techStar Company PRESENTATIONS:
28 companies present nine month financial results for 2004
to investors and analysts
Over 600 participants
125 one-to-one meetings
techSTAR companies meet analysts and investors today during techSTAR Company Presentations, organized by Borsa Italiana to give the companies a venue to present their results and discuss future prospects.
techSTAR was launched in April 2004 with 25 companies - today it numbers 28 - and is the segment which includes companies whose elevated growth potential stems from a new business formula or high technology products/processes. techSTAR companies must meet, among others, at least one of the following two criteria: show growth in their consolidated gross operating margin or debts of no more than six times said margin.
THE COMPANIES AT A GLANCE
If we analyze growth and profitability indices for the first nine months of 2004, the 25* companies in the segment show consistent growth in sales over the past three years: aggregate sales were 2.8 billion Euro in 2003 and are 4.1 billion Euros in 2004, up more than 20%.
20 companies out of 25, or 80% of the total, posted increased sales in the past year: 14 of them (56%) posted sales of more than 10%.
The growth in sales was paralleled by a growth in gross operating margins: margins went from 78 million Euros in 2002 to 294 million Euros in 2003 to 458 million Euros at September 30, 2004.
All the companies in the segment have a positive gross operating margin; for 20 of these (80%) the margin is growing. 72% posted an increase of more than I million Euros in their gross operating margins over the same period last year.
Blue chip**companies and Small&Mid Caps show a different dynamic.
The blue chips closed the year with positive, increasing margins: after reaching margin breakeven two years ago, sales are up 31% and margins are up 140 million Euros on an annual basis.
S&M Caps show positive margins, also up consistently: 128 million Euros in 2002, 189 million in 2003 and 227 million in 2004, generating an increase of approximately 50 million Euros a year with an average growth rate of 34%.
Milan, December 2, 2004
* This analysis cannot be applied to I.NET, CDB e BB Biotech
** Tiscali and eBISCOM
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