The Board of Directors of Franchi Umberto Marmi SpA, a leading international company in the sector of processing and marketing of Carrara marble, listed on the AIM Italia market (Ticker: FUM) (the "Company"), has approved the draft financial statements financial year as at 31 December 2020 drawn up in accordance with the IFRS international accounting standards.In the 2020 financial year FUM achieved Total Revenues and other income of 51.2 million euros compared to 65.2 million euros recorded in the same period of 2019 (-21.5%).The decline in revenues was mainly concentrated in the lockdown phase (substantially in the second quarter) while in the last quarter of 2020 there was a strong recovery in sales reaching 15.3 million euros (+ 53% compared to the third quarter of 2020 and + 19.5% compared to the fourth quarter of 2019).Sales were substantially stable on the Italian market (24.3 million euros in 2020 compared to 24.5 million euros in 2019) and in the United States (6.5 million euros in 2020 compared to 7.0 million euros. Euro in 2019), while they saw a marked contraction in China (8.2 million euros in 2020 compared to 16.3 million euros in 2019).The result in China is due both to the long period of Chinese and Italian lockdowns but also to the logistical difficulties that blocked customer visits to the showrooms on site.In terms of products sold, there was a significant decline in Calacatta's revenues (-10.7 million euros compared to 2019) in consideration of the contraction in sales in China where Calacatta is by far the most sought-after product.This was contrasted by an increase in the Statuario (+0.9 million euros compared to 2019), Gioia Venato (+1.8 million euros compared to 2019) and Bianco Carrara (+1.6 million euros compared to to 2019).At 31 December 2020, the Adjusted Ebitda amounted to € 17.9 million compared to € 27.0 million in the same period of the previous year (-33.6%).The decrease is essentially attributable to the contraction in revenues and in particular to the lower sales of Calacatta on which the industrial margins are particularly high only partially offset by the higher revenues achieved by the Statuario.The Adjusted Ebitda margin as at 31 December 2020 was 34.9% compared to 41.3% in the same period of the previous year with substantially stable profitability in consideration of the contraction in revenues.EBITDA was € 14.6 million compared to € 25.3 million in 2019 (-42.4%), with a margin on revenues of 28.4% compared to 38.8% in 2019 .EBIT was 13.3 million euros compared to 24.2 million euros in the same period of the previous year (-45.0%).The Net Result was € 10.3 million compared to € 16.6 million in 2019 (-38.0%).Investments at 31 December 2020 amounted to € 2.1 million, down from the € 4.9 million of the previous year, both in consideration of the effect of the Covid-19 pandemic, but above all due to the fact that the activities related to the expansion of the exhibition spaces at the Company's headquarters substantially ended in the first months of 2020.The Net Financial Position at 31 December 2020 is positive and equal to a total of -1.0 million euros (cash availability), compared to -6.4 million euros at 31 December 2019. This result reflects the important self-financing generated in the period, the increase in working capital linked to the increase in the warehouse in consideration of the inauguration of the new exhibition spaces at the company headquarters and the payment facilities granted to customers as well as the distribution of dividends during 2020.Significant events at 31 December 2020 and subsequentAmong the significant events that occurred in 2020 we highlight the business combination with TheSpac SpA, already listed on the AIM Italia market by means of which, following the merger by incorporation of the Company into TheSpac, FUM was listed on the AIM Italia market with effect from October 5, 2020.Furthermore, during the month of January 2021 the Company finalized the acquisition of 50% of the shareholdings of Engineer Giulio Faggioni Carrara Srl, owner of an important quarry in the mining district of the Apuane through which an important source of procurement of high quality marble (Calacatta and Statuario) thus improving both its strategic positioning and expectations of future profitability.Thanks to this important acquisition, the Company has guaranteed the supply potential to support the growth plan for future years.The acquisition operation saw a partial reinvestment of the entrepreneur Gualtiero Vanelli through the GVM - The civilization of marble Srl which thus acquired 9% of the share capital of FUM as well as being appointed director of the same.In the commitments signed, GVM also guaranteed the reinvestment of 1.5 million euros in Company shares which as of today has already been made for a total of 12,100 shares, thus bringing the shareholder GVM's stake to 9.05% while the remaining part of the investment will be completed in the year 2021.Impacts and effects of the COVID-19 epidemicDuring 2020, the COVID-19 epidemic affected the Company's activities significantly.During the general lockdown in March and April 2020, shipments of products and the main production activities were suspended.The Company immediately took action to carry out all possible ordinary maintenance in order to recover as much as possible and prepare for the reopening which took place in April-May.The impact on revenues wassignificant and was inevitably reflected in the first three quarters of the year in which revenues decreased by 16.5 million euros compared to the same period of 2019. In the first and second quarters in consideration of the generalized lockdowns both in Italy and in other countries (with particular reference to China and the United States) and then, albeit to a more limited extent, in the third quarter due to travel restrictions that prevented customers from coming to the Company's showrooms.The extraordinary commercial result of the last quarter of 2020 partially offset the decrease in revenues accumulated in the first months of the year.The first months of 2021 confirm the recovery trend highlighted in the last quarter of 2020 both in terms of revenues and profitability.In particular, the intense commercial activity that the Company is planning for the current year, including participation in trade fairs in China, scheduled for May, and in Verona - Marmomacc, scheduled for late September / early October - should allow to recover the sales and profitability levels achieved in 2019.Convening of the Shareholders' MeetingThe Board of Directors has resolved to call the Shareholders' Meeting for April 19, 2021, in single call, for the approval, in the ordinary session, of the financial statements at December 31, 2020.The Board of Directors in consideration of the economic result resulting from the 2020 draft financial statements (equal to 10.3 million euros) proposed the distribution of a dividend equal to 70% of the net profit or equal to 0.241 euros per share with ISIN IT0005335754 .Furthermore, in the context of the same meeting, the shareholders will be called to approve (i) in an extraordinary session, some changes to the text of the bylaws, in order to adapt it, inter alia, to the provisions of the AIM Issuers' Regulation, as last amended, as well as the provisions of article 2441, paragraph 4, c, c., as amended by Legislative Decree no. 76 of 2020, regarding the possibility of resolving share capital increases with the exclusion of the option right within the limits of 10% of the share capital pre-existing;and (ii) in the ordinary session, the assignment of the statutory audit assignment for the financial years 2021-2029 to Deloitte & Touche SpA pursuant to art.17 of Legislative Decree no. 39/2010 in consideration of the qualification of FUM as an "issuer of shares widely distributed among the public" pursuant to art.2-bis paragraphs 1 and 2 of the CONSOB Regulation no.11971/1999.Today the Board of Directors also verified that all the members of the Board of Directors and the Board of Statutory Auditors possess the requisites required for the office, also on the basis of the amendments recently made to the AIM Issuers' Regulation.The Directors Maurizia Leto Di Priolo and Roberto Lettieri have confirmed the possession of the independence requirements pursuant to article 148, paragraph 3 of Legislative Decree no.58.Presentation of data to the financial communityAlberto Franchi, President and CEO, Carlo Varni, General Manager and Marco Nannini, CFO will meet the Investors via videoconference on Monday 22 March 2021 at 6 pm for the presentation of the 2020 results. 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