Ori Martin, here are the accounts and business of the Brescia group aiming at Sogefi (Cir)
Interest of Ori Martin from Brescia (holding in Luxembourg) for Sogefi (Cir group). Facts, rumors, numbers, insights and reactions on the stock market
The spotlight is on Sogefi, a company of the Cir group , listed on the Star segment and operating in the automotive components sector, in Piazza Affari after the press rumors of an interest from the Ori Martin group from Brescia.
The shares of the group active in the components for the automotive industry rose by 4.69% to 1.564 euros, with a maximum reached at 1.588 euros, recording one of the best performances of the Milanese list, when the Ftse All Share slipped by 0.18% and the Ftse Mib of 0.15%.
Il Messaggero reports that, in recent days, the group active in the production of special steels Ori Martin has expressed an interest in tightening a downstream integration up to the possible integration of Sogefi.
According to the Roman daily, Cir, Sogefi's parent with 56.6%, denied the possibility of selling, while not excluding possible combinations that could favor synergies for the suspension division, indicating that there have been talks with the Brescia group in the past. in this sense.
In the meantime, the exchanges on Sogefi shares are decidedly sustained: over 590 thousand shares have changed hands, compared to an average of 234 thousand in the last thirty days for the entire session.
In 2019 Ori Martin recorded a turnover of 700 million, a margin of 50 million. The Brescia group represents one of the suppliers of steel products to the world leader in components for the automotive industry, with over 40 years of experience.
All the details.
SALE IN SIGHT FOR SOGEFI (CIR GROUP)?
The Brescia-based group, leader in the production of special steels, therefore expressed interest in making a downstream integration with Sogefi up to the possible acquisition.
"Sogefi, of which the holding company chaired by Rodolfo De Benedetti owns 56.6%, at yesterday's stock market values is worth just under 180 million: the controlling stake would cost about 100 million, plus the majority premium", writes Affaritaliani, reporting the news of the Messenger . “A possible acquisition would entail the obligation of a takeover bid”.
WHAT ORI MARTIN SPA DOES
Founded in 1933 ORI Martin Spa is today an electric furnace steel mill that produces special steels for various applications mainly in the automotive sector (bolts, suspension springs, torsion bars, steering and transmission components), mechanics, energy and construction.
The Brescia site produces continuous casting billets, hot rolled in roll and bar, pre-hardened wire. The company is also equipped with systems for annealing heat treatment and hardening of bars and rolls and at Trafilati Martin Spa, systems for chemical pickling and sandblasting of rolls.
THE PARTNERS
With a share capital of 20,000,000 euros, the Brescia group is 100% controlled by the sole shareholder Ori Martin SA.
In addition to the chairman Uggero De Miranda, the board of directors includes: the managing director Andrea Agnelli; Natale Gaudenzi; Giulio Gadaldi; Giovanni Marinoni; Giovanni Comboni; Roberto De Miranda; Carlo Garavaglia; Alessandro De Miranda and Guido Rivolta.
THE NUMBERS
Ori Martin Spa has 430 employees. In 2019 the group recorded a turnover of 406,959,519 euros, a decrease compared to the 443,048,954 euros of 2018. The profit also dropped to 23,274,748 euros (compared to 38,151,218 euros in 2018). The costs of production amounted to 396,906,854 euros.
The company boasts a total of tangible fixed assets worth € 113,916,300, and a total debt of € 178,071,760.
TREND OF PRODUCTION
As stated in the 2019 consolidated financial statements, the group consolidates a significant share of the European markets, especially in the production of special steels for the automotive sector.
The quantities produced were equal to 674,000 tons of steel and 409,000 tons of laminate. As reported above, turnover recorded a decline of approximately -8.2%, a result due to the average reduction in product sales prices (-9.6%), considering that the volumes sold remained stable overall (+1 , 9%).
THE REFERENCE MARKET
For Ori Martin Spa the reference market remains the European one. Direct exports amounted to 28% of turnover with a reduction compared to the previous year's results of -4.2%.
THE RECENT ACQUISITIONS
During 2019, the Brescia group made five acquisitions. It acquired 100% of the shares of Sapes Spa, a company specializing in the forging of special hot steels by means of an electric upsetting process.
It then completed the acquisitions of Ori Martin Deutschland Gmbh (100%), Ori Martin France Sàrl (100%), Trafileria Lariana Drawing Steels Spa (70%) and Lariana Annealing Steels Srl (70%).
Trafileria Lariana Drawing Steels Spa carries out the steel roll drawing business, aimed at customers operating in the automotive sector, but also in the furniture, household and electronics sectors.
Lariana Annealing Steels Srl deals with annealing, using bell furnaces, of wire rod coils.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/ori-martin-ecco-conti-e-business-del-gruppo-bresciano-che-mira-a-sogefi-cir/ on Tue, 15 Jun 2021 13:25:26 +0000.