BREAKING NEWS – 12.06.2023

In the press release of June 8, 2023, FAE Technology SpA – Benefit Company, an innovative SME operating in the design, prototyping, engineering and production of solutions for the integrated electronics sector, listed on the Euronext Growth Milan (EGM) market, announced that it has completed the functional works for the expansion of its headquarters in Vertova (Bergamo), with a total investment of about € 2.00 million, mostly for the implementation of production lines and technologies. The reuse and recovery measures concerned the former textile plant, which had a covered area of more than 5,500 square meters. Investments have focused on elevating technological content through the implementation of 4.0 and automation technologies and on their continuous updating. This has led to the development of the site also in a dimensional sense, in order to increase the production capacity of the Company. The restored buildings have been designed to increase production spaces, optimize material management and create a technical area at the service of product and process engineering. The new production lines integrate state-of-the-art robotics and automation systems, in particular in electronic manufacturing, with digital infrastructures, in line with the development of factory 4.0 and lean production. Through this operation, the Company has promoted investments in technology to become a CyberFactory champion, regarding both production and simulation software as well as equipment and plants. From an environmental point of view, the Company proceeded with a general work of energy efficiency through the refitting of the plants, the renovation of the floors in accordance with the ESD (Electrostatic Discharge) regulations for over 3,000 square meters and the installation of a photovoltaic system for the production of energy from renewable sources. Finally, offices and living areas have been created and designed with a layout and an offer of services able to provide an ideal working environment for employees. The recovered buildings constitute FAE Technology’s “Plant2”, already operational with more than 30 new resources, after the completion of the works in recent weeks. The investments made, consistent with what was stated at the IPO, fuel FAE Technology’s growth strategy and are instrumental to the pursuit of the company’s goals of building customer loyalty and expanding its customer base as well as consolidating and increasing its market share in the sectors that represent the company’s core business in the coming years. For this reason, we confirm our estimates: target price of € 4.00, BUY rating and risk MEDIUM.

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