I
EDILIZIACROBATICA S.P.A. -
Registered office in Milan - Via Turati, 29
Share capital € 772.530 -
Tax code and VAT number 01438360990 - R.E.A. MI 1785877
Report on the Management of Consolidated Financial statements at December 31, 2020
Shareholders, this consolidated financial statements at 31/12//2020, closed with a net profit for the period of Euro 1.757.640, net of taxes of Euro 1.087.201.
In the Notes to the Consolidated Financial statements, you were informed of the disclosure of the consolidated financial statements for the financial Year ended 31/12/2020; in this document, in accordance with Art. 2428 of the Civil Code, the information concerning the situation of the company group and the information on the management progress, as well as on the foreseeable evolution of the management, the net financial position and the main risks and uncertainties to which the group is exposed are presented.
This report, drawn up with values expressed in units of Euro, is presented in support of the consolidated financial statements for the year in order to provide income, capital, financial and management information of the group, agreed, where possible, by historical elements and prospective assessments.
Shares held by Ediliziacrobatica at 31 December 2020
Denomination | Registered office | Share capital Share share held | |||
Construction Aerobatic France SAS | Bureau | General | 550.509 | 100 % | |
direction, 2 | Avenue | ||||
Lucien Vidie - 66600 | |||||
Rivesaltes |
On August 26, 2020, the extraordinary stakeholders' Meeting approved the joint merger plan for incorporation into Ediliziacrobatica Spa of the subsidiaries EDAC Biella srl, EDAC Roma Nord Ovest srl, EDAC Sicilia srl, EDAC Versilia srl in liquidation,
Report | Page 1 |
I
EDILIZIACROBATICA S.P.A. -
Registered office in Milan - Via Turati, 29
Share capital € 772.530 -
Tax code and VAT number 01438360990 - R.E.A. MI 1785877
GRANDAEDAC SRL in liquidation, all of them have the same social object as the parent, with the aim of improving the operational efficiency of both the parent and the subsidiaries and of achieving savings in the structure costs and in the use of the resources of available resources and materials. The merger process, registered at the Chamber of Commerce of Milan and Brianza on 4 September 2020, ended on 16 November 2020, the date from which its civil effectiveness is advertised , which the accounting and fiscal effects are backdated to 1/1/2020; the merger is fiscal neutral.
Following the merger of the Italian subsidiaries, the only remaining stake at 31/12/2020 is that of the subsidiary France sas.
This financial statement that is submitted for your approval fully presents the situation in which the Group is located.
Performance of the sector
Ediliziacrobatica Spa is active in the building restructuring sector in Italy, within the macro-building sector. Investment in restructuring works is identified as one of the main elements of trends in the construction restructuring sector. In this context, the market for private investment in renovation works on buildings is reported up to the year 2018 (Figure 1).
Total residential | ||||
and non- | ||||
residential | of which residential | |||
Year | buildings | buildings (€ million) | ||
(€ million) | ||||
1998 | 39.961 | 26.222 | ||
1999 | 42.998 | 28.801 | ||
2000 | 47.415 | 31.940 | ||
2001 | 48.847 | 32.669 | ||
2002 | 49.084 | 32.819 | ||
2003 | 49.506 | 33.415 | ||
2004 | 51.164 | 34.691 | ||
2005 | 52.943 | 36.091 | ||
2006 | 55.696 | 38.179 | ||
2007 | 58.480 | 40.066 | ||
2008 | 59.474 | 40.700 | ||
2009 | 58.759 | 41.201 | ||
2010 | 60.955 | 43.372 | ||
2011 | 64.033 | 45.466 | ||
2012 | 61.838 | 43.896 | ||
Report | Page 2 |
I
EDILIZIACROBATICA S.P.A. - | |||
Registered office in Milan - Via Turati, 29 | |||
Share capital € 772.530 - | |||
Tax code and VAT number 01438360990 - R.E.A. MI 1785877 | |||
2013 | 64.150 | 45.801 | |
2014 | 66.109 | 47.242 | |
2015 | 67.402 | 47.925 | |
2016 | 69.734 | 49.879 | |
2017 | 71.062 | 50.444 | |
2018 | 72.639 | 51.356 | |
TOTAL | 1.212.250 | 842.175 |
Figure 1. - Investments in restructuring work 1998-2018, (Cesme processing on various sources). *for 2018 estimate based on the projection of data from the first 8 months of 2018 over the year
But also 2019, pending official data from the Ance, from the first estimates it closes with the same trend of evolution of the last 10 years confirm the growth of the market for the maintenance of buildings confirm a trend from 2007 to 2019 of +23,5%. (figure 2). This growth is being driven more and more by the sharp decline in the new construction sector, which has seen a fall of -68% in the last 10 years. More and more the attention of the construction market is directed to the maintenance of the building, especially in the historical centers and urban areas, all reinforced this year by the Bonus faces. The" bonus faces "will give even greater strength to the growth of restructuring and it is evidence that more and more we want to boost the market for medium, small and large maintenance. The Front 2020 Bonus is the new tax discount to embellish the buildings of our cities. It allows you to recover 90% of the costs incurred in 2020 without a maximum spending limit and can benefit all of them.
