Disclosure regarding the buyback of shares

Milan, 2 October 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 25 and 29 September 2023 it bought back, on the Euronext Milan market, 745,536 shares at an average unitary price of € 0.4120, for a total amount of € 307,139.25.

As of today, CIR S.p.A. is holding a total of 50,770,259 treasury shares, equal to 4.585% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 25 September 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 18 and 22 September 2023 it bought back, on the Euronext Milan market, 679,765 shares at an average unitary price of € 0.4070, for a total amount of € 276,632.65.

As of today, CIR S.p.A. is holding a total of 50,024,723 treasury shares, equal to 4.52% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 19 September 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 11 and 15 September 2023 it bought back, on the Euronext Milan market, 543,786 shares at an average unitary price of € 0.3985, for a total amount of € 216,705.86.

As of today, CIR S.p.A. is holding a total of 49,344,958 treasury shares, equal to 4.46% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 11 September 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 4 and 8 September 2023 it bought back, on the Euronext Milan market, 475,287 shares at an average unitary price of € 0.3995, for a total amount of € 189,862.85. As of today, CIR S.p.A. is holding a total of 48,801,172 treasury shares, equal to 4.41% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 4 September 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 28 August and 1 September 2023 it bought back, on the Euronext Milan market, 454,286 shares at an average unitary price of € 0.3992, for a total amount of € 181,342.43. As of today, CIR S.p.A. is holding a total of 48,325,885 treasury shares, equal to 4.365% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 28 August 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 21 and 25 August 2023 it bought back, on the Euronext Milan market, 293,372 shares at an average unitary price of € 0.3969, for a total amount of € 116,451.90. As of today, CIR S.p.A. is holding a total of 47,871,599 treasury shares, equal to 4.32% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 21 August 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 14 and 18 August 2023 it bought back, on the Euronext Milan market, 236,901 shares at an average unitary price of € 0.3962, for a total amount of € 93,867.72. As of today, CIR S.p.A. is holding a total of 47,578,227 treasury shares, equal to 4.30% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 31 July 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 24 and 28 July 2023 it bought back, on the Euronext Milan market, 658,152 shares at an average unitary price of € 0.4095, for a total amount of € 269,514.65.

As of today, CIR S.p.A. is holding a total of 46,203,365 treasury shares, equal to 4.17% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

CIR: results for first half 2023

Consolidated revenues € 1,223.1 million, up by 11.9% compared to first half 2022

Consolidated net income € 14.0 million

Significant growth in revenues and results of Sogefi

Ongoing sustained recovery of KOS’ activity

Further reduction in consolidated net debt to € 32.9 million (€ 81.8 million at 31 December 2022)

Net financial position of the parent company stable and positive for € 314.0 million

Milan, 31 July 2023 – The Board of Directors of CIR S.p.A. – Compagnie Industriali Riunite (“CIR”, the “Group” or the “Company”), which met today under the chairmanship of Rodolfo De Benedetti, has approved the Semi-Annual Financial Report as of 30 June 2023 presented by Chief Executive Officer Monica Mondardini.

Consolidated results

Although the environment remained complex, in the first half of 2023 the adverse phenomena that had in the last three years negatively affected the business sectors in which the Group operates became decidedly less severe: the healthcare emergency phase linked to the pandemic had ended, the tensions regarding the availability and prices of commodities and energy, which had worsened in the first half of 2022 with the onset of the Russian-Ukrainian conflict, but which do nevertheless remain, are in a phase of partial resolution and, lastly, the financial markets are showing a strong recovery after the very negative performance of 2022. However, the general inflationary dynamic has led to a significant increase in costs for services and personnel costs and the higher interest rates have increased financial expense for the subsidiaries, mitigated by the fact that a part of their funding is at a fixed rate and their overall debt has declined.

During the first half of the year, the group’s social healthcare sector (KOS) has been continuing steadily along the road to recovery of its business activity, which began in the middle of 2021 after the shock caused by the pandemic, with the prospect of returning to full capacity in 2024.  

