The bond, with Cassa Depositi e Prestiti, Sace and Mediocredito Centrale, aims to support the company’s 2022-2024 investment plan, which includes the upgrading and expansion of production facilities located in Italy and abroad.
Florian S.p.A., a leading international group in the processing and commercialization of wood, has finalized the issuance of its second bond for an amount of 25 million euros, with the aim of supporting the 2022-2024 investment plan, which provides for a path of further growth through the expansion of production facilities and the strengthening of competitiveness in international markets.
The transaction was structured and placed by Banca Finint and involved the following investors: Cassa Depositi e Prestiti, Mediocredito Centrale, Banca Popolare dell’Alto Adige, the regional financial institutions Veneto Sviluppo and Friulia, Finest, Mediocredito Trentino Alto Adige and Banca Valsabbina.
The operation, with a duration of 7 years, will allow the Group to introduce greater automation in production processes through the installation of ”
Industry 4.0 ” systems and to integrate new technologies aimed at saving energy and increasing production capacity in the Flooring sector. Moreover, the new finance will be able to support the Group’s internationalization strategies, and it is in this context that the intervention of SACE, which has issued a guarantee on a portion of the bond loan, fits in.
The Florian Group, with headquarters in Riese Pio X in the province of Treviso, will close its 2021 financial statements with consolidated revenues growing to over €160 million (+35% compared to FY 2020) and an Ebitda of approximately €34.1 million, which is more than double the previous year’s figure (Ebitda margin of 21%). The company has public rating A3.1 assigned by Cerved Rating Agency.
According to
Elvio Florian, President of the Florian Group, “In such a difficult and complex historical moment, we are proud that our Group has been able to carry out this important financial operation in support of a growth plan that we consider ambitious and solid”.
Andrea Lavorenti, General Manager of the Group, adds: “Thanks to this 25 million euro operation we have the possibility to develop and give continuity to a series of technical and industrial projects in Italy and Croatia and for this we thank Banca Finint, the investors and SACE who have believed in our project from the beginning”.
Simone Brugnera, head of minibond&direct lending at Banca Finint said, “We are truly honored to have assisted Florian in its second transaction on the capital market, after having followed the first issue in 2017. Confirming the validity of the project, the company was able to place more than double the amount on the market at a cost almost halved compared to the first issue. This is a clear indication of how the capital market rewards issuers, like Florian, with a successful credit story proven by solid economic and financial fundamentals: in fact, compared to the first transaction turnover and Ebitda have almost doubled and the leverage ratio has been reduced by half.”
