Vecchioni (BF) makes Vecchioni, Eni, Intesa Sanpaolo, Dompé and more rejoice
How are the BF Group's accounts going? The 2024 budget data approved by the assembly, the new board of directors and the role of Federico Vecchioni
Brilliant accounts for the BF group, whose profits make its major shareholders happy: Federico Vecchioni, Eni, Intesa Sanpaolo, Dompé, Inarcassa and Ismea.
Here are all the details.
WHAT THE BF ASSEMBLY DECIDED
In the past few days, the ordinary shareholders' meeting of BF approved the company's financial statements for the year ended December 31, 2024. The distribution of a dividend of 0.076 euros per share, equal to a total of 19.9 million, was approved.
WHAT IS BF GROUP AND WHAT DOES IT DO?
BF is the reference operator in the agro-industrial supply chain. The group's companies, "by exploiting cutting-edge systems in the field of precision agriculture, guarantee food safety, traceability of production processes and the satisfaction of customers and end consumers and offer technologically advanced goods and services to farmers, generating value through the control of the entire agro-industrial supply chain", as stated on the company website.
BF'S NUMBERS
Consolidated production value increased from 1,387 million in 2023 to 1,505 million in 2024. Consolidated EBITDA increased from 75 million euros in 2023 to 100 million euros in 2024. The growth recorded is attributable, in addition to the expansion of the consolidation area, to the effects of integration with the investee companies.
OTHER RESOLUTIONS OF THE ASSEMBLY
The new Board of Directors was also appointed and the assignment of the statutory audit assignment for the period 2026-34 was approved.
Finally, the authorization for the Board of Directors to purchase 631,838 ordinary shares of the company to service remuneration and incentive plans was approved.
ENTHUSIAST MEMBERS AND THE ROLE OF VECCHIONI
The dividend satisfies the shareholders: there are important names in the shareholding structure of BF, as can be seen from the following table. The linchpin of the group, beyond the positions, is the entrepreneur Federico Vecchioni (reconfirmed in the board of directors of BF by the last assembly, in the past also a leading figure of Confagricoltura, recently also passionate about the world of publishing since he has become through one of his companies a shareholder of the daily newspaper La Verità founded and directed by Maurizio Belpietro, also enjoys the support of the daily newspaper of the Angelucci group and is also esteemed (not by chance he was a guest at the party of the daily newspaper Domani ) by Carlo De Benedetti also for some ongoing corporate relations, as the financial journalist Andrea Giacobino often points out on social media.
WHO ARE BF SHAREHOLDERS
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BF'S PRESS RELEASE
The Ordinary Shareholders' Meeting of BFSpA (“BF” or the “Company”) met today, in a single call, at the Notary's Office Marchetti in Milan, via Agnello n. 18, under the chairmanship of Prof. Michele Pisante, in his capacity as Chairman of the Board of Directors.
Financial statements as of December 31, 2024. Consolidated financial statements and consolidated sustainability reporting as of December 31, 2024.
The Shareholders' Meeting approved the Company's financial statements for the year ended December 31, 2024, as proposed by the Board of Directors on April 24, 2025 and disclosed to the public with a press release on the same date.
Consolidated production value increased from 1,387 million Euros in 2023 to 1,505 million Euros in 2024. Consolidated EBITDA increased from 75 million Euros in 2023 to 100 million Euros in 2024. The growth recorded is attributable, in addition to the expansion of the consolidation area, to the effects of integration with the investee companies.
The Assembly took note of the consolidated financial statements and consolidated sustainability reporting as of 31 December 2024.
Allocation of the operating profit and distribution of a dividend of Euro 0.076 per share
The Shareholders' Meeting resolved:
• to allocate the operating profit of Euro 42,784,440.02 as follows:
– as for Euro 1,454,740.00, to the “Non-distributable profit reserve”, unavailable pursuant to art. 6, paragraph 1, letter a) of Legislative Decree no. 38/2005;
– as for Euro 2,139,222.00 to the Legal Reserve;
– as for Euro 19,287,340.30 to “Reserve of Profits available for distribution”;
– as for Euro 19,903,137.72 to the Shareholders as a dividend, equal to Euro 0.076 per share for each of the 261,883,391 shares currently in circulation.
