Exercised the option for the purchase of an additional stake in Lavorwash S.p.A.
Third quarter sales update
Bagnolo in Piano (RE), 06 October 2020
Comet exercises the option to purchase 14.67% of Lavorwash S.p.A. and rises to 98.42% of the share capital
Emak S.p.A. (MTA, STAR) announces that the controlled company Comet S.p.A. has exercised the option to purchase an additional 14.67% stake in the share capital of Lavorwash S.p.A. for an amount equal to € 9,645 thousand.
The transaction, which brings Comet's stake to 98.42%, follows the contractual agreements signed on 10 May 2017.
Significant sales growth also in the third quarter
During the third quarter the positive trend in Group sales continued, confirming the expectations of the beginning of August.
The consolidated turnover of the Emak Group for the third quarter, provisional management value, closed with an increase of around 20% compared to the same period of 2019, with significant growth for all business segments. The good result of the last three months determines a cumulative growth in the first nine months of the year of about 7% compared to the same period in 2019.
Please note that the data in this press release are preliminary. The final results as at 30 September 2020 will be published after approval by the Board of Directors on 11 November 2020.
Virtual Star Conference – Fall Edition
It is announced that the company will meet with the financial community at the Virtual Star Conference organized by Borsa Italiana on 6 and 7 October 2020. The presentation that will be used will be available on the company's website and on the eMarket Storage mechanism before the start of the event.