Tamburi Investment Partners in great shape. In particular, Tip closes i first three months Part 2023 with a pro forma profit of 19,6 million, higher than the 3,3 million of 2022, and with a net assets consolidated value of approximately 1,26 billion, compared to 1,17 billion in the previous year. This was communicated by the holding company founded by Gianni Tamburi, specifying that "in the absence of significant divestments, the result for the quarter is mainly due to the good overall contribution of the results by the associates, which overall achieved even better results than those relating to the first quarter of 2022 In particular, the performance of alpitour, a group in strong recovery after suffering from the effects of the restrictions related to Covid ".
Positive first quarter of 2023 with the subsidiaries
The portion of the result of associates gives an income of approximately 18,5 million, thanks in particular to positive results with investments IPGH, parent company of the Interpump group, OVS, ITH, parent company of the Sesa group, Beta Utensili, Sant'Agata, parent company of the Chiorino group, and Elica. Alpitour restarted with a speed of growth in turnover, orders and profitability beyond forecasts.
I revenues for advisory activities in the period amounted to approximately 0,3 million.
During the quarter, some investments in securities eased slightly for a total income of around 20 million, with total capital gains of around 9 million.
I financial income they also include €0,4 million in changes in the fair value of current investments in listed shares and interest income of €0,4 million. The Financial charges they mainly refer to interest accrued on the bond for approximately 2 million, to negative changes in the value of derivative instruments for 1,5 million and to other interest on loans for approximately 1 million.
La consolidated net financial position of the Group was negative by around 444 million, compared to 419 million at the end of December 2022.
They also continued the purchases of treasury sharesfor about 5 million.
Own actions
Treasury shares in portfolio at the end of 2023 were 17.286.260, equal to 9,375% of the share capital. As at 12 May 2023, there were 17.273.689 treasury shares in the portfolio representing 9,369% of the share capital.
The title
Despite the good results of the subsidiaries and the solidity of the investments in the portfolio, the price of the TIP share "is still heavily penalized both with respect to the effective value of its assets and with respect to the quality and strategic positioning of the subsidiaries".
Monday, May 15, the title gains 0,57% to 8,79 euros per share.
For the 2023
Despite the uncertain scenario, "we are always very satisfied with the performance of the investee companies which, with their leadership, demonstrate - almost all of them - on the one hand still excellent performance and, on the other, an ability to resist crises - now that the also experienced the effect of a pandemic and a war – truly exceptional,” reads the note. “As is well known, all our subsidiaries have very low levels of debt, so even that level of interest rates which is hitting many companies hard, the “TIP world” shouldn't cause particular problems. On the contrary, we should strengthen ourselves both in absolute terms and with respect to our competitors and put ourselves in a position - as in the IDB case - to seize opportunities that the stock markets and private equity markets are presumably unable to finalize".