• to provide that the dividend will be paid with an ex-dividend date of 7 July 2025 (ex-dividend date number 10), record date of 8 July 2025 and payment date of 9 July 2025.
Report on the remuneration policy and compensation paid
The Shareholders' Meeting approved the first section of the report on the remuneration policy and compensation paid, drawn up pursuant to Articles 123-ter of the Consolidated Law on Finance and 84-quater of the Issuers' Regulation, and expressed a favorable advisory vote on the second section of the same report.
Appointment of the Board of Directors for the three-year period 2025-2027 and determination of the related compensation
The Assembly appointed the new Board of Directors for the three-year period 2025-2027 and, therefore, until the Assembly convened for the approval of the budget at 31 December 2027.
Following the vote, the following were appointed:
1. Federico Vecchioni*;
2. Rossella Locatelli*;
3. Gianluca Lelli*;
4. Barbara Saltamartini*;
5. Sara Zanotelli*;
6. Luigi Ciarrocchi*;
7. Gabriella Fantolino*;
8. Carlo Boni Brivio*;
9. Riccardo Bovino*;
10. Giuseppe Andreano**;
11. Maria Teresa Bianchi**.
* taken from the list presented by the shareholder ARUM SpA, holder of 24.76% of the voting rights, which obtained 64.11% of the votes cast at the Meeting and was therefore the most voted list;
** taken from the list presented by the shareholder Dompé Holdings srl, owner of 29.20% of the voting rights, which obtained 30.18% of the votes cast at the Meeting and was therefore the second most voted list.
Maria Teresa Bianchi, Carlo Boni Brivio, Luigi Ciarrocchi, Gabriella Fantolino, Rossella Locatelli, Barbara Saltamartini and Sara Zanotelli have declared that they meet the independence requirements set forth in art. 148 TUF and the Corporate Governance Code. The characteristics of the directors in terms of executive status and membership of internal committees will be communicated following their determination by the Board.
The CVs of the directors appointed by the Shareholders' Meeting today are available at the registered office, on the Company's website www.bfspa.it and on the authorized storage mechanism "1info" (www.1info.it).
The Assembly resolved to approve a remuneration of a total of Euro 330,000, gross of withholdings and legal accessories, where applicable, pro rata temporis and during the mandate, for each financial year, in addition to the reimbursement of expenses listed below, delegating the Board of Directors to distribute them pursuant to art. 2389, paragraph 3 of the Civil Code, without prejudice to any compensation for Directors invested with particular roles that may be attributed by the Board of Directors pursuant to art. 2389, paragraph 3 of the Civil Code.
It is specified that, according to the information made available to the Company, at the time of his appointment, the director Dr. Federico Vecchioni holds, through ARUM SpA and Elfe srl, shares representing 24.15% of the share capital of the Company.
Approved the assignment of the statutory audit assignment for the period 2026-2034.
The Assembly resolved to assign the auditing firm KPMG SpA the task of legally auditing the accounts for the financial years 2026-2034, approving the related resolution proposal formulated by the Board of Directors which adhered to the first preference contained in the reasoned recommendation of the Board of Auditors as the committee for internal control and accounting audit.
Authorization approved for the Board of Directors to purchase a maximum of 631,838 ordinary shares of the Company to service remuneration and incentive plans
The Shareholders' Meeting, after revoking the authorization to purchase treasury shares resolved on May 10, 2023, resolved to authorize the Board of Directors, pursuant to Article 2357, paragraph 2, and 2357-ter, paragraph 1, of the Civil Code, to purchase a maximum of 631,838 ordinary shares of the Company and to perform acts of disposal of the same to service the long-term remuneration and stock incentive plan called “LTIP 2023 2025” as well as any additional remuneration and incentive plans that may be approved.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/vecchioni-bf-approvazione-bilancio-2024/ on Tue, 10 Jun 2025 08:09:22 +0000.