The group’s automotive sector (Sogefi), which was negatively affected by the market collapse of 2020 and the commodities dynamics of 2021 and 2022, in the first half of the year 2023, in a context of a recovering market, particularly the European market, has reported strong growth of revenues and results, which in 2023 have been significantly above pre-pandemic levels.

The consolidated revenues of the Group came in at € 1,223.1 million, up by 11.9% compared to the first half of 2022, with positive dynamics in both sectors of the group’s business.

The consolidated gross operating margin (EBITDA) came to € 170.0 million, posting a rise of 15.4% on the same period of 2022, thanks to the higher revenues and profitability of both sectors in which the group operates.

The net result was € 14.0 million versus breakeven in the first half of 2022.  

The consolidated net financial debt before IFRS 16 fell to € 32.9 million at 30 June 2023 from € 81.8 million at 31 December 2022 and € 95.6 million at 30 June 2022, thanks to the reduction of the net debt of the subsidiaries, which in total amounted to € 346.9 million.  

The net financial position of the Parent Company of the Group (including the financial sub-holdings CIR Investimenti and CIR International) was significantly positive, standing at € 314.0 million; the slight reduction from the position of € 320.4 million at 31 December 2022 was due to the buyback of own shares for € 7.7 million during the period.

The consolidated net debt including the IFRS 16 payables amounted to € 910.9 million at 30 June 2023, including rights of use of € 878.0 million relating mainly to the subsidiary KOS (€ 812.7 million), which operates mostly in leased facilities.

The shareholders’ equity of the Group stood at € 747.3 million at 30 June 2023 (€ 743.4 million at 31 December 2022).

KOS

KOS’s business activity was strongly affected by the consequences of the pandemic in 2020 and 2021 but reported a gradual recovery as from the middle of 2021. In the first half of 2023 the Functional Psychiatric Rehabilitation sector returned to full operating capacity; the nursing homes sector has not yet reached full capacity but the trend is positive both in Italy and in Germany.

The results of first half 2023 were impacted by the rise in the cost of healthcare personnel and procurement, particularly in Germany where this impact is currently being absorbed with gradual adjustments to tariffs and with the deflation of energy costs.

Revenues for the first half of 2023 totalled € 370.7 million, with a rise 9.9% on the first half of 2022, thanks to the recovery in all sectors: nursing homes (RSAs) in Italy, +13.2%, and in Germany, +15.8%, where the increase in revenues was also driven by significant increases in tariffs, as well as Functional and Psychiatric Rehabilitation (+6.4%).

EBIT came to € 20.8 million, posting an increase of € 10.1 million compared to the EBIT of the first half of 2022 (€ 10.7 million), thanks to the increased business activity and the recovery of operating efficiency despite the inflation of costs and the discontinuation of the significant support guaranteed by the German healthcare system to healthcare operators until July 2022.

The net result was a positive € 0.8 million, versus – € 2.9 million in first half 2022.

Free cash flow, before the application of IFRS16, was positive for € 16.4 million; non-recurring income of € 36.3 million was reported (from the sale of the Indian operation in the Diagnostics and Oncological Treatments sector and of certain properties in Italy), and a negative operating cash flow of approximately € 20.0 million, due to the increase in working capital of approximately € 25.0 million, which should be absorbed at least in part during the year.

Net debt, excluding the payables resulting from application of accounting standard IFRS16, totalled € 161.9 million at the end of June 2023, down from € 178.3 million at 31 December 2022 and € 192.9 million at 30 June 2022.

On 28 June 2023 the sale was completed of the Diagnostics and Cancer Care subsidiary in India, concluding the strategic refocusing process undertaken in 2020 with the sale of Medipass. The price, or equity value, of the sale was € 18.8 million.

