Exprivia S p A : The Board of Directors of Exprivia approves the disclosure of management data for the third quarter of 2020

PRESS RELEASE

THE BOARD OF DIRECTORS OF EXPRIVIA APPROVES THE

DISCLOSURE OF MANAGEMENT DATA FOR THE

THIRD QUARTER OF 2020

November 13, 2020.The Board of Directors of Exprivia S.p.A.- a company listed on the MTA market of Borsa Italiana [XPR.MI] -, met today, examined the information on the management data as at 30 September 2020 of the Issuer and its group. The Board has not been able to examine and approve the third quarter interim report at 30 September 2020 for the well-known events affecting the subsidiary Italtel S.p.A. (see press release released to the market on May 18, 2020), given, moreover, that Italtel obtained a further extension by the Tribunale di Milano for the filing of the proposal for a final composition with creditors, at 5ThFebruary 2021, pursuant to article 9, paragraph 4 of D.L. 23/2020.

In this situation and in order to inform the market about the performance of the Exprivia Group, the Board of Directors of Exprivia has decided to authorize the release to the market of management data relating to the third quarter of 2020.

The IT operating sector, namely Exprivia Group net of the subsidiary Italtel, closed at 30 September 2020 with revenues slightly growing of 119.8 million, compared to 118.8 million the same period of 2019 with an increase of about 1 million equal to 0.8%. Considering margins, the 30 September 2020 ended with an Ebitda of 14.3 million compared to 11.3 million the same period of 2019 with an increase of about 3 million equal to 26.4%. The pre-tax profit almost doubled standing at Euro 7.0 million, compared to 3.8 million in the same period of 2019 without considering the write-down of the investment in Italtel, already accounted for in the previous year, with an increase of about 3.2 million equal to 84.8%. The net financial position at 30 September 2020 it is equal to -49.6 compared to -43.9 at 31 December 2019.

Below is a table summarizing the above mentioned data:

Exprivia Group excluding Italtel					Variations q3	Variations %	Variations	Variations %
Q3 2020	Q3 2019	30.09.2020 30.09.2019	2020 vs q2	q3 2020 vs q2	30.09.2020 vs	30.09.2020 vs
Group (value in thousand euros)
				2019	2019	30.09.2019	30.09.2019
Revenues	38,561	39,323	119,772	118,798	(762)	-1.9%	973	0.8%
EBITDA	6,483	5,100	14,268	11,285	1,384	27.1%	2,983	26.4%
EBIT	4,911	(21,467)	9,574	(18,471)	26,378	-122.9%	28,046	-151.8%

Exprivia Group excluding Italtel Group	30.09.2020	31.12.2019	Variations	Variations %
(value in thousand euros)
Net financial position	(49,649)	(43,892)	(5,758)	-13.1%

In order to provide as much information as possible to the market, profit and loss statements and the balance sheet of the IT Operating Sector as well as the detailed schedule of the net financial position are also attached.

Below are the debt positions of the IT Operations Sector with evidence of overdue items;

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PRESS RELEASE

amount in thousand euros	Exprivia Group excluding Italtel Group
	30.09.2020
Debt positions	Total debts	of which expired
Financial	60,996	-
Commercial	26,669	12,360
Social Security	6,259	-
Tributary	4,912	-
Payables to employees	18,013	-

All payables due as at 30 September 2020 were included in the past due items.

Finally, the items of receivables and payables outstanding with the Italtel Group are shown below:

amount in thousand Euro
Receivables from Italtel Group	30.09.2020
Exprivia SpA	2,389
Other Group companies	190
Total	2,579
amount in thousand Euro
Payables to Italtel Group	30.09.2020
Exprivia SpA	7,139
Commercial debts	2,308
Other current payables	4,744
Current financial payables IFRS 16	87
Other Group companies	364
Commercial debts	0
Current financial payables IFRS 16	110
Non-current financial payables IFRS 16	254
Total	7,503

Other current payables include payables related to the items found in the Group VAT and the tax consolidation. These items are paid to the parent company on the basis of the relevant regulations approved by the respective Boards of Directors.

