated shareholders’ equity totalled € 65.5 million (€ 60.5 million at 31 December 2022)
Allocation of net profit for the year
The Shareholders’ Meeting passed a resolution to allocate the net profit for the year of € 10,127,113 as follows: € 6,772,500 to distribute a dividend of € 0.75 per share, gross of legal withholdings, with ex-dividend date on 20 May 2024, in compliance with the 2024 Euronext Growth Milan calendar, record date on 21 May 2024, and payment date on 22 May 2024; the remainder of € 3,354,613 to retained earnings, of which € 1,195,502 to the non-distributable foreign exchange translation reserve under Art. 2426, paragraph 8-bis, of the Italian Civil Code.
Authorization for the purchase and disposal of own shares
The Shareholders’ Agreement resolved to authorize, subject to revocation of the previous authorization resolution passed by the Ordinary Shareholders’ Meeting on 27 April 2023, the Board of Directors to purchase, for a period not exceeding eighteen months from the date of this resolution, the Company’s ordinary shares without par value, in one or more tranches, also on a revolving basis, up to a maximum number of own shares of 5% of the outstanding shares, considering the Company’s ordinary shares from time to time held either directly by the Company or by its subsidiaries and, in any case, if lower, up to the maximum allowed by Art. 2357, paragraph 3, of the Italian Civil Code.
The authorization to purchase and dispose of own shares subject to this proposal is required to enable the Company – in compliance with the relevant law, including European law, and the accepted market practices pro tempore in force – to pursue the following purposes:
- preservation for subsequent use, including: consideration in extraordinary transactions, including the exchange or sale of equity investments to be carried out by means of exchange, contribution, or other act of disposal and/or use, with other parties, or allocation to service bonds convertible into shares of the Company or warrant bonds;
- to regulate, directly or through intermediaries, trading, and price trends and to support the liquidity of the share on the market, without prejudice to compliance with current regulations;
- to service future remuneration and incentive plans based on financial instruments reserved for directors and employees of the Company, either through the free granting of purchase options or through the free allotment of shares (so-called stock option and stock grant plans), or to service variable remuneration policies based on financial instruments;
- transactions involving own shares with a view to medium-long term investment, also to establish lasting equity investments, or in any case to seize market opportunities, also through the purchase and resale of shares, operating both on the market and (as regards sale, disposal, or use) the so-called overthe-counter markets, or even off-market through accelerated book-building or block procedures;
- to service any future programs for the free allotment of shares to Shareholders, it being understood that, should the reasons that led to the purchase cease to exist, the own shares purchased in execution of this authorization may be used for one of the other purposes indicated above, or sold.
As for the purchase procedure, please refer to the minutes of the Shareholders’ Meeting for details.
Appointment of the members of the Board of Statutory Auditors and relevant Chairman
The Shareholders’ Meeting approved the composition of the new Board of Statutory Auditors of ALA S.p.A. for 2024-2026, following the two lists presented respectively by the shareholder A.I.P. Italia, which holds 6,662,336 ordinary shares, equal to 73.78% of the share capital, and by institutional investors which hold in total 1,030,062 ordinary shares, equal to 11.4% of the share capital. The Board of Statutory Auditors consists of 3 statutory auditors and 2 alternate auditors, who will serve for three years, i.e. until the date of approval of the Financial Statements at 31 December 2026.
The new Board of Statutory Auditors is as follows:
Statutory Auditors
- Paolo Longoni
- Francesca Sanseverino
- Pietro Carena Alternate
Auditors
- Roberto Lorusso Caputi
- Daniela Tomaselli
The Shareholders’ Meeting also appointed the Chairman of the Company’s Board of Statutory Auditors, in the person of Paolo Longoni, and established the fees for the Statutory Auditors.
The curricula of the auditors and further supporting documentation are available at the registered office, as well as on the Company’s website at: www.alacorporation.com
Documents
The Reports and the Consolidated Financial Statements at 31 December 2023 are available on the website www.alacorporation.com in the Investor Relations/Financial Statements and Reports section, as well as on the website www.borsaitaliana.com, Shares/Documents section. The summary of the votes and the minutes of the Shareholders’ Meeting will be made available to the public in the manner and timeframe envisaged by the law in force and will be available on the website www.alacorporation.com, in the Investor Relations/Shareholders’ Meetings section, and on the website www.borsaitaliana.com, in the Shares/Documents section.
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ABOUT ALA
A.L.A. S.p.A. (Euronext Growth Milan: ALA) is a leading international supply chain partner in the Aerospace, Defense, Railway and High-Tech sectors. For more than 35 years, ALA has served as a one-stop partner for the management and distribution of high-performance products, services and engineering solutions designed to streamline and improve its customers’ supply chain management operations. Headquartered in Naples, Italy, ALA – together with its subsidiary S.C.P. Sintersa – currently relies on a talented workforce of more than 600 people and on the strength of a growing network of sales offices and operations offices across Europe (Italy, Spain, Portugal, the United Kingdom, France and Germany), Israel and North America. ALA serves customers in 40 countries and manages more than 1,500 suppliers worldwide.