SACMI Group, 2023 Sales Surpass €2 Billion

Double-digit revenue growth, over 5,200 employees, positive results across all businesses. Yesterday, 17^th May, the Consolidated Financial Statements were presented at the Parent Company (SACMI Imola) Shareholders’ Meeting. President Paolo Mongardi stated: “In 2023 SACMI strengthened its reputation and leadership. Financial solidity, innovation and investment in skills are the prerequisites that allow us to look to 2024 confidently as our 105^th anniversary approaches”

 SACMI closes 2023 with revenues in excess of €2 billion (2.036, +12%), the best result in the Group’s history, with net assets at €883 million. Employment also grew and now stands at 5,200 people worldwide, +8% on 2022. These are the highlights from the Consolidated Financial Statements, presented yesterday, 17^th May, at the Parent Company (SACMI Imola) Shareholders’ Meeting.

“In 2023, SACMI further strengthened its reputation and leadership”, pointed out Paolo Mongardi, “by investing in new products, skills and by taking customer support facilities and services to the next level”. An impressive result, then, especially in light of a macroeconomic outlook characterized by ongoing uncertainty: “SACMI has skillfully adapted its strategy to circumstance, identifying new growth opportunities together with its customers,” explained Paolo Mongardi.

At sector level, all SACMI Businesses closed with positive performance indicators and, in most cases, with their best result ever. One key factor in the result was the persistence of the exceptional economic recovery of 2022, which generated a large order backlog. Moreover, customers immediately rewarded the company’s ability to deliver further innovation at product, production process and service level.

System digitalization continued to be a cross-business growth driver, as did investment in sustainability. The year 2023 also saw the finalization of two major operations: acquisition of 100% ownership of BMR (ceramic slab/tile squaring, cutting, lapping and surface finishing) and the establishment of SacmiCassioli Intralogistics (automation of plant logistics).

From an ESG (Environmental, Social, Governance) sustainability perspective, the SACMI Group had a highly satisfying 2023, again characterized by intense research and development, high levels of investment and the addition of new strategic skills.

Some examples, described in the Group’s 2023 Integrated Annual Report presented yesterday at the Assembly, include: the first prototype of a 100%-hydrogen tile kiln, sanitaryware plants that reduce water usage by up to 90%, the accelerated implementation of new standards for lighter, higher-performing caps (with ready-to-use solutions to streamline the customers’ transition) and new eco-sustainable wrapping materials for the packaging sector, plus, last but not least, further expansion of the Advanced Materials business and the new Energy Division (photovoltaic systems).

Alongside the technology, SACMI has also improved the environmental performance of its manufacturing facilities: it has reduced gas consumption by 9%, self-produced 10% more electricity, reduced direct emissions by 9%, cut water and waste production (-13%), all against an increase in sales and hours worked.

Commitment to R&D remains strong – nearly 6,000 patents have now been filed – as does the acquisition of new skills, with more than 50% of new hires aged under 30. The company remains committed to local communities. No less than 89% of purchases are from local suppliers and, over the last 3 years, €1.9 million has been donated to charity projects in communities where the Group’s production facilities are located.

In short: investment in human capital, financial and economic solidity and a clear innovation-focused strategy that, according to Paolo Mongardi, “allow us to look to 2024 with confidence as our 105^th anniversary approaches”.

sacmi.com

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Constantia Publishes Provisional Notice Of The Interim Result of the Public Tender Offer for All Publicly Held Registered Shares in Aluflexpack – Constantia Holds 86.38%

Following the end of the main offer period, Constantia Flexibles GmbH (“Constantia“) has published the provisional notice of the interim result of its public tender offer for all publicly held registered shares in Aluflexpack AG (“Aluflexpack“) with a nominal value of CHF 1.00 each. The provisional notice of the interim result shows that, based on preliminary figures, 5,141,293 Aluflexpack shares were tendered into the offer during the main offer period, corresponding to 68.58% of all Aluflexpack shares to which the Offer extends.

Based on preliminary figures and including the 9,803,167 Aluflexpack shares acquired by Constantia from Montana Tech Components AG as well as Xoris GmbH under a share purchase agreement (“SPA”) – which has not yet been consummated –, the participation of Constantia as of the end of the main offer period is 14,944,460 Aluflexpack shares in aggregate, corresponding to 86.38% of the issued share capital and voting rights of Aluflexpack. Constantia welcomes this strong approval of the tender offer by the shareholder base of Aluflexpack.

