Borgosesia, active in the sector of investments in non-performing and alternative assets in general, approved the 2021 financial statements, proposed a higher dividend than 2020, signed a partnership with Ddm Invest III AG and sold almost 2 million own shares to investors Brescia. Last year the group achieved a net profit of € 7.87 million (+ 56% year on year), with a production volume (including realignments to fair value of the loan and real estate portfolio) and a gross margin of operating activities of 18.5 million and 15 million respectively, an adjusted ebitda of 12 million (+ 77%), a positive cash flow of 5.5 million (compared to 1.4 million in 2020) and debt net of 27.5 million. Proposal to
Among the data for 2021, the realization of investments already in the portfolio for 21.8 million (+ 107%) and the achievement of new investments for 22.2 million (+ 104%), of which 16.5 million for the purchase with “reposses strategy” of single name non-performing mortgage loans equal to 36.1 million nominally, 3.8 million for the direct purchase of properties in the context of special situations and 1.9 million for the purchase with a collection strategy of single name non-performing mortgage loans nominally equal to 4.8 million.
The group has, on the one hand, continued the activities historically linked to direct investments (in which it holds the role of sole or main investor) and, on the other hand, has significantly accelerated the increase in the weight of co-investment activities with third parties combined with the management of the related assets.
On the basis of the elements available today, the operating performance for the current year is expected to be in profit and in line with the forecasts formulated in the business plan to 2026 which provides for new investments for a total of 131 million, mostly to be made through the ” purchase of properties under construction, their completion and subsequent split sale.
The company also announced that, in continuity with the provisions of the memorandum of understanding signed last December, it signed with Ddm Invest III AG, a company belonging to the Ddm group, whose parent company Ddm Holding AG is listed on the Nasdaq First North Growth Market of Stockholm, a strategic, industrial and financial partnership aimed at developing investments in distressed assets and non-performing real estate loans.
The agreement has a duration of three years and provides for investments of 100 million to be realized through securitisations, the notes of which will be subscribed for a maximum of 20% by Borgosesia and, for the remainder, by Ddm. As part of this, Borgosesia exclusively provides all the real estate services connected to the individual interventions as well as those of special servicers in relation to the credits acquired.
Finally, the board of directors resolved to sell the last 1,979,037 treasury shares held in the portfolio to a group of Brescia investors, equal to 4.147% of the company’s share capital, at a price of 0.6894 euro (higher than the arithmetic average of the prices of Boorgosesia stock exchange in the 12 months prior to the sale and equal to the official price of the previous day reduced by approximately 5%). Today in Piazza Affari the Borgosesia stock is quoted on the par at 0.748 euros per share. (All rights reserved)

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