Sogefi

In a context of global growth in car production of 11.2% compared to the equivalent period of 2022 with progress achieved in all geographical areas and a strong recovery in Europe, in the first six months of 2023 Sogefi’s consolidated revenues came in at € 852.4 million, recording growth of 12.8% and 14% at constant exchange rates. This reflects the increase in production volumes (+9.4%) and selling prices (+4.2%). Sogefi outperformed the market in NAFTA, China and India.

EBIT, amounting to € 54.8 million, increased by 35.6%, with an EBIT margin of 6.4% of revenues, up from 5.3% in the first half of 2022. All business lines reported higher profitability thanks to volumes and to the fact that margins held up despite the impact that inflation had on costs.

Net income was € 31.4 million (+51% from € 20.8 million in the first half of 2022).

Free cash flow was positive for € 45.0 million, including factoring (€ 41.2 million at 30 June 2022).

Net debt (before IFRS16) stood at € 185.3 million at 30 June 2023 down from € 224.3 million at 31 December 2022.

The customer portfolio also performed positively with 32% of the value of new contracts destined for hybrid and electric platforms, with high growth potential.

Financial management

In the first half of the year global equity and bond markets reported a recovery after the very negative performances of 2022 and bond yields turned positive again after the central banks raised interest rates several times in order to counter inflation.

The management of the financial assets of the parent company and the financial subsidiaries gave slightly positive financial income (€ 0.9 million, with a return of 0.2% for the period) that compares with a negative € 5.1 million in the first half of 2022. More specifically, the overall return on liquid assets (shares, bonds, hedge funds) was 0.8%, while the remaining part of the portfolio (Private Equityand minority shareholdings) recorded a negative return of 2.2%, due partly to the unfavourable evolution of the euro/dollar exchange rate.

Significant events that have occurred since 30 June 2023

Since the close of the period there have been no significant events that could have an impact on the economic, patrimonial and financial information reported.

Outlook for the year

Visibility as to the trend of the businesses of the CIR Group in the coming months remains limited due to the uncertainties regarding the evolution of the macroeconomic scenario in a context of high inflation and still rising interest rates.

As far as KOS is concerned, operations are expected to return to full capacity in the Rehabilitation and Acute sectors during the current year while for nursing homes in Italy and Germany the trend of increasing occupancy has yet to be consolidated and it is expected that this will lead to full operational capacity between the end of 2023 and the beginning of 2024.  Because of the inflationary dynamics that have characterized the sector and particularly the rise in the cost of healthcare personnel, in order for profitability to recover there needs to be a gradual adjustment of tariffs both in Italy and in Germany, a subject currently under discussion between business associations and the institutions affected. Assuming there are no further factors or circumstances, unpredictable as of today, that could make the context even more complex than it is at present, the operating results of KOS for the whole year should be significantly higher than those of last year.

As for Sogefi, visibility as to the automotive market trend in 2023 again remains limited due to uncertainties regarding the evolution of the macroeconomic scenario. For 2023 S&P Global (IHS) expects world car production to grow by 5.3% on 2022, with Europe at +11.8%, NAFTA at +8.2%, India at +7.2% and South America and China substantially unchanged. As far as raw materials and energy are concerned, since the beginning of the year 2023 prices have been trending downwards but they remain high and very volatile. Assuming there are no further factors that could cause a deterioration of the macroeconomic scenario from today’s levels, for 2023 Sogefi expects to see mid-single-digit revenue growth, in line with forecasts for the automotive market, and higher profitability, excluding non-recurring charges, than that of 2022.

As for financial asset management, despite the better performance of the financial markets in the first half of the year, given the uncertainties linked to the macroeconomic and financial scenarios, it is expected that conditions of high volatility will remain in the second half of the year as well.

Disclosure regarding the buyback of shares

Milan, 24 July 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 17 and 21 July 2023 it bought back, on the Euronext Milan market, 588,897 shares at an average unitary price of € 0.4033, for a total amount of € 237,511.54.