The main data relating to the issuer's performance at 30 September 2020 are shown below:

					Variations	Variations %	Variations	Variations %
Exprivia SpA					30.09.2020	30.09.2020
Q3 2020	Q3 2019	30.09.2020 30.09.2019	Q3 2020 vs	Q3 2020 vs
(value in thousand Euro)	vs	vs
				Q3 2019	Q3 2019
					30.09.2019	30.09.2019
Revenues	34,690	34,707	107,405	104,042	(17)	-0.05%	3,363	3.2%
EBITDA	6,285	4,921	14,336	11,142	1,364	27.7%	3,194	28.7%
EBIT	4,825	(21,536)	9,950	(18,302)	26,361	-122.4%	28,252	-154.4%

Exprivia SpA	30.09.2020	31.12.2019	Variations	Variationsi %
(value in thousand Euro)
Net financial position	(49,548)	(45,665)	(3,883)	-8.5%
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PRESS RELEASE

As can be seen, the results in terms of revenues show an increase of 3.2%, the EBITDA is equal to 14.3 million Euro compared to 11.1 million Euro the same period of 2019. The net financial position is equal to -49.5 million Euro compared to -45.7 million Euro at 31 December 2019.

The debt positions of Exprivia S.p.A. are shown below, highlighting that all payables due as at 30 September 2020 are recorded as past due.

amount in thousand Euro	Exprivia SpA
30.09.2020
Debt positions	Total debts	of which expired
Financial	62,369
Commercial	26,829	11,262
Social Security	5,535
Tributary	4,454
Payables to employees	15,638

With regard to receivables and payables to Italtel S.p.A. and other Italtel Group companies, please refer to the table above.

The Italtel Group's figures at 30 September 2020 are shown below. These figures have been calculated on a going concern basis, while highlighting the significant uncertainties arising from the situation pursuant to Article 2447 of the Italian Codice Civile in which Italtel S.p.A. finds itself and the application for a white composition with creditors filed by the same pursuant to Art. 161 of the bankruptcy law. The TLC operating segment of the Italtel subsidiary closed at 30 September 2020 with revenues of Euro 174.9 million compared to Euro 255.2 million the same period of 2019. Ebitda is equal to Euro -4.8 million compared to Euro 7.7 million the same period of 2019. The net financial position is equal to -173.5 million Euro compared to -182.5 million at 31 December 2019.

Below is a table summarizing the above mentioned data:

Italtel Group					Variations Q3	Variations %	Variations	Variations %
Q3 2020	Q3 2019	30.09.2020 30.09.2019	2020 vs Q3	Q3 2020 vs	30.09.2020 vs	30.09.2020 vs
(value in thousand Euro)
				2019	Q3 2019	30.09.2019	30.09.2019
Revenues	66,993	80,631	174,906	255,222	(13,638)	-16.9%	(80,316)	-46.0%
EBITDA	3,388	3,209	(4,769)	7,671	179	5.6%	(12,440)	-278.8%

Italtel Group	30.09.2020	31.12.2019	Variations	Variations %
(value in thousand Euro)
Net financial position	(173,543)	(182,476)	8,933	4.9%

Here follows the debt positions of the Italtel Group with evidence of the past due amounts:

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PRESS RELEASE

amount in thousand Euro	Italtel Group
30.09.2020
Debt positions	Total debts	of which expired
Financial	193,093	9,745
Commercial	163,720	107,775
Social Security	3,167	1,266
Tributary	3,043	1,077
Payables to employees	17,502	2,791

Finally, data relating to Italtel S.p.A. are reported. The following figures have been calculated on a going concern basis, while underlining the significant uncertainties arising from the situation pursuant to Article 2447 of the Italian Codice Civile and the application for a white composition with creditors pursuant to the bankruptcy law.

