Key Developments: Emak SpA (EM.MI)
0.75EUR
24 May 2013
€0.02 (+2.88%)
€0.73
€0.73
€0.77
€0.72
293,764
109,982
€0.77
€0.46
Latest Key Developments (Source: Significant Developments)
Emak SpA Issues FY 2013 Turnover and EBITDA Guidance In-Line With Analysts' Estimates
Emak SpA announced that the Company has issued its sales and EBITDA guidance for fiscal year 2013. The Company expects to report for fiscal year 2013 sales growth of 3% - 5%, reaching a turnover of EUR 365 million to EUR 370 million, and an EBITDA in the range of EUR 38 million to EUR 40 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report for fiscal year 2013 revenues of EUR 367.76 million and EBITDA of EUR 37.12 million. Full Article
Emak SpA to Propose FY 2012 Dividend Distribution
Emak SpA announced that the Board of Directors has deliberated to propose to the Shareholders' Meeting, to be held on April 23, 2013, the distribution for fiscal year 2012 of a dividend of EUR 0.020 per share, coupon number 16. Payment date will be June 6, 2013, ex-dividend date June 3, 2013 and record date June 5, 2013. Full Article
Emak SpA Expects Increase in Turnover of 3-5% for FY 2013.
Emak SpA announced that it expects an increase in turnover of 3-5% for the fiscal year 2013. Full Article
Emak SpA Sells Its Entire Stake in Subsidiary Emak Benelux NV
Emak SpA announced that it has signed an agreement for the sale of its entire stake in its subsidiary Emak Benelux NV, a Belgian company based in Meer, which deals with the distribution of Emak products on the Belgian and Dutch market. The sale price is set at EUR 50,000, corresponding to the equity value, compared with an enterprise value of EUR 260,000. Buyers will be Herman Kesters, General Manager of the company, and Bjorn Kesters. Full Article
Emak SpA Opens Commercial Branch in Brazil
Emak SpA announced that it has opened a commercial branch in Brazil. Emak do Brasil Industria Ltda, with registered office in Curitiba in the state of Parana, will be in charge of the distribution on the Brazilian market of the Emak Group’s product branded Oleo-Mac. The branch will also commercialize the products of Comet and Tecomec, the companies entered in the Group by the end of 2011. The new branch will be operational in the second part of 2012. Full Article
Emak SpA Renews Authorization of Share Repurchase Program
Emak SpA announced it has renewed authorization of the share repurchase program for up to a maximum number of 9,000,000 of the Company's shares, equal to approximately 5.490% of the current share capital of the Company. Full Article
Emak SpA to Propose Dividend Payment for FY 2011
Emak SpA announced that it will propose the distribution of a dividend of EUR 0.025 per share for the fiscal year 2011. If the dividend will be approved, will have the ex-dividend day on June 4, 2012 and the dividend payment day on June 7, 2012. Full Article
Emak SpA Subsidiary Comet U.S.A. Acquires 90% Stake in the Share Capital of Valley Industries LLP
Emak SpA announced that Comet U.S.A., the American controlled company of Comet SpA, in its turn controlled by Emak SpA, has signed the agreement for the acquisition of 90% of the share capital of Valley Industries LLP. Established in 2003 with registered office in Minnesota (the United States), Valley Industries LLP distributes a wide range of products, components and accessories for Industrial and Agriculture sectors, including Comet’s diaphragm pumps, with a distribution network in the entire area of North America. The value of Valley Industries has been contractually determined in USD 16.6 million. Therefore the price for the 90% of the company object of acquisition is determined in USD 15 million. Jeff Savage, General Manager and co-Founder of the company, will hold the remaining 10%. The closing of the operation is expected for February 7, 2012. At the closing date will be made the payment for the 95% of the above defined value, while the remaining part will be subject to adjustment on the basis of the financial statement at December 31, 2011. This agreement also provides the stipulation of a Put and Call Option Agreement that will allow Savage to exercise an option for the sale of his 10% to Comet U.S.A. at a determined price at the end of the fifth year following the closing. If the abovementioned option won’t be exercised there would be a Call option for Comet U.S.A. at the same conditions. Full Article
Emak SpA Subsidiary Raico Srl Acquires LE.MA. Srl
Emak Srl announced that its subsidiary Raico Srl has acquired LE.MA. Srl, a company that specializes in the commercialization of spare parts, accessories and tools for agricultural sector, for a total consideration of EUR 207,000. Full Article
Emak SpA Concludes Acquisition of Tecomec, Comet, Sabart and Raico
Emak SpA announced that on December 22, 2011, it concluded the acquisition of Tecomec, Comet, Sabart and Raico for a total value of EUR 82.7 million. Full Article
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