Subject to confirmation in the definitive notice of the interim result scheduled for May 23, 2024, the minimum acceptance level of 90% of the fully diluted share capital of Aluflexpack (taking into account the 9,803,167 Aluflexpack shares acquired by Constantia under the SPA) has not been reached. If the numbers confirmed in the definitive notice of the interim result are substantially the same as or higher than the preliminary numbers, Constantia plans to waive the offer condition regarding the minimum acceptance level, to declare the Offer successful (zustande gekommen) in the definitive notice of the interim result and to proceed with its plans to delist the Aluflexpack shares as mentioned in the offer prospectus.

The provisional notice of the interim result of the offer, as well as the pre-announcement, the offer prospectus and other materials relating to Constantia’s offer are available on the offer website

afp-tender-offer.com.

The definitive notice of the interim result of the offer is expected to be published on May 23, 2024.

The information in this ad hoc release is for informational purposes only and does not constitute an offer to buy or a solicitation of an offer to sell any securities of Aluflexpack and it does not constitute a prospectus or a similar notice within the meaning of articles 35 et seqq. or advertising within the meaning of art. 69 of the Swiss Financial Services Act. Complete terms and conditions of the offer have been published in the offer prospectus on April 2, 2024 (the “Offer Prospectus”). Holders of shares in Aluflexpack are urged to carefully read the Offer Prospectus because it contains important information about the offer. This announcement is not for publication, release or distribution in or into or from any jurisdiction where it would otherwise be prohibited and does not constitute an offer of securities for sale in such countries. Please also refer to “Legal Disclaimers” below.

Forward Looking Statements
This announcement contains forward-looking statements. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. Aluflexpack undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

Legal Disclaimers

Important Additional Information
This ad hoc release is for informational purposes only and does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any registered shares or other equity securities in Aluflexpack, nor shall it form the basis of, or be relied on in connection with, any contract therefor. This ad hoc release is not part of the offer documentation relating to the tender offer. Full details of the tender offer, including terms and conditions as well as the offer restrictions, were published in the Offer Prospectus. Shareholders of Aluflexpack are urged to read the tender offer documents, which are available at 

afp-tender-offer.com

Certain Offer Restrictions
The tender offer is not being and will not be made, directly or indirectly, in any country or jurisdiction in which the tender offer would be considered unlawful or otherwise violate any applicable laws or regulations, or which would require Constantia Flexibles GmbH or any of its subsidiaries to change or amend the terms or conditions of the tender offer in any way, to make an additional filing with any governmental, regulatory or other authority or take additional action in relation to the tender offer. It is not intended to extend the tender offer to any such country or jurisdiction. Any such document relating to the tender offer must neither be distributed in any such country or jurisdiction nor be sent into such country or jurisdiction and must not be used for the purpose of soliciting the purchase of securities of Aluflexpack by any person or entity resident or incorporated in any such country or jurisdiction.

The communication is not being made by, and has not been approved by, an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000 in the United Kingdom.

Reference is made to the Offer Prospectus published on April 2, 2024, for full offer restrictions and an overview of certain key differences with U.S. tender offer procedures and laws.

Notice to U.S. Holders
Shareholders of Aluflexpack in the United States (“U.S. Holders”) are advised that the registered shares of Aluflexpack are not listed on a U.S. securities exchange and that Aluflexpack is not subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not required to, and does not, file any reports with the U.S. Securities and Exchange Commission (the “SEC”) thereunder.

The tender offer is being made for the registered shares of Aluflexpack AG, a Swiss company whose shares are listed on the SIX Swiss Exchange Ltd., and is subject to Swiss disclosure and procedural requirements, which are different from those of the United States.

The tender offer is being made in the United States pursuant to Section 14(e) of, and Regulation 14E under, the Exchange Act, subject to the exemption provided under Rule 14d-1(c) under the Exchange Act for a tier 1 tender offer (the “Tier 1 Exemption”), and otherwise in accordance with the requirements of Swiss law. Accordingly, the tender offer is subject to disclosure and other procedural requirements, including with respect to withdrawal rights, settlement procedures, waiver of conditions and timing of payments that are different from those applicable under U.S. tender offer procedures and laws. U.S. Holders are urged to consult with their own legal financial and tax advisors (including with respect to Swiss law) regarding the offer.

