Finest, today the shareholders’ meeting for the approval of the 2019 Annual Financial Statements

29.04.2020 – 14.30 – The Shareholders’ Meeting of the joint-stock company Finest – Finance Company for the internationalization of the Triveneto area – today approved the 2019 Financial Statements, which had a reduced duration of six months (July-December 2019), for the introduction of the new financial year, based on the solar calendar.
For the Company, chaired by Alessandro Minon, the year was characterized by a significant increase in resources mobilized in favour of businesses, with record investments of almost 21 million euros in just six months (+20% compared to the previous twelve months). Annualizing the figure for the full year 2019 and comparing it with previous years, investments amounted to €29.3 million (+68.78% YOY).
The Company participated as financing partner in 9 new operations, mainly located in countries typical of Finest’s operations such as Romania, Albania, Slovenia, Bulgaria and the Russian Federation, which Finest actively oversees with an office in Moscow and through the ‘Bridge to Russia’ business network. Kazakhstan is an important new entry in Finest’s portfolio, while the companies’ interest in France and Spain, included in Finest’s recent operational extension to the Med countries, is reconfirmed.
Among the most important investment sectors during the year are agri-food(30%), transport (27%), mechanics and electromechanics(24%), and services(11%).
“The Company ended 2019 with a net profit of 192.6 thousand Euros and an investment portfolio of almost 100 million Euros (97 million Euros).During the year there were no write-downs, a sign that the investments made in recent years are solid and performing and the Company has operated efficiently – says Chairman Alessandro Minon -; this Financial Statement, the first presented by the new Board of Directors, was approved in a very complex social and economic context. The Company faces this moment with all credentials to be a decisive financial driver for companies that will need extraordinary support in the immediate future“.
“Once again, the companies that will be able to take advantage of the opportunities in international markets will be those with the greatest chance of successfully overcoming the economic crisis that is emerging. Finest, which boasts thirty years of know-how and a network of institutional and professional contacts in a market of 44 countries, makes available to companies and the country system not only its own financial resources but also those fundamental distinctive skills in a difficult economic scenario like the one we are experiencing. Having at one’s side a financing partner and an institutional partner like Finest can be even more crucial today to identify the best business strategies and successfully implement them, sharing the entrepreneurial challenge” concludes Alessandro Minon.