Financial, first capitalization of the AIM market in Piazza Affari, Bio-On prepares a new plan and the title enters the world small cap basket of 4,263 companies from 23 developed countries
The title of the bio-polymer company, the first capitalization of the AIM market in Piazza Affari with 523 million euros, became part of the Msci World Small Cap index, created by Morgan Stanley, which includes 4,263 companies from 23 developed countries.
Bio-on is working on a new industrial plan that reflects the activities of the various business units recently created by the Bologna group and the closure of a couple of license agreements by the end of the year. The stock today is not much moved with limited exchanges and a slight progress, + 0.64%, to 28.5 euros per share, close to the historical maximum.
This is what is reported at MF-Milano Finanza from financial sources. The 100% sustainable bio-polymer group, the first capitalization of the AIM market in Piazza Affari with 523 million euros, has announced that its stock has been part of the Msci World Small Cap index since December 1st realized by Morgan Stanley, which includes 4,263 companies from 23 developed countries, about 14% of the capitalization of each market.
The companies that make up the index come to 55.4% from the US, 12.3% from Japan and 7.4% from Great Britain. Over a three-year time horizon, the benchmark offered an annualized return of 10.8 and 6.73% over the decade.
On December 14th and 15th the European Union will present in Bologna the results of the Seventh Framework Program (FP7) of the EU Commission dedicated to the research of new sustainable paints for marine hulls. A project (seafront, synergistic fouling control technologies, grant agreement) to which two companies in Europe worked (over fifty research entities), namely Bio-on and the International Paint group (AkzoNobel), which obtained funding total of 11 million euros. Works that have been checked every six months by Brussels.
Next week each of the two companies will present the results achieved and their patents. For Bio-on it is the creation of a bio-polymer at the base of the new paint that creates less friction of the boat with water, resulting in savings of between 5 and 10% of fuel. By mid-2018 the new Bologna-based plant dedicated to one of the highest margins, the one dedicated to the skincare segment, the beauty creams will go into production (Bio-on collects the proceeds of the licenses that sign when the customers build the plants of production of bio-polymers and start the activity).
The company led by Marco Astorri, founder and CEO, closed the first half with revenues of 622 thousand euros (1,169 million euros in the first half of 2016), because the accounts have not yet been able to register the ten-license contract for 55 million euros signed December 2016, which will take effect in the coming months.
At the end of September, Astorri confirmed the guidance of the business plan presented last year, which envisages revenues of 13-14 million at the end of 2017. “The plan does not include the agreement with Kering Eyewear”, had already specified the Bologna-based entrepreneur era, explaining that “we have 13 licenses sold in all, of which 10 still to be reported in the budget and 18 others in advanced negotiations”. The group in Bologna is also involved in the selection of personnel, especially experts for the various divisions.
Source Milan Finance
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