As of today, CIR S.p.A. is holding a total of 45,545,213 treasury shares, equal to 4.11% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Sogefi: results for first quarter 2023

Revenues up by 12.8% to € 852.4 million

EBIT: € 54.8 million, +35.6%

Net income € 31.4 million (€ 20.8 million in first half 2022)

Free Cash Flow positive for € 45.0 million (€ 41.2 million in first half 2022)

Debt before IFRS 16 reduced to € 185.3 million (€ 216.4 million at end of June 2022)

Milan, 24 July 2023 – The Board of Directors of Sogefi S.p.A., which met today under the chairmanship of Monica Mondardini, has approved the group’s Semi-Annual Financial Report as of 30 June 2023, presented by Chief Executive Frédéric Sipahi.

Sogefi, a company of the CIR Group, is one of the main producers worldwide of automotive components in the sectors of Air and Cooling, Filtration and Suspensions.

PERFORMANCE OF THE MARKET

In the first half of 2023 world vehicle production reported growth of 11.2% compared to the same period of 2022, with progress made in all geographical areas.

Growth was particularly strong in Europe (+20.2%) and NAFTA (+12.2%) and significant in Mercosur (+9.7%), India (+6.5%) and China (+7%), where, after a negative first quarter of 2023 (-4.7%), there was a distinct recovery in the second quarter (+20.3%). 

For 2023, S&P Global (IHS), a source widely used in the sector, expects that world production will grow by 5.3% compared to 2022, with an increase in all the main geographical areas. The reduction in the growth index forecast for the full year compared with that reported in the first half of the year is due to the strong recovery of production seen in the second half of 2022.

KEY FIGURES OF SOGEFI’S PERFORMANCE IN THE FIRST HALF OF 2023

The consolidated revenues of the Group recorded double-digit growth compared to the first half of 2022 (+12.8% and +14% at constant exchange rates), which reflects the increase in production volumes (+9.4%) and in selling prices (+4.2%).

The results were positive and significantly better than those of first half 2022:

  • EBITDA came in at € 111.1 million and was up by 11.3% on first half 2022, thanks to the growth in volumes and the contribution margin holding up well;
  • EBIT, totalling € 54.8 million, rose by 35.6%, with the EBIT margin at 6.4% of sales, up from 5.3% in first half 2022;
  • Net income was € 31.4 million (+ 51% from € 20.8 million in first half 2022);
  • Free cash flow was positive for € 45.0 million (€ 41.2 million in first half 2022);
  • Net debt (before IFRS 16) stood at € 185.3 million at 30 June 2023, down from € 216.4 million at the end of June 2022.

Commercial activity was positive with an important part of contracts being for E-mobility (32% of the value of new contracts acquired in the first half) with significant new contracts awarded in China, India and the United States too.  

Filtration signed important agreements in Europe both for the OEM (Original Equipment Manufacturers) and the IAM (Independent Automotive Aftermarket) channels: it gained contracts for the supply of filters for truck brake circuits and signed an exclusivity agreement for three years with one of the principal leaders in the distribution of automotive parts in the Aftermarket channel. Development has been continuing in India too, where the business unit is gradually gaining market share.

Suspensions obtained new business in the Indian market with local operators, signing a contract in particular for the supply of stabilizer bars for light commercial vehicles with an innovative player aspiring to becoming one of the principal E-mobility producers in the Indian market. The division also obtained various contracts in Europe, particularly for the supply of stabilizer bars for top-of-the-range electric SUVs and for coil springs for E-mobility platforms.

Air and Cooling is continuing to develop in China, with the receipt of an important order from BYD for the supply of air manifolds for a Plug-in-Hybrid platform and a contract for the supply of oil manifolds used in electric cars to lubricate the inside of the gearbox. Sogefi can offer these components, which are traditionally made of metal, in plastic which gives a weight reduction and optimizes design and cost. Contracts have also been signed in North America for the supply of thermal management products and in Europe for thermostat groups for E-mobility and intake manifolds. 47% of the value of the new contracts signed in 2023 by the Air and Cooling division were for parts destined for E-mobility platforms.

