annual report 2012 1 ingl - albini group hong kong trading opening in march 2013 mediterranean...

A N N U A L R E P O RT 2 0 1 2

Albini Hong Kong TradingOpening in March 2013

Mediterranean Textile

Delta DyeingBorg El Arab, Alexandria

Tessitura di Mottola

Dietfurt Letohrad - Czech Republic

Albini Shanghai Trading

Brebbia

Kafr El SheikhCotton Field

CetoGandinoAlbino

D I R E C T P R E S E N C E W O R L D W I D E

A L B I N I G RO U P

2

S U M M A RY

DIRECT PRESENCE WORLDWIDE 3

COMPANY STRUCTURE 4

ECONOMIC AND FINANCIAL INDICATORS 5

COMPANY BODIES 6

OUR VALUES 7

LETTER FROM THE PRESIDENT 9

HISTORY 12

HUMAN RESOURCES AND ATTENTION TO THE TERRITORY 14

INDUSTRIAL REALITY AND VERTICAL INTEGRATION 17

STYLE, INNOVATION, BRAND 23

ALBINI GROUPCotonifico Albini 25Thomas Mason 26David & John Anderson 27Albiate 1830 28Albini, donna 29

INTERNATIONAL PRESENCE 31

ATTENTION TO THE ENVIRONMENT 33

BOARD OF DIRECTORS’ REPORT 35

CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31ST DECEMBER 2012 53

CASH FLOW STATEMENTS 60

NOTES TO THE FINANCIAL STATEMENTS 61Consolidation area 63Consolidation standards 65Accounting standards 66Comments to the main assets items 70Comments to the main liabilities items 77Comments to the main income statement items 85

STATUTORY AUDITORS’ REPORT

INDEPENDENT AUDITORS’ REPORT

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E C O N O M I C A N D F I N A N C I A L I N D I C ATO R SC O M PA N Y S T R U C T U R E

1 1 5 , 9

1 2 5 , 1

1 2 9 , 9

2 0 1 0 2 0 1 1 2 0 1 2

N E T R E V E N U E(million Euros)

1 3 , 3

1 7 , 2

1 8 , 2

2 0 1 0 2 0 1 1 2 0 1 2

E B I T DA(million Euros)

5 5 , 3

5 9 , 0

6 3 , 5

2 0 1 0 2 0 1 1 2 0 1 2

S H A R E H O L D E R S ’ E Q U I T Y(million Euros)

( 5 3 , 8 )

( 5 5 , 6 )

2 0 1 0 2 0 1 1 2 0 1 2

N E T F I N A N C I A L P O S I T I O N(million Euros)

5 , 1 4 , 8

8 , 0

2 0 1 0 2 0 1 1 2 0 1 2

I N V E S T M E N T S(million Euros)

1 , 8

3 , 7

4 , 8 3

2 0 1 0 2 0 1 1 2 0 1 2

N E T P RO F I T(million Euros)

( 5 9 , 9 )

FINANZIARIA PER LO SVILUPPO TESSILE F.S.T. S.P.A.

COTONIFICIO ALBINI S.P.A.

TESSITURA DI MOTTOLA S.R.L.

ALBINI TRADING SHANGHAI CO LTD.

ALBINI ENERGIA S.R.L.

MEDITERRANEAN TEXTILE S.A.E.

DELTA DYEING S.A.E.

DIETFURT S.R.O.

I COTONI DI ALBINI S.P.A.

1 0 0 %

1 0 0 %

7 8 , 9 3 %

7 6 , 4 4 %

1 , 4 3 %

1 0 0 %

7 0 %

9 0 %

1 0 0 %

S I N C E 1 8 7 6

O U R C O M M I T M E N T A N D A M B I T I O N

H A S B E E N TO C R E AT E T H E M O S T B E AU T I F U L FA B R I C S

F O R S H I RT S I N T H E WO R L D

O U R VA L U E S :

I N N OVAT I O N

P RO D U C T E X C E L L E N C E

S E RV I C E T H AT C R E AT E S VA L U E

B R A N D I D E N T I T Y

FA M I LY A N D T E R R I TO RY

E T H I C A L R E S P O N S I B I L I T Y

We design and manufacture our products for the International market,

guaranteeing the style, innovation and quality that distinguish

the Made in Italy brand.

BOARD OF DIRECTORS FINANZIARIA PER LO SVILUPPO TESSILE F.S.T. S.P.A.

