March 31^st, 2022

ALA GROUP: CONSOLIDATED EBITDA RISES TO 13.8 MILLION (+6.2%) AND THE MARGIN INCREASES TO 10.6% IN 2021 (9.5% IN 2020)

THE BOD PROPOSES A DIVIDEND OF € 0.47 PER SHARE TO THE SHAREHOLDERS’ MEETING

The Board of Directors of A.L.A. S.p.A. has approved the draft separate financial statements at 31 December 2021 and the 2021 consolidated financial statements

• Revenues of € 130.7 million (€ 136.8 at 31 December 2020)
• EBITDA of € 13.8 million (€ 13.0 million at 31 December 2020)
• EBIT of € 11.3 million (€ 10.5 million at 31 December 2020)
• Net profit before taxes of € 8.8 million (€ 8.4 million at 31 December 2020)
• Net profit of € 6.12 million (€ 6.04 at 31 December 2020)
• Net financial position (net debt) of – € 5.0 million (- € 27.3 million at 31 December 2020)

Naples, 31 March 2022 – The Board of Directors of ALA S.p.A., Group listed on the Borsa Italiana Euronext Growth Milan market, leader in Italy and amongst the lead players worldwide in the supply of integrated logistics services and the distribution of products and components for the aeronautical and aerospace industry, both in the civil sector and for the Defence (“Aerospace & Defence”), met today and approved the draft separate financial statements and the draft consolidated financial statements at 31 December 2021.

Gennaro di Capua, CEO of ALA, commented: “For us, FY 2021 was without doubt a memorable year. Since last July, ALA has been listed on the EGM segment of Borsa Italiana, an important milestone that has driven us to further speed up our growth path. The 2021 results confirm that our business model, based on an integrated offer, on international presence and segment diversification, is a winning one. In 2021, we successfully further improved our profitability with respect to the significant increase already recorded in 2020. We are ready for new acquisitions, in Italy and abroad, to continue to consolidate our leadership position in aerospace and to grow on new markets”.

ALA GROUP 2021 CONSOLIDATED FINANCIAL STATEMENTS¹: ADDITIONAL GROWTH OF MARGINS THANKS TO INCREASED EFFICIENCY AND AN INTEGRATED BUSINESS MODEL

The ALA Group closed 2021 with a further improvement in profitability, with revenues remaining essentially stable at € 130.7 million. The EBITDA margin went from 9.5% to 10.6%; the 1.1 percentage point growth is the results of an increase in gross margins, coupled with a careful policy to heighten the efficiency of the cost structure of the Group as a whole. This is also reflected in growth in EBITDA, in absolute terms of 6.2%, as compared with 2020, which came in at € 13.8 million. EBIT came to € 11.3 million (+7.6%) and Net profit before taxes grew by 4.5%, coming in at € 8.8 million. 2021 consolidated net profit came to 6.1 million; last year it was 6.0 million, making growth 1.3%.
2021 net revenues went from 136.8 million euros to 130.7 million euros. The slight downturn on 2020 is due to the extinguishing of the extraordinary order of ALA UK of end 2019, revenues of which ended up posted in 2020.

The excellent profitability recorded by the ALA Group in 2021 is linked to an integrated business model that combines activities ranging from the optimised management of procurement to quality controls and the distribution of precision mechanical materials and consumables for the production and maintenance – mainly – of aircraft or satellites.

In 2021, Italy was confirmed as ALA’s main market, on which the group achieves more than 75% of its turnover. In the medium-term, the Group aims to increase its turnover abroad, to take it up to a value it hopes will approach that generated in Italy.

The globalisation strategy and growth by external lines, which was launched in 2010, today guarantees the Group an operative presence on the strategic markets of the United States of America, Great Britain, France, Israel and, since 2020, Germany too. In addition to this, industry diversification has been made possible thanks to the high degree of scalability of the business, which allows ALA to replicate its well-consolidated business model. 