CONSOLIDATED RESULTS FOR FIRST HALF 2023

The revenues for the first half of 2023 totalled € 852.4 million, posting growth of 12.8% at current exchange rates and 14% at constant exchange rates on the corresponding period of 2022.   

Revenues recorded growth in all geographical areas: +14% in Europe, +15.8% in North America (+17.2% at constant exchange rates), +5.6% in South America (+3.9% at constant exchange rates net of inflation in Argentina), +10.3% in India (+17.7% at constant exchange rates), +2.3% in China (+8.2% at constant exchange rates).

Sogefi outperformed the market in North America, India and China.

Suspensions reported growth in revenues of 15.4% (+15.7% at constant exchange rates).

Filtration reported an 11% rise in revenues (+12.4% at constant exchange rates), with particularly significant growth in the Aftermarket channel in Europe (+13.6%), North America and India.

Air and Cooling revenues were up by 12.2% (+14.4% at constant exchange rates), with a particularly significant increase in NAFTA (+18.5% at constant exchange rates).

EBITDA came in at € 111.1 million and was up by 11.3% compared to first half 2022 (€ 99.8 million). 

The contribution margin increased by 12.9% compared to the first half of 2022, thanks to the higher volumes and to profitability (ratio of contribution margin/revenues %) which was unchanged at 28.1% compared to 2022, despite the extra costs linked to energy prices and in general to inflation.

The ratio of fixed costs to revenues declined to 14.3% from 14.9% in the first half of 2022.

Other expense, which mainly includes exchange rate differences, made a negative contribution to EBITDA of € 3.8 million versus a positive contribution of € 3.9 million in the first half of 2022.   

EBIT came to € 54.8 million, posting growth of 35.6% compared to € 40.4 million in first half 2022. The ratio to revenues increased from 5.3% in first half 2022 to 6.4% in first half 2023. 

Financial expense totalled € 11.0 million and was higher than in the first half of 2022 (€ 9.1 million) because the rise in interest rates affected the variable-rate part of the loan portfolio.

Tax expense was substantially unchanged at € 10.8 million (€ 10.3 million in the same period of 2022).

The group reported net income of € 31.4 million (€ 20.8 million in the first half of 2022).

Free Cash Flow was positive for € 45.0 million (€ 41.2 million in first half 2022), including the effect of the greater recourse to factoring on account of the increase in revenues.

At 30 June 2023 shareholders’ equity, excluding minority interests, stood at € 258 million, up from € 230.7 million at 31 December 2022.

Net financial debt before IFRS 16 totalled € 185.3 million at 30 June 2023, down from € 224.3 million at 31 December 2022 and € 216.4 million at 30 June 2022. Including the financial payables for rights of use, in accordance with IFRS 16, the net financial debt at 30 June 2023 amounted to € 250.6 million, versus € 294.9 million at 31 December 2022 and € 285.2 million at 30 June 2022. 

At 30 June 2023 the Group had committed credit lines in excess of its requirements for € 284.0 million.

SIGNIFICANT EVENTS THAT HAVE OCCURRED SINCE 30 GIUGNO 2023

Since the close of the period there have been no significant events that could have an impact on the economic, patrimonial and financial information presented herein.

OUTLOOK FOR THE YEAR

Visibility as to the automotive market trend in 2023 remains limited due to the uncertainties relating to the macroeconomic evolution in a context of high inflation and still rising interest rates.

For 2023, S&P Global (IHS) expects global car production to grow by 5.3% on 2022, with Europe up 11.8%, NAFTA up 8.2%, India up 7.2% and South America and China substantially unchanged.

As far as raw materials and energy are concerned, since the beginning of the year prices have been trending downwards, but they remain high and very volatile.

Assuming there are no further factors that could cause a deterioration of the macroeconomic scenario from today’s levels, for 2023 the Sogefi Group expects to see mid-single-digit revenue growth, in line with forecasts for the automotive market, and higher profitability, excluding non-recurring charges, than that of 2022.