PRESIDENT Fabio Albini

MEMBERS OF THE BOARD Andrea AlbiniSilvio AlbiniGiovanni AlbiniGiovanni Carlo AlbiniLaura AlbiniMonica AlbiniStefano AlbiniElena Guffanti PesentiMarino Guffanti Pesenti

STATUTORY AUDITORS

Danilo AriciLorenzo GelminiClaudio Bertacchi

INDIPENDENT AUDITORS

KPMG S.P.A.

BOARD OF DIRECTORS COTONIFICIO ALBINI S.P.A.

PRESIDENT Silvio Albini

MEMBERS OF THE BOARD Fabio AlbiniAndrea AlbiniStefano Albini Giovanni Carlo Albini

STATUTORY AUDITORS

Danilo AriciFabrizio LecchiLorenzo Gelmini

INDIPENDENT AUDITORS

KPMG S.P.A.

C O M PA N Y B O D I E S


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The Albini Group closed 2012 with a small growth in turnover and positive economic results.We can be satisfied with the results, given the difficult economic conditions in our industry, with respect to ourcountry and most of Europe.

Our commercial presence with the most qualified Clients in more than 80 countries has been fundamental,the result of a long process of building relationships both in traditional and new markets and a policy ofuncompromising quality.The roots that bind us to our country and our region are very important to us, but Albini Group is, to a certainextent, increasingly becoming an International group at the same time: in terms of the study of products, globalmarkets, decisions on the purchase of raw materials and production. Even the Italian market, with all its difficulties, has not collapsed, partly because over time we have concentratedour efforts primarily on Clients who export the most qualified Made in Italy brand to the world. Thus, throughmajor Italian brands, our products are appreciated by consumers around the world.

An intense effort has been made to defend price levels, in the face of often unseemly competition. Despite strong pressure from the market, the average price increased slightly and was positioned at the correctlevel for the maintenance of quality.

This achievement is the result of a strategy pursued consistently over time: vertical integration for the controlof the entire supply chain, product differentiation, attention to quality, service to Clients, image in the market.

For the development and consolidation of this strategy, 2012 was an important year in many respects.I would like to point out, in particular, the completion of our production chain with the launch of our productiondepartment of fine yarns in September 2012 in Ceto in Valle Camonica, in collaboration with the Group Niggeler& Küpfer, as well as the establishment of the new company: I Cotoni di Albini S.P.A., in partnership withModern Nile Cotton Company, the leading Egyptian company specialised in cotton trading. For the first timein our 137 years of existence, we now control the spinning phase, directly for the finest yarns and indirectlyfor all other cases. Today, starting with our small cotton production facility in Egypt, we can guarantee our Clientsdirect control and traceability of the entire production cycle, from the raw materials to the finishing line,in the face of increasing demand for innovation, quality and reliability by the sophisticated and demandingmarket in which we operate.Investments in spinning were not the only ones we made in 2012.

L E T T E R F R O M T H E P R E S I D E N T

ANDREA, FABIO, S ILVIO AND STEFANO ALBINI


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At the Group level we continued our policy of constant equipment renewal both during good and bad times.Overall, investments in machineries and equipments amounted to 8 million Euros. The focus on energy savingin all the facilities was important, but especially in Italy, where energy costs are outrageously high.Albini Energia S.R.L. has taken the first important steps in this area, not only with activities within the Group,but also by beginning to make its growing experience in the field available to outside operators.Intangible investments were also significant and important: in organisation, through various collections, productinnovation, creativity, commercial activities, marketing and brand building of products.

Thanks to research activities, starting with the best raw materials, we have developed products positionedat the absolute pinnacle of quality and finesse for the most refined and demanding consumers in the world.

We made a great effort to define the positioning of our brands more precisely: today starting with Albiate 1830,all brands of Albini Group (Cotonificio Albini, Thomas Mason, David & John Anderson, Albiate 1830) havea more precise image and mission.

The development of “Thomas Mason Bespoke” continued during the year, and the correspondent “Albini SuMisura” was added. Our presence at the best tailors in the world is consistent with the great demand for bespokeshirts, and it is also a valuable tool for promoting our product to very well-informed consumers.A great effort has been made to reduce working capital and to improve the financial situation: certain initial stepswere already taken in this direction, but this also remains one of the fundamental objectives in the coming months.

During the year we developed our Code of Ethics, because, in a quality company, solid principles are thefoundation of everything.

2012 was the 137th year of the company’s operation; it was a very busy year characterised by remarkabledevelopments.

It demanded great effort from everyone and, with all my heart, I want to thank all of our employees, customersand suppliers (including banks) who have made it possible for us to grow, improve and innovate, even in a yearset in such a difficult context.