Italtel SpA					Variations Q3	Variations %	Variations	Variations %
Q3 2020	Q3 2019	30.09.2020	30.09.2019	2020 vs Q3	Q3 2020 vs 30.09.2020 vs 30.09.2020 vs
(value in thousand Euro)
				2019	Q3 2019	30.09.2019	30.09.2019
Revenues	48,530	46,548	118,372	163,324	1,982	4.3%	(44,952)	-27.5%
EBITDA	3,899	327	(3,556)	4,232	3,572	1092.4%	(7,788)	-184.0%

Italtel SpA (value in thousand Euro)	30.09.2020	31.12.2019	Variations	Variations %
Net financial position	(187,248)	(188,903)	1,655	0.9%

As already seen for the TLC Operating Sector, revenues and margins are down sharply.

With regard to Italtel S.p.A.'s debt positions, the table below provides details of these and the related positions past due at September 30, 2020:

amount in thousand Euro	Italtel SpA
30.09.2020
Debt positions	Total debts	of which expired
Financial	197,320	9,745
Commercial	143,974	102,205
Social Security	2,380	1,266
Tributary	1,799	1,077
Payables to employees	15,633	2,791

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PRESS RELEASE

Exprivia SpA

Financial Statements as at 30 September 2020 Balance Sheet

Income Statement

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PRESS RELEASE

Net Financial Position at 30 September 2020 and at 31 December 2019

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PRESS RELEASE

Exprivia Group excluding Italtel Group

Financial Statements as at 30 September 2020 Balance Sheet

Income Statement

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PRESS RELEASE

Net Financial Position at 30 September 2020 and at 31 December 2019

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PRESS RELEASE

Italtel Group

Net Financial Position at 30 September 2020 and at 31 December 2019

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Italtel SpA

Net Financial Position at 30 September 2020 and at 31 December 2019

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PRESS RELEASE

DECLARATION OF THE MANAGER RESPONSIBLE FOR PREPARING THE COMPANY'S FINANCIAL REPORTS, PURSUANT TO ART. 154-BIS, PARAGRAPH 2, TUF

The Manager responsible for preparing the Company's financial reports Valerio Stea declares, pursuant to Article 154-bis, paragraph 2, of Legislative Decree no. 58/1998 (Testo Unico della Finanza), that the accounting information contained in this press release corresponds to the documented results, books and accounting records.

Exprivia

Exprivia is the parent company of an international group specialized in Information and Communication Technology able to direct drivers of change in the business of its customers thanks to digital technologies.

With a consolidated know-how and a long experience due to the constant presence on the market, the group has a team of experts specializing in various fields of technology and in the main areas within this sector, from the Capital Market, Credit & Risk Management to IT Governance, from BPO to IT Security, from Big Data to Cloud, from IoT to Mobile, from networking to enterprise collaboration to SAP. The group supports its clients in the Banking & Finance, Telco & Media, Energy & Utilities, Aerospace & Defense, Manufacturing & Distribution, Healthcare and Public-Sector sectors. The group offering is made up of solutions that are composed of third-party products, engineering services and consultancy.

Following the acquisition of 81% of Italtel's share capital, an historic Italian company that today operates in the ICT market with a strong focus on the Telco & Media, Enterprises and Public-Sector markets, today the group has about 3,600 professionals distributed in over 20 countries worldwide.

Exprivia S.p.A. is listed on Borsa Italiana Stock Exchange to the MTA market (XPR).

Exprivia is subject to the direction and coordination of Abaco Innovazione S.p.A.

www.exprivia.it/en

Contacts

Exprivia SpA

	Press office
Investor Relations
Gianni Sebastiano	Sec Mediterranea
[e-mail]	T. +39 080/5289670
T. + 39 0803382070 - F. [phone]	Teresa Marmo
	[e-mail]- Cell. +39 335/6718211
	Gianluigi Conese
	[e-mail]- Cell. +39 335/7846403
	Sec and Partners
	T. +39 06/3222712
	Martina Trecca
	[e-mail]- Cell. +39 333/9611304
	Andrea Lijoi
	[e-mail]- Cell. +39 329/2605000

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