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10th listing of 2023 on Euronext Growth Milan
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Pasquarelli Auto S.p.A. brings the total number of companies listed on Euronext Growth Milan to 197
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22nd listing on Euronext in 2023
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Total placement volume of the offering equal to €5.6 million
Milan – 26 May 2023 – Borsa Italiana, part of the Euronext Group, today congratulates Pasquarelli Auto S.p.A. on its listing on Euronext Growth Milan.
Pasquarelli Auto S.p.A. is a mobility provider active in the trade of new and used cars and commercial vehicles (through its own brand SecondLife), in short - medium- and long-term rental, as well as in the service and sale of spare parts.
Pasquarelli Auto S.p.A. represents the tenth listing on Euronext Growth Milan in 2023, and brings the total number of firms currently listed on Euronext Milan to 197.
In the placement phase, Pasquarelli Auto S.p.A. raised €5.2 million. In the case of the full exercise of the over-allotment option, the total amount raised will be €5.6 million. The free float at the time of admission was 14.96% and the market capitalisation at IPO was €34.8 million.
Marco Pasquarelli, CEO of Pasquarelli Auto S.p.A. said: "The achievement of this goal, our listing on Euronext Growth Milan, makes us proud. It represents a key stage of the growth path that we are carrying forward and that has seen us grow steadily in the last 10 years, with a CAGR of 32%. Thanks to this listing we will be able to further consolidate our role as a mobility provider, accelerating the development of our services. We will do this through the growth of our external lines, the expansion of current locations and territorial expansion, with a focus on SecondLife, our proprietary brand dedicated to the sale of used cars characterised by a unique business model and high profitability.”
Caption Giancarlo Pasquarelli, Founder, CEO and Chairman of Pasquarelli Auto; Marco Pasquarelli, Managing Director; Federica Pasquarelli, CFO of Pasquarelli Auto; Filomena Palombo, Founder and Brand Manager Nissan; Lucio Pasquarelli, Brand Manager Vw Group of Pasquarelli Auto S.p.A., rang the bell during the market open ceremony this morning to celebrate the Initial Public Offering of the company.
Pasquarelli Auto S.p.A. Pasquarelli Auto, established in 1986 in San Salvo, Abruzzo, is the mobility provider with a full range of services for the customer, as well as the first automotive dealer listed in Italy. The Company is a leader in the trade of new and used cars and commercial vehicles (through its own brand secondlife) and in short, medium and long term rental. Through a business model based on 4 functional service lines (trade of new cars and commercial vehicles (VAN) and used (VAU), rental, and technical assistance (VASS), as well as sale of original spare parts and accessories (VAR)) and 1 transverse (financial and insurance services (F&I). The Company represents 12 major automotive brands (Volkswagen, Peugeot, Toyota, Audi, Kia, Cupra, Nissan, Seat, Lexus, Vic and Mitsubishi, DS Automobiles) with 10 sales and service points and a logistics center for the storage of cars of over 22,000 square meters. Pasquarelli Auto closed the FY 2022 with a production value of Euro 203.8 million, up 6.1% compared to 2021, an EBITDA of Euro 9.7 million up 32.3% compared to 2021 with an EBITDA margin of 4.8% (among the highest in the sector in Italy) and a net profit of Euro 5.5 million, +39.6% compared to the previous year. Pasquarelli Auto has demonstrated a strong ability to seize growth opportunities, as evidenced by the value of production that in the last decade 2012-2022 grew to a CAGR of 32%.