RE: RNS Clue Hunt23 Nov 2020 10:54
rns from
28 September 2020
Supply@ME Capital plc
(The "Company" or "SYME")
Update on business operations
Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation© service to European manufacturing and trading companies, is pleased to provide an update on its Client company origination.
The SYME platform operates by aligning Client companies (manufacturing and trading companies) seeking to monetise part of their inventory for cash, with Inventory funders (banks, financial institutions and investment funds), that invest through the SYME platform into portfolios of inventory assets via Special Purpose Securitisation Vehicles.
Client company growth
The Interim statement released in July 2020 ("Interims") detailed the increasing demand for the Supply@ME Inventory Monetisation© service. This demand has continued to grow.
Value (Euro)
Dec 19
31.3.20
30.6.20
30.9.20
Gross origination
972m
1.22bn
1.43bn
1.64bn
Number of client companies
66
82
97
142
By the year end, on 30 September, there will be 142 Client companies, originated in Italy (up from the 97 announced in the Interims). The acceleration in the number of corporates ready to be served is a result of the re-opening of activities in Italy post the COVID-19 lockdown, combined with the positive reaction from Client companies to the progress that Supply@ME has made with its Inventory funding.
Additional Client company demand has been created by:
- the EPIC fintech platform alliance announced on 4 September which has delivered 19 Client companies into the Inventory Monetisation programme (included in the above table), and
- as announced on 27 July, the pool of 272 companies originated by one of the two Italian "Self-Funder" institutions that has resulted in the initial selection of 29 corporates upon which due diligence will commence.
Portfolio core sector analysis:
Sectoral concentration
%
Materials
21.4%
Capital Goods
21.3%
Retailing
15.5%
Food, Beverage & Tobacco
15.4%
Consumer Durables & Apparel
8.5%
Food & Staples Retailing
6.4%
Automobiles & Components
4,2%
Pharmaceuticals, Biotechnology & Life Sciences
3,0%
Energy
1,3%
Technology Hardware & Equipment
1,2%
The thirty Italian Client companies that form the first Inventory Monetisation portfolio will be notified that their target completion date is the end of October. This portfolio comprises corporates of various sizes which form part of supply chains led by the following companies.
· Materials sector
o JSW Group: international conglomerate in steel, energy, minerals and materials
o Stemcor London Trading: international steel trader, distributor and stockholder
o Tosyali Group: international leader in the iron and steel industry
o Steelcom: Steel and Commodities, international steel trading business
· Capital Goods