FINANCIAL STATEMENTS AT 31.12.2023
GRUPPO OSAI
Index
Chapter 1. Corporate Bodies of the Parent Company Chapter 2. OSAI Group profile
Chapter 3. Introduction
Chapter 4. OSAI Group Management Report
Chapter 5. OSAI Group Consolidated Financial Statements as at 31/12/2023 Chapter 6. Description of accounting principles
Chapter 7. Notes to the Consolidated Financial Statements as at 31/12/2023
Chapter 8. Annual Financial Statements of Osai Automation System S.p.A. SB as at 31/12/2023
Chapter 9. Description of accounting principles
Chapter 10. Notes to the Financial Statements as at 31.12.2023 Chapter 11. Impact report as at 31/12/2023
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Chapter 1.
Corporate Bodies of the Parent Company
GRUPPO OSAI
Board of Directors
Chairperson | Mirella Ferrero |
Chief Executive Officer | Fabio Benetti (I) |
Director | Marco Guolo (I) |
Director | Carlo Giuseppe Frigato (I) |
Independent Director | Paola Marini (II) (III) |
Independent Director | Sergio Duca (II) (III) |
Independent Director | Donatella Busso (II) (III) |
- Member of the Strategic Planning Committee. The term of office of the intra-committee is the same as that of the Board of Directors.
- Member of the Remuneration Committee. The term of office of the intra-committee is the same as that of the Board of Directors.
- Member of the Audit and Risk Committee. The intra-committee has the same term as the Board of Directors
The Board of Directors was appointed by the Shareholders' Meeting on 27 April 2023 until the approval of the financial statements for the financial year 2025.
Board of Statutory Auditors
Chairperson | Ignazio Pellecchia |
Statutory Auditor | Gianna Luzzati |
Statutory Auditor | Alberto Pession |
Alternate Auditor | Gian Paolo Covati |
Alternate Auditor | Francesco Maria Spano |
The Board of Statutory Auditors was appointed by the Shareholders' Meeting of 27 April 2023 until the approval of the financial statements for the financial year 2025.
Independent Auditors
BDO Italia S.p.A.
The Independent Auditors were appointed by the Shareholders' Meeting of 29 April 2021 until the approval of the financial statements for the financial year 2023.
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Chapter 2.
OSAI
Group profile
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GRUPPO OSAI
Presentation of the Group
OSAI Group is a leading international player in the design and manufacture of machines and systems for the automation of industrial processes, in particular in the assembly and testing of high-tech components for the semiconductor, automotive and electronic manufacturing industries.
The OSAI Group aims to further consolidate its leading position in the global market for industrial process automation solutions, exploiting its technology and experience portfolio enriched in over 30 years of activity concentrating its value proposition in offering standard or customised systems for the assembly and testing of high-tech components with applications in different segments and markets characterised by growth and innovation.
Each system is specialised or tailor-made to the customer's requirements and is equipped with the latest technology, such as state-of-the-art laser technology and artificial intelligence systems.
The reference markets in which the Group operates are crossed by favourable long-termmega trends, linked to digitization, technological innovation and the Green and Circular Economy.
The Group believes in a business model that can combine both tradition and modernity, that makes the most of centuries-old Italian ingenuity and tackles the economic challenges of the present and the future in an innovative and creative manner, a Group that places at the centre of its action the valorisation of the Person and a sustainable and balanced growth among the various subjects that participate in its realisation.
With this philosophy, the OSAI Group does not see itself merely as a company that, responding to the laws of the market, maximises profits and private gain, but as a subject of civil society that occupies an important role in the community of reference and assumes economic, social and cultural responsibilities towards it.
According to this philosophy, OSAI Automation System S.p.A. has acquired, by resolution of the Shareholders' Meeting of 27 April 2023, the status of Benefit Corporation, including in its corporate purpose the common benefit purposes, which it has always pursued, in order to create a positive impact on the Company and the Territory, to look at and think of the future in a sustainable way and to guarantee a development and growth in which profit and the common good go hand in hand, aiming at the valorisation of people and society, the protection of the planet and the biosphere and a progressive reduction of the impact on the environment, in terms of reduction of waste and CO2 emissions.
The OSAI Group believes that the promotion of sustainable development and socially-conscious business thinking ensures greater competitiveness globally and long-term continuity and resilience for its business.
This Half-yearly Financial Report was approved by the Board of Directors on 22/03/2024.
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GRUPPO OSAI
The business model
OSAI Group can boast a portfolio of technologies, technical skills and experience enabling it to establish itself as a unique player in the domain of strategic technologies, able to solve complex production problems, focused in particular on assembly and testing processes with advanced measurement and control technologies.