Greetings to all

S I LV I O AL B I N I

President Cotonificio Albini S.P.A.


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2000-2006 Manifattura di Albiate and

Dietfurt S.R.O. (in Czech Republic)

were purchased. In 2003,

the production site in Mottola,

an exceedingly modern facility

for fabric preparation and weaving

was inaugurated in the province

of Taranto. The Albini Group

was thus starting to take shape.

2008 Albini Group created a new Logistics

Centre in Gandino (BG) supporting

all the other facilities. Raw yarns,

raw fabrics and finished fabrics

were stored, with an additional

large space reserved for fabric

inspection, laboratory for analysis

and testing of finished fabrics.

2009-2010 In 2009 Mediterranean Textile

weaving mill became operative in

Egypt, the place of origin of the best

cotton in the world. The following

year, in the same location, Delta

Dyeing, the new dyeing plant for

yarns, was inaugurated. In 2010

Albini Group began the innovative

project of cultivation of two fields

of cotton in Egypt called Giza 87

and Giza 45, producing some

of the finest cottons in the world.

1985-1990 Cotonificio Albini initiated

its international efforts, developing

a network of agents and Clients

in a large number of countries.

At the same time it made a major

investment in the modernization

of its production facility in Albino.

1992 Three historic British brands

were acquired: Thomas Mason,

David & John Anderson and

Ashton Shirtings. This allowed

for reliance on international brands

and a historic archive consisting

of over 700 volumes of fabric

samples, a real benchmark for

product creation.

1996 The path of vertical integration

started by the acquisition of

the finishing plant of Brebbia (VA).

This was the first factory outside

the historic headquarters of Albino.

1930 The company, thanks to new

forms of organization, with

the introduction of semi-automatic

looms and dyeing plants for yarns,

faced the big crisis of 1929 and

came out even stronger than before.

1946 After the war there was strong growth

in production and employment.

1962The new weaving room was built,

designed in a very innovative way.

Management responsibilities passed

gradually to the fourth generation,

represented by Giancarlo, Marino,

Piero and Gianni.

1984-1990 The fifth generation of the Albini

family gradually entered

the company, Silvio first, then

Fabio (Silvio’s cousin), Andrea

and Stefano (Silvio’s brothers)

who would in time assume

the positions of sales director,

creative director, industrial director

and chief financial officer.


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1876The company was founded by Zaffiro

Borgomanero in 1876 in Desenzano

sul Serio, in the municipality

of Albino in Valle Seriana, under

the name “Z. Borgomanero & C.”.

After only one year of operation,

the weaving mill already boasted 40

mechanical looms and 44 workers.

1884The company received an important

recognition that attested

the quality of the fabrics produced:

the bronze medal in the Italian

Industrial Exhibition.

1890 Not having had any children,

Zaffiro Borgomanero left

the company to his nephew

Giovanni Albini. In the census

survey of that year, 107 looms

and 90 workers were reported.

Giovanni Albini became a major

player in the local economy and was

named president of the Chamber

of Commerce of Bergamo.

1907 Giovanni Albini participated in the

founding of the Industrialists’ Association

of Bergamo, composed primarily of

companies in the textile sector.

1919His children inherited Industrie Riunite

Filati (Riccardo) and the Weaving

mill in Desenzano (Silvio), which took

the name “Dr. Silvio Albini & C.”.

Today With five brands and a collection

of over 20,000 varieties of fabrics,

Albini Group is able to satisfy

the most demanding Clients

in over 80 countries worldwide.

The Group directly exports over

70% of its turnover.

H I S TO RY 2011-2012Albini Trading Shanghai and Albini

Energia were founded. The finished

fabric laboratory received a prestigious

accreditation from ACCREDIA

in accordance with European and

international standards. The new

spinning line was inaugurated,

designed to produce the finest yarns

at the NK Textile facility in Ceto (BS).

GIOVANNI ALBINI


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The Group pays particular attention to the selection of employees with the awareness

that the quality of the people makes the difference and is crucial to the achievement of

corporate objectives. The Group collaborates with several universities and schools offering

internships to holders of a recent degree or a diploma, thus facilitating the selection of

new deserving resources. The now long-standing collaborations with MAFED, Master’s

program in Fashion, Experience & Design Management at SDA Bocconi, the Master’s

program in Marketing Management for International Enterprise and the Master’s program

in Technologies and Processes in the Textile Supply Chain, at the University of Bergamo

have been particularly positive.

Once hired by the company, after a general orientation phase, new employees benefit from

a training program through on-the-job training, specialisation courses and language courses.

