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Firpo (PRISMI SpA): "Priority on digital skills for growth"

PRISMI is among the companies leading the Italian 4.0 revolution. The digital lever is currently the driving force of the country. PRISMI is also increasing the value of forecasted data related to the Value of Production and consolidated EBITDA for 2018. Contributing to the achievement of this result was also the recent acquisition of 30% of 'Two Leaders', a small step towards an even more important objective, that of being able to call the company, within all segments and market clusters in which it operates, a real point of reference, says Alessandro Firpo, Business Development Manager of PRISMI. How is the current Italian digital market? The scenario relating to competitors is starting to take shape, even if the market remains too fragmented and dispersed into small businesses, with a local clientele. Our goal is to consolidate the growth of the group to establish ourselves among the top ten Italian companies in the sector. It is a very competitive market in itself but with a specific added factor of competitiveness: the lack of adequate skills available. The latest estimates in this regard show a lack of 270.000 young people with the appropriate professional skills to be able to be absorbed by an increasingly digital labour market. A fact that should certainly make us think. What are the strengths of PRISMI in this scenario? We have a formidable sales network in Italy, with over 170 agents. A network that is still growing, as well as sales continuing to confirm the positive trend from the beginning of the year. And so the conditions for a good 2019 are all there. The direct consequence of strong action on the market of a retail sales network, especially when it is strong, is the inevitable growth of the company's net financial position, which we can see needs to be circulating sufficiently enough for its "excess" of trade receivables. This situation is unavoidable given that it is connected to the same business model, and which requires it to be correctly read and interpreted. From our point of view, and and what we really care about, is not the excess credit itself, which we will understand substantially and aesthetically, but rather the quality of that credit, which is what really matters for the good health, current and future, of our company. I am also pleased to point out the strong effort that we made, crowned by an unexpected success in terms of production, which today can offer our customers a much better quality, as well as a more efficient and rapid delivery. Our brand reputation immediately reflected positively thanks to this very important output. From the acquisition of 30% of 'Two Leaders' to the approval of the growth forecasts for 2018, from its sustained growth by internal lines to the numerous acquisitions, PRISMI is a company going through a process of fermentation aiming to accelerate the Italian digital transformation to become one of the top ten players in the country against the main weaknesses of the market: the lack of sufficiently sized structures, the lack of adequate skills, the random and uncontrolled track of authentic innovations that causes large impediments, full transparency with customers to avoid disorienting them. Although, it must be said that the basic culture of the public in this area is rapidly growing. With the acquisition of 'Two Leaders', PRISMI is making its debut in the barter world. What are the expectations? This is a tool that opens up a new market segment. We purchased a minority stake, equal to 30%, from the majority shareholder, with the possibility to exercise, by the end of December next year, a call option to acquire an additional 21% stake. We have about a year to evaluate the results of this operation, which can represent an important moment in Prismi's growth, without claiming it to be decisive for the growth of our business. The market is very effervescent in this sector and we are looking at all the opportunities it could offer. Let's talk about internationalisation: is it among your priorities? We do not need, at the moment, to look beyond our borders to grow. We are not, however, insensitive to this subject of the internationalisation of skills. There are countries and universities, especially in Eastern Europe, who train engineers at the highest level, who will also find themselves working in markets at a distance from their actual skills. We are looking at these people as resources to attract for our own team. We are not excluding the possibility of a collaboration and the skills of young people coming from abroad. Is Italy lacking the right training for the sector? Yes, something is starting to change with regard to the training on offer, but we are talking about a sector that is growing and changing at the speed of light. We have to recover a lot of ground in terms of the training offer.

29/11/2018