Technical Publications Service S.p.A.
- PRESS RELEASE ●
2024 Financial Statement Approval and conferral of the assignment of statutory audit during 2025-2027 three-year period
Gallarate (VA), 29 April 2025 - TPS S.p.A. (TPS: IM), operational holding of the TPS Group, leading company in technical services and engineering for the aeronautical and automotive industry ("TPS", or "Company" or "Issuer") announces that the Ordinary Shareholders' Meeting held today in the first instance (i) approved the financial statement of TPS S.p.A. and took note of the consolidated financial statement of the Group as at 31st December 2024 and (ii) appointed an auditing firm as set forth in art.13 of Legislative Decree 39/2010.
Consolidated Financial Statement as at December 31, 2024 - Main figures
The consolidated financial statement was drawn up on the basis of the financial statement of the Issuer, closed at 31st December 2024 as well as other companies in the group falling within the consolidation perimeter, including Air Support International S.r.l., Aviotrace Swiss SA, EMTB S.r.l., Fore S.r.l., Fore Poland sp. z.o.o., HB Technology S.r.l., HB Aerospace Center Inc., Omniaproject Engineering S.r.l., Satiz Technical Publishing & Multimedia S.r.l., S.Te.L. S.r.l. and Stemar Consulting S.r.l.
Revenues are Euro 52.3 million, up +8.3% compared to the Euro 48.3 million of 2023.In 2024, the TPS Group is structured into an organisation that works across the individual companies and is based on 5 strategic business units: (i) Technical Publishing & Training, (ii) Design & Cost Engineering, (iii) Avionic Services & Information Technologies, (iv) Production e (v) Digital Content Management.
EBITDA for 2024 is Euro 9.1 million, an increase of 5% compared to 2023, for a margin EBITDA of 17.4%. EBIT, at Euro 6.7 million, was in line with the previous year. Adjusted Net Profit, considered net of extraordinary charges related to the digital content management activities reorganisation costs and the partial reconversion of the automotive engineering area, amounted to EURO 4.9 million (Euro 4.8 million as of 31st December 2023).The Net Profit is Euro 4.5 million, of which Euro 4.2 million is attributable to the Group. Net profit increased by
26% over the previous year (Euro 3.6 million).The consolidated net financial position before application of IFRS 16 increases from Euro (13.7) million in 2023 to Euro (18.8) million in 2024. Following the impact of the above-mentioned principle on the rights of use and leasing, NFP passes to EURO (16.4) million compared to Euro (10.6 million) for the 2023 financial year.
Financial statements for TPS SpA as at 31 December 2024 - Approval and profit allocation
Earnings are EURO 24.7 million and show growth of over 10% compared to the Euro 22.4 million of 2023, for higher volumes of technical and design services provided to the aeronautical industry.Due to labour cost growth dynamics, EBITDA amounted to Euro 4.4 million (Euro 4.6 million in 2023), with an EBITDA
margin of approx. 18%. EBIT is Euro 3.5 million (Euro 3.9 million in 2023).
The Net Profit, amounting to Euro 2.9 million, was substantially in line with 2023.
The Net financial position is Euro (13.9 million) compared to the Euro (9.9 million) as at 31 December 2023. The increase in liquid assets is the result of operating cash flow generation and the reduction in working capital, net of investments made during the year.
The Shareholders' Meeting authorised the allocation of the whole operating profit of the Company, of EURO 2,931,962 within the terms proposed by the Board of Directors (i) to the distribution of a gross dividend of Euro 0.08 per eligible share, thus excluding treasury shares in the portfolio, and (ii) to the extraordinary reserve for the difference between the profit for the year and the total value of the dividend distributed to Shareholders.
The dividend will be paid on 7th May 2025, on the ex-dividend date number 6 on 5th May 2025 (record date: 6th May 2025).
It is also reported that the audit firm Audirevi S.p.A. expressed a verdict of "clean" both for the financial statement and for the consolidated financial statement.
Confirmation of the appointment to carry out the statutory audit for the 2025-2027 three-year period
With the approval of financial statements as at December 31st, 2024, the term for carrying out the statutory audit conferred to the accounting firm Audirevi S.p.A. for the years 2022-2024 is up. To this regard, as set forth in art.13 of Legislative Decree no. 39/2010 the Shareholders' Assembly-by justified proposal of the Board of Statutory Auditors- passed resolution to renew the assignment for the statutory audit of the financial statements and consolidated financial statements, as well as the abbreviated half-yearly consolidated report, to the company Audirevi S.p.A., which will thus remain in office until the date of approval of the financial statements on December 31, 2027.
The Minutes of the Meeting will be made available to the public within the terms and according to the methods required by current regulations.
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This press release is available on-line at https://www.tps-group.it (in the Investor Relations/Press Releases section)
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TPS S.p.A. is the operating holding company of TPS Group, a leader in technical and engineering services for the aeronautical industry, with a particular focus on the helicopter segment. TPS has been a Borsa Italiana "Elite" company since 2016. TPS Group operates in the aeronautical, automotive, defence, railway, naval and cable transport systems sectors, providing Technical Publishing & Training, Engineering, Design and Cost Engineering, Avionic Software Development and Systems Integration, Digital Content Management TPS Group's clients include leading businesses in the design and production of aircraft and aeronautical components, as well as leaders in the automotive, railway, defence and cable transport systems manufacturing sector.ISIN code ordinary shares: IT0005246142 - Ticker ordinary shares: TPS For further information:
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Investor Relations●
Sanna Rossella
e.mail: investor.relations@tps-group.it
- Integrae SIM S.p.A. ●
Euroonext Growth Advisor tel: +39 02/80506160
e.mail: info@integraesim.it