Drums Investment Partners (Tip:) send to archive the first nine months of 2020 with a pro forma profit of over 21,2 million euro. The net result drawn up in accordance with IFRS9 standards - therefore without considering capital gains of €58,8 million and write-downs of €28,7 million - it is instead negative for 8,7 million. The figure compares with the positive net result of 24,3 million euros recorded in the same period of 2019.
“Tip's pro forma result in the nine months – he specifies company note – it benefits among other things from the proceeds recorded in the period July-September in relation to the acquisition of a stake in ITH and in relation to the assignment of Amplifon shares to the shareholders of Asset Italia who participated in the investment in Ampliter”.
Tip then underlines that "the pro forma result also includes write-downs of equity investments, mainly referring to the stake in Hugo Boss, which has reached ever lower and less rationally explainable levels of quotation".
As of September 30, consolidated equity of Tip was equal to 945 million euro, net of the distribution of dividends for 14,3 million, the repurchase of treasury shares for 33 million and the exercise of warrants for 67 million. On December 31, 2019, the net worth of Tamburi Investment Partners was 835 million.
Also in the first nine months, revenues linked to advisory activities they amounted to approximately 3,8 million euros, against the approximately 6,1 million recorded in the January-September 2019 period. the company – while the expenses for the executive directors have decreased substantially as they are related to the pro forma performance of the company”.
According to Tip, the third quarter results "indicate signs of recovery that confirm the solid strategic, operational and financial foundations with which these subsidiaries are addressing the situation".