Figure 2 Ance processing on ISTAT data
Report | Page 3 |
I
EDILIZIACROBATICA S.P.A. -
Registered office in Milan - Via Turati, 29
Share capital € 772.530 -
Tax code and VAT number 01438360990 - R.E.A. MI 1785877
In particular, investments in the upgrading of housing assets confirm the positive trend of previous years, accounting for about 37% of the value of investment in construction, effectively starting the entire construction sector.
The restructuring and maintenance market generally continues to rise; the forecast for 2020 shows a projected increase in investment in building renovation, with a further increase compared to previous years.
Among the main trends of recent years there is certainly the professionalization of the sector with the growing presence of structured operators, active in the management of buildings (company of facility and property management); increasingly large groups of real estate management are also reaching the market of the condominium administrations. The evolution of the market is a great advantage since being the only company of its sector present on the whole National territory is become more and more a point of reference for the great customers who require a standard on interventions in different Italian cities.
Another advantage of the market transformation is the renewed attention, both in Italy and in Europe, toward historical buildings, which has led to investments in the preservation of the same through recovery and maintenance operations both ordinary and extraordinary as well as the introduction of the Bonus faces 2020;
The growing trend in planning for routine and extraordinary maintenance of buildings is driving the rope construction industry. With no installation costs shelving or aerial platforms, the condominium administrators are increasingly turning toward a planned maintenance of the buildings. In other words, the possibility to face the entire external restructuring of the buildings through medium small interventions planned in several phases of time, with completion of the works even at 3/5 years. This trend is increasingly strong thanks also to the possibility of delaying the payments of interventions by the condominiums over time and therefore thanks to a planning of the maintenance of the buildings more and more studied with great advance, so it does not address the emergency and does not address the major interventions in a single solution, generating discontent on the part of housing over-spending suddenly. This trend to schedule maintenance is part of the evolution of the role of the condominium administrator, who is increasingly turning from the custodian of goods to the Building Manager.
With the aim of identifying the market for buildings in Italy, the number of residential buildings is identified on the basis of ISTAT data from the last survey pending the new one.
This survey was also proposed in the management report for the previous year, and in the absence of an update it is also proposed this year.
Report | Page 4 |
I
EDILIZIACROBATICA S.P.A. -
Registered office in Milan - Via Turati, 29
Share capital € 772.530 -
Tax code and VAT number 01438360990 - R.E.A. MI 1785877
In 2011, the ISTAT carried out a census of buildings and complexes on the national territory, totaling 14.515.795, 13,1% more than in 2001. More specifically, there are 14.452.680 buildings and 63.115 complexes, with an intercity increase of 13,1% and 64,4%, respectively.
Below is a graphic representation of the number of buildings by type: (Figure 3)
Non-
residential
buildings
Residential
buildings
84,3%
Figure 3. - subdivision of the number of buildings in Italy by type, 15th census of population
and dwellings, 2011, ISTAT
84.3% of the total buildings surveyed were residential buildings, totaling 12.187.698, and up 8.6% in the intersecondary decade.
Below is a representation of the buildings by geographical area (Figure 4).
Islands 16,1%
South
North West 22,6%
25,2%North East
19,3%
Center
16,9%
Figure 4. Number of buildings by geographical area - census 2011 (absolute values)
Report | Page 5 |
Attachments
- Original document
- Permalink
Disclaimer
EdiliziAcrobatica S.p.A. published this content on 26 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2021 16:10:00 UTC.