The OSAI Group is organized in Divisions. Their objective is to follow particular market areas or sectors of interest through specific solutions based on shared and transversal technologies.
AUTOMATION DIVISION
The focus of the division, which has been the core business of the OSAI Group since its inception, is on customised automation systems for the assembly and testing of small and medium-sized components and systems in which the OSAI Group has achieved a high level of specialisation. The 'type machines' produced by this division are manifold and include manual and automatic workbenches and units, rotary tables for multi-operations,semi-automatic complete lines and flexible modules.
Initially created to supply customised assembly and testing lines to the automotive industry, today the solutions designed are used to meet a wide range of customer needs, in various fields with particular applications in the advanced mobility and e-mobility sectors.
The division also acts as an ideal partner to support customers in the development of components for passenger cars and electric vehicles with solutions for e.g. assembly, laser welding and testing of battery packs for the automotive market.
The Division also has solutions, experience and expertise to serve the world's leading medical device manufacturers through the use of specific technologies such as advanced optical controls that exploit artificial intelligence algorithms through machine vision.
ELECTRONICS AND APPLIED LASER DIVISION
The division provides solutions for the use of advanced, low-power laser technology for micromechanical machining in industry and processes aimed at the electronics and medical industries.
The systems produced, based on standard or custom platforms, are used in cutting, welding, drilling and marking processes of small metal or plastic components requiring high machining accuracies for the medical, watchmaking and aerospace industries.
The 'Neo' standard platform, designed specifically for the electronics industry, provides a wide range of systems to improve the efficiency of electronic board production processes, particularly for marking, assembly of components on boards and laser and mechanical separation of PCBs (Printed Circuit Boards), including flexible ones.
In addition, thanks to its experience in custom automation, the Division is able to provide integrated automation solutions capable of creating hybrid lines between standard and custom proprietary products and/or also integrate third-party solutions as a system integrator to meet any process requirement, thus offering a turnkey solution to the market.
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SEMICONDUCTOR DIVISION
The division established in 2011 thanks to the Group's successful skills and experience in the automation and electronics industry is now the Group's largest business area. The Division's solutions are aimed at leading global semiconductor manufacturers. They are solutions intended for handling and testing MEMS (Micro Electro-MechanicalSystems) sensors through one or more stimuli (acoustic, motion, electrical contact, pressure, etc.) defined according to the specific target application (consumer, automotive, etc.).
For several years now, the division has also been developing complex customised lines for testing power modules, as well as automation systems for burn-in-testing with loading, unloading, pre-testing and visual inspection functions; up to the realisation of entire systems for the assembly and automatic testing of power modules, including laser marking and the development of compact laboratory conditioning chambers.
From 2020, the Division will also act as a qualified partner for manufacturers of wafers in Silicon Carbide, a material that represents the new frontier in energy management necessary for all applications related to sustainable mobility, providing specific solutions developed for the automation of the various SiC production processes and aimed at increasing the production capacity intended for the management and production of wafers from 200 mm in diameter compared to traditional technology, currently 150 mm.
CIRCULAR ECONOMY DIVISION
The OSAI Group has continued to invest in structuring the new activity related to the automation sector for recycling and waste recovery, with the creation of a business area dedicated to the Circular Economy and the establishment in 2022 of the subsidiary "Osai Green Tech Società Benefit S.r.l.", which is positioned as a technological partner of competence to develop automated systems to automate the process of extraction, separation and selection of valuable components from electronic waste, allowing through specific processes to obtain secondary raw material to be reintroduced into production processes.
SERVICE DIVISION
The division's primary objective is to provide all-round customer support throughout the life cycle of the purchased product.
The services offered range from technical assistance and maintenance on products sold by the Group worldwide, to the sale of spare parts, training services and specific training for customers' technical personnel, through to revamping or refurbishment operations to extend product life up to end-of-life management.
Thanks to an advanced ticketing system and an extensive network of service providers around the world, as well as the use of the best information technologies such as augmented reality, field personnel have the possibility to intervene promptly by activating an audio/video streaming session and share their views with the remote operator, increasing the real or remote presence of the Group's personnel anywhere in the world ensuring speed and efficiency.
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Group structure
As at 31.12.2023, the OSAI Group was organised into a structure headed by OSAI Automation System S.p.A. Benefit Corporation, which holds 100% of 1 Italian company and 3 foreign companies, which represent the perimeter of the corporate group.
The list of subsidiaries is summarised in the diagram below:
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Chapter 3.
Introduction
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