Disclosure regarding the buyback of shares

Milan, 17 July 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 10 and 14 July 2023 it bought back, on the Euronext Milan market, 529,546 shares at an average unitary price of € 0.4004, for a total amount of € 212,027.97.

As of today, CIR S.p.A. is holding a total of 44,956,316 treasury shares, equal to 4.06% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 10 July 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 3 and 7 July 2023 it bought back, on the Euronext Milan market, 631,620 shares at an average unitary price of € 0.3876, for a total amount of € 244,814.56.

As of today, CIR S.p.A. is holding a total of 44,426,770 treasury shares, equal to 4.01% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 3 July 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 26 and 30 June 2023 it bought back, on the Euronext Milan market, 343,600 shares at an average unitary price of € 0.3740, for a total amount of € 128,523.13.

As of today, CIR S.p.A. is holding a total of 43,795,150 treasury shares, equal to 3.955% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 26 June 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 19 and 23 June 2023 it bought back, on the Euronext Milan market, 616,903 shares at an average unitary price of € 0.3717, for a total amount of € 229,331.23.

As of today, CIR S.p.A. is holding a total of 43,451,550 treasury shares, equal to 3.92% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 19 June 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 12 and 16 June 2023 it bought back, on the Euronext Milan market, 518,529 shares at an average unitary price of € 0.3803, for a total amount of € 197,189.31.

As of today, CIR S.p.A. is holding a total of 42,834,647 treasury shares, equal to 3.87% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 12 June 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 5 and 9 June 2023 it bought back, on the Euronext Milan market, 656,242 shares at an average unitary price of € 0.3706, for a total amount of € 243,207.24.

As of today, CIR S.p.A. is holding a total of 42,316,118 treasury shares, equal to 3.82% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 5 June 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 29 May and 2 June 2023 it bought back, on the Euronext Milan market, 530,549 shares at an average unitary price of € 0.3691, for a total amount of € 195,833.92.

As of today, CIR S.p.A. is holding a total of 41,659,876 treasury shares, equal to 3.76% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 29 May 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 22 and 26 May 2023 it bought back, on the Euronext Milan market, 514,000 shares at an average unitary price of € 0.3704, for a total amount of € 190,385.90. As of today, CIR S.p.A. is holding a total of 41,129,327 treasury shares, equal to 3.715% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 22 May 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 15 and 19 May 2023 it bought back, on the Euronext Milan market, 579,277 shares at an average unitary price of € 0.3743, for a total amount of € 216,826.25.

As of today, CIR S.p.A. is holding a total of 40,615,327 treasury shares, equal to 3.67% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 15 May 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 8 and 12 May 2023 it bought back, on the Euronext Milan market, 637,774 shares at an average unitary price of € 0.3755, for a total amount of € 239,475.61.

As of today, CIR S.p.A. is holding a total of 40,036,050 treasury shares, equal to 3.62% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 8 May 2023 – Following the resolution of the Board of Directors on 28 April 2023 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 28 April 2023, CIR S.p.A. announces that between 2 and 5 May 2023 it bought back, on the Euronext Milan market, 762,531 shares at an average unitary price of € 0.3812, for a total amount of € 290,660.46.

As of today, CIR S.p.A. is holding a total of 39,398,276 treasury shares, equal to 3.56% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf

Disclosure regarding the buyback of shares

Milan, 2 May  2023 – Following the resolution of the Board of Directors on 12 September 2022 on the continuation of the share buyback plan launched on 16 March 2022, in accordance with and in execution of the authorization granted by the Shareholders’ Meeting on 12 September 2022, CIR S.p.A. announces that between 24 and 28 April 2023 it bought back, on the Euronext Milan market, 526,822 shares at an average unitary price of € 0.3845, for a total amount of € 202,560.10.

As of today, CIR S.p.A. is holding a total of 38,674,899 treasury shares, equal to 3.49% of its share capital. The subsidiaries of CIR do not own any shares in the Company.

download pdf