As permitted under the Tier I Exemption, the settlement of the tender offer will be based on the applicable Swiss law provisions, which differ from the settlement procedures customary in the United States, particularly as regards to the time when payment of the consideration is rendered. The offer, which is subject to Swiss law, is being made to U.S. Holders in accordance with the applicable U.S. securities laws, and applicable exemptions thereunder, in particular the Tier I Exemption. To the extent the tender offer is subject to U.S. securities laws, those laws only apply to U.S. Holders of Aluflexpack shares and will not give rise to claims on the part of any other person. It may be difficult for U.S. Holders to enforce their rights and any claim they may have arisen under the of U.S. federal securities laws, since Aluflexpack is located in a non-U.S. jurisdiction, and some or all of their officers and directors may be residents of a non-U.S. jurisdiction. U.S. Holders may not be able to sue Aluflexpack or its officers or directors in a non-U.S. court for violations of the U.S. securities laws. Further, it may be difficult to compel Aluflexpack and its affiliates to subject themselves to a U.S. court’s judgment.

Neither the SEC nor any securities commission of any State of the U.S. has (a) approved or disapproved of the tender offer; (b) passed upon the merits or fairness of the tender offer; or (c) passed upon the adequacy or accuracy of the disclosure in the pre-announcement or other materials relating to the offer. Any representation to the contrary is a criminal offence in the U.S.

www.aluflexpack.com

www.cflex.com

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Labour Shortages Impact Print Industry

The print industry in Germany counts a total of 8,700 trainees. But the training and skilled labour situation is placing increased pressure on this sector with a workforce totalling 110,00 employees. Some 75% of the industry’s 7,000 companies state they are facing major challenges due to skilled labour shortages.Nor can all apprenticeship posts be filled.

drupa – Meeting point for young talents and skilled labour

“The print industry has been impacted by (skilled) labour shortages for years,” say Heidelberger Druckmaschinen. According to a study recently published by this leading provider of sheet-offset printing presses, nearly one in two companies lack suitable skilled staff. At present, this is the biggest challenge  – even ranking ahead of increased energy prices and bureaucratic burdens. For the study the company conducted a representative poll of the views of 700 firms. The Heidelberg-based company sees automation and digitalisation as solutions to the staff shortages in print shops. In this way jobs can be made more technical and more attractive for workers.At drupa the company will present its technical and innovative solutions.

However, skilled workers remain the be-all and end-all despite increasing automation and New Work concepts. Recruiting will therefore be a major topic at www.drupa.de, the leading international trade fair for print technologies, held in Düsseldorf from 28 May to 7 June 2024. The trade fair is an important meeting point for enterprises seeking to appeal to tomorrow’s employees and trainees.

The “drupa next age” special forum, for example, will be all about the industry’s genetic code – “drupa dna”. This forum is a port of call for start-ups and innovative young as well as long-established companies. Here, the Stuttgart Media University jointly with the International Circle of Educational Institutes for Graphic Media Technology and Management, provides a point of contact for alumni, students and trainees alike. Potential junior staff and students are thus given the opportunity to talk to the employers of the future and get to know draft concepts and best-practice cases.

Association initiatives in the field of education

Numerous initiatives promote careers in the print industry and support companies in raising greater awareness about professions and job profiles in the sector. The German federal associations organised in the BVDM (German Association Print and Media), for example, have initiated training videos that let trainees in the field of media technology, print, screen printing and print processing as well as Digital and Print media designers have a say. Here young people emphasise that their training not only comes with above-average remuneration but is also great fun and synonymous with a secure professional future.

Likewise, the Machinery and Equipment Manufacturers’ Association (VDMA) launched the “Talentmaschine/Talent Machine” campaign in April, designed to get young people interested in technologies and careers in machinery and equipment building.

drupa will also see the Fachverband Medienproduktion (FMP) celebrate the premiere of its industry initiative WE.ARE.PRINT. This is a platform for the print and media industries based on partnership, networking and talent promotion.

Beyond this, the creative and innovative works by students and trainees will enjoy exposure at drupa in numerous special forums and projects. Commenting on this Sabine Geldermann, Project Director Print Technologies Messe Düsseldorf, says: “drupa offers print service providers and their upstream suppliers the unique opportunity to showcase the future of the industry, thereby selectively reaching out to skilled labour and young talent. I am convinced that more and more young people will be attracted by this innovative industry in future and will want to enter a profession in the print industry.”

drupa 2024 will be open for trade visitors from Tuesday, 28 May to Friday, 7 June 2024; opening hours are Mon – Fri from 10.00 am to 6.00 pm, Sat + Sun from 10.00 am – 5.00 pm. 1-day tickets cost EUR 60, 3-day tickets are EUR 165 and 5-day tickets EUR 255. For information on parking vouchers and local public transport tickets please also consult the Ticketshop:

www.drupa.de

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