Fianni Tamburi's Tip closes the best semester ever and launches StarTIP, the holding company created to invest in start-ups, digital and innovative companies with a dowry of 100 million.
THE SEMI-ANNUAL
The first half of 2017 was the best ever for TIP, with a consolidated net profit of approximately 53,7 million compared to approximately 14,5 million euros in the first half of 2016. The result - explains the company's press release - was influenced for 29,2 million from the capital gain on the sale of Amplifon shares and for 20,9 million from the capital gain of Clubtre on the sale of Prysmian shares. The divestments concerned approximately one third of the equity investments held in these companies.
The transaction on Amplifon is part of a broader medium-term partnership between TIP and Ampliter, Amplifon's parent company, which envisages an upcoming investment in Ampliter for 50 million, which TIP will propose to the investee Asset Italia SpA
The result for the period was also positive for revenues from advisory services, which grew to approximately 3,8 million compared to approximately 2,3 million in the first half of 2016 and for other financial income - mainly dividends from investees - which exceeded 8,6 million; the share of the result of associates was approximately 6,3 million.
Consolidated shareholders' equity grew by over 100 million euros in the half year, from 437 million at 31 December 2016 to over 542 million, after having distributed dividends of over 10 million and this also following the exercise, in June 2017 , of 12.261.997 warrants.
At June 30, 2017, the consolidated net financial position of the TIP Group - taking into account the TIP 2014-2020 bond issue - was negative by approximately 123 million euro, a strong improvement compared to the approximately 200 million at December 31, 2016.
THE NEW HOLDING
Tip's Board of Directors has decided to concentrate in StarTIP all the investments operating in the area of start-ups, digital and innovation for which Digital Magics, Talent Garden, Telesia and others. The goal is "to give start-ups and innovative companies a significant contribution to accelerating their development and StarTIP will be the vehicle through which all further initiatives in these sectors will also be promoted". For this reason, the Board has decided to dedicate up to 100 million euros to the project, to be invested in the next few years, "with the hope that
some of the many initiatives launched in Italy in these sectors take into consideration forms of collaboration with StarTIP to give life to an even stronger and more diversified group, but cohesive and well projected towards the great technological challenges of the future, also because it was conceived within one of the most important networks of excellent companies existing in Italy”, concludes Tip's note.