The Net financial position, of 5 million euros (net debt) at the close of FY 2021, shows clear improvement, decreasing by approximately € 22.3 million euros, due to the repayment of mortgages and loans and the increased cash and near-cash as a result of the proceeds from listing, set to be reinvested.
At 31 December 2021, the group’s capitalisation had further improved with ALA SpA’s consolidated net equity going from € 33.2 million at 31 December 2020 to € 56.8 million.

FURTHER EXPANSION ABROAD AND NEW ACQUISITIONS IN THE FUTURE OF THE ALA GROUP

ALA’s future looks set to see further growth abroad, both on the important markets on which the Group already operates, like France, Germany and the United States, and on the major markets within and outside Europe on which it is not yet present.

New objectives will be pursued, with further acquisitions, continuing the strategy launched in 2010, which has allowed the Group to become one of the lead international players in the supply of integrated logistics services and the distribution of products and components for the aeronautical and aerospace industry.

Allocation of period profit

The Board of Directors of ALA SpA has proposed that the Shareholders’ Meeting allocate the net profit for FY 2021, of € 6,032,000, as follows:

• € 301,600 to the legal reserve;
• € 4,244,100 to the distribution of a dividend of € 0.47  per share,  gross of legal withholdings;
• the remainder, of € 1,486,300, to the reserve for profits carried forward.

As regards the distribution of dividends, in compliance with the provisions of the 2022 calendar of Euronext Growth Milan – if the relevant resolution should be approved by the Shareholders’ Meeting – the following dates are proposed for the distribution of dividends to Shareholders: (i) 24 May 2022 as ex-dividend date, (ii) 25 May 2022 record date and (iii) 26 May 2022 as payment date.

Convening of the Shareholders’ Meeting in an Ordinary session

During today’s meeting, the Board of Directors of ALA SpA resolved, amongst other matters, to convene the Shareholders of ALA SpA to meet in an ordinary session on 28 April 2022 at first call and, if necessary, on 29 April 2022 at second call, to resolve on:

1 the approval of the financial statements at 31 December 2021 and allocation of the related period result and acknowledgement of the group’s consolidated financial statements at 31 December 2021; related and consequent resolutions;

2 the appointment of the members of the Board of Directors after determining the term of office, the number of directors and the related fees.

The call notice will be published in the Investor Relations, Shareholders’ Meetings section of the Issuer’s website www.alacorporation.com in the Official Journal and on the website www.borsaitaliana.it in the Shares/Documents section in accordance with the law and statutory provisions.

In accordance with current legislation, the documents requested in connection with the agenda will be deposited at the company’s registered office and, at the same time, made available on the Company’s website (www.alacorporation.com in the Investor Relations section) and in the Shares/Documents section of the website www.borsaitaliana.it in accordance with the legal deadlines.

¹ The data relating to the consolidated financial statements at 31 December 2021 is currently being certified by the appointed independent auditing firm

ABOUT ALA
The ALA Group listed on the Borsa Italiana Euronext Growth Milan market, is the leader in Italy and amongst the lead players worldwide in the supply of integrated logistics services and the distribution of products and components for the aeronautical and aerospace industry, both in the civil sector and for the Defence (“Aerospace & Defence”). The ALA Group also operates in the distribution and integrated logistics of products and mechanical parts for the railway, energy and ship industries. Founded in 2009 on the initiative of the Chairman Fulvio Scannapieco and the Deputy Chairman Vittorio Genna, entrepreneurs with 30 years of experience in the field, ALA has embarked on an organic growth path and development by external lines, which today guarantees it an operative presence and leadership position not only in Italy but also in the United Kingdom, France, Germany, Israel and the United States of America. With 1,300 suppliers worldwide, customers in 40 different countries and more than 250 employees, ALA is a long-standing supplier of the aerospace and aeronautical industry and in recent years has become the reference player for supply chain management services of precision mechanical components and utensils for a great many other highly- technological industrial sectors. >> ALA