Smemoranda Group approves the 2018 financial statements

In 2018, increased above Euro 60 million the consolidated production value of Smemoranda Group S.p.A. (formerly Gut Edizioni S.p.A.), the well-known holding company that started 40 years ago from the iconic Smemoranda diary-diary and has now become a leading multi-channel and multimedia operator active in the Stationery, Bags & Accessories and Media & Entertainment sectors.

On May 10, 2019, the Ordinary Shareholders’ Meeting of Smemoranda Group S.p.A. – and, in particular, the sole shareholder Kaya Fin S.r.l. – approved the statutory financial statements as at and for the year ended 31st December 2018 and examined the consolidated financial statements as at and for the year ended 31st December 2018, as approved by the Board of Directors on 29th March 2019.

In particular, the 2018 consolidated financial statements show a consolidated production value of Euro 60.5 million, up 23% compared to 2017. The growth of net consolidated revenues, equal to Euro 56.3 million, is also significant increased by 21.4% on the previous year. Consolidated EBITDA before non-recurring effects reaches Euro 4.6 million (+ 75.4% on 2017), with an incidence of 8.1% on net consolidated revenues, while consolidated EBITDA including non-recurring effects is Euro 4.8 million, with an improvement of 103.5% compared to 2017 and an incidence of 8.5% on net consolidated revenues. The growth in consolidated EBIT is even more marked, reaching Euro 1.8 million (compared to Euro 130 thousand in 2017). The consolidated net result, although still in a loss position of Euro 0.7 million, also shows a significant improvement compared to the prior year.

The statutory and consolidated financial statements as at and for the year ended 31st December 2018, together with the Independent Auditors’ report and the Board of Statutory Auditors’ report, are available to the public at the Company’s registered office and on the Company’s website (www.smemorandagroup.com).

The Group, after the Elite certification obtained by Borsa Italiana in 2017 and the listing at the beginning of 2019 on the Third Market of the Vienna Stock Exchange of a convertible bond loan for a nominal value of up to Euro 10 million, has now started preliminary and preparatory activities for listing of its shares on AIM Italia.

Smemoranda Group S.p.A. is the holding company of a Group that, from the origins of the iconic Smemoranda, has distinguished itself in recent years for a series of aggregations that led to the construction of a platform of brands and media contents characterized by a common value system, made of ethics, creativity, dynamism, innovation, becoming a leading multi-channel and multimedia operator active in the Stationery, Bags & Accessories sector and in the Media & Entertainment sector.

With the acquisitions of the Nava and MH Way brands, which took place respectively in 2016 and 2017, the Group started diversifying its offer, originally characterized by the Stationery sector, in particular Back-to-School, expanding the range of final consumers and turning to also to the world of work, leisure and travel, with a proposal aimed not only at the domestic market but also at the international one, taking advantage of the notoriety of the brands and an offer of products and contents characterized by design and creativity “made in Italy “.

The recent entry of Zelig in the portfolio of owned brands has further strengthened the process of strategic repositioning and organizational reorganization of Smemoranda Group, which has thus also entered the multimedia entertainment sector, sharing the popularity and capacity for generating content of Smemoranda.

Strong of the Smemoranda, Zelig, Nava, MH Way and Talent Manager brands – iconic and characterized by a high distinctive capacity – and thanks to the numerous contracts for the distribution and licensing of third-party brands (including Pantone, Eastpak, Rachael Hale, Peanuts, Scuola Zoo, Jurassic World, Harry Potter), today Smemoranda Group can legitimately be considered a multi-channel and multimedia platform able to create, promote and distribute products, services and media content to third-party companies and to a wide audience of loyal consumers.

Approved the financial statements as at and for the year ended 31st December 2018 of Smemoranda Group S.p.A.:
• Consolidated Value of production of Euro 60.5 million (rising 23.4% on the previous year)
• Net consolidated revenues of Euro 56.3 million (up 21.4% on the previous year)
• Consolidated EBITDA before non-recurring effects equal to Euro 4.6 million (rising 75.4% on 2017), with an incidence of 8.1% on net consolidated revenues
• Consolidated EBITDA including non-recurring effects equal to Euro 4.8 million (up 103.5% on 2017), with an incidence of 8.5% on net consolidated revenues
• Consolidated EBIT of Euro 1.8 million (up 1.291% on 2017)
• Consolidated net loss of Euro 0.7 million (significantly improved compared to 2017).

Financial statements 2018 – Complete version:
Smemoranda Group_Bil civ e cons_311218