The culture at Albini Group is characterised by the entrepreneurial spirit of its origins

and values of innovation and quality, important factors for success which are part of the

passion that each employee dedicates to their daily work.

These values are supplemented by the project of definition of the company Code of Ethics,

in course of completion. This path will lead to the adoption of an organisational and

management model by the company in accordance with law 231/01.

H U M A N R E S O U R C E S A N D AT T E N T I O N TO T H E T E R R I TO RY

People are the growth engine of Albini Group, which has been present in the Bergamo

area for the past 137 years, always believing and investing in this territory. Alongside

five generations of the Albini family, generations of skilled employees have worked

at the company.

At the end of 2012, the Group’s headcount was 1,342, divided among Italian and foreign

offices: the average age was 39 and 40% are holders of a degree or a diploma. Women

account for 68% of the labour force and 57.5% of the office staff. People of more than

25 different nationalities, work together in the Group. For these reasons, the Group values

diversity by ensuring equal opportunities and the presence of so many cultures becomes

a stimulus for creativity and personal growth.

COTONIFICIO ALBINI 7 3 2

1 2 0

3

2 0 4

2 4 9

3 3

TESSITURA DI MOTTOLA

I COTONI DI ALBINI

DIETFURT LETOHRAD

MEDITERRANEAN TEXTILE

DELTA DYEING

1ALBINI SHANGHAI

P E R S O N N E L D I S T R I B U T I O N AT A L B I N I G RO U P


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The most beautiful fabrics in the world can only come from a process that is completely

under control, starting from the choice of the best raw materials. This is why Albini Group

has pursued a strategy of vertical integration for some years.

In 2012 we continued to focus on the best raw materials such as Giza 87 and Giza 45

cotton, cultivated directly in Egypt in fields controlled by the Group, in collaboration

with Modern Nile, the largest trader of Egyptian cotton: Giza 87 was harvested last

October, the only harvest of this extraordinary cotton in Egypt in 2012.

I N D U S T R I A L R E A L I T Y A N D V E RT I C A L I N T E G R AT I O N

Cotton fields

KAFR EL SHEIKH - EGYPT


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In confirmation of continued investments aimed at obtaining an authentic Made in Italy

brand product, Albini Group opened a new spinning line at the end of 2012, inside

the Niggeler & Küpfer plant in Ceto, in the province of Brescia. With an investment of

2.5 million Euros, the Group has thus entered the spinning sector, a fundamental activity

for controlling a supply chain of excellence. I Cotoni di Albini S.P.A. was born precisely for

this reason, a company of the Group aimed at researching the best cotton in the world

and the most precious yarn production. Spinning uses highly advanced systems that allow

the historical know-how acquired by Albini in the treatment of the finest counts, with

the most modern technologies, to be combined.

This new investment completes the control process of the entire production chain for

which the Group is present today in all stages, starting from the raw materials to the

shipment of finished fabrics to Clients around the world. After spinning, the cotton

undergoes the process of dyeing at the historic factory of Albino or at the dyeing facility

Delta Dyeing, operating in Egypt since 2010.

Weaving, after preparation, continues in the production sites of Albino, Mottola, Letohrad

and Borg El Arab.

SpinningDyeing

Preparation and weaving

I COTONI DI ALBINI - CETO COTONIFICIO ALBINI - ALBINO

DELTA DYEING - BORG EL ARABI COTONI DI ALBINI - CETO

COTONIFICIO ALBINI - ALBINO TESSITURA DI MOTTOLA

MEDITERRANEAN TEXTILE - BORG EL ARAB DIETFURT - LETOHRAD


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Greige fabric control

Finishing

COTONIFICIO ALBINI - ALBINO FINISHING - BREBBIA LOGISTICS CENTRE - GANDINO LOGISTICS CENTRE - GANDINO

Inspection & testing

Shipping

to the most important Clients in the world

All of the fabric is 100% controlled in its raw form and any small defects, typical of natural

raw material, are removed to ensure the highest quality of the product before final finishing.

The finishing of Albini textile is done in the factory in Brebbia, with utmost attention

paid to the quality of the processes, to give the fabric the right appearance and the final

touch. 100% of the fabric is double-checked before storage in the modern Logistics

Centre in Gandino.

At the same time laboratory tests are carried out on the finished fabrics. An important

milestone in 2012 was obtaining the ACCREDIA accreditation for Laboratorio Tessuti of

Albini Group located in Gandino within the Logistics Centre of the Group.

This recognition demonstrates the competence of the laboratory in carrying out specific

tests operating in compliance with UNI CEI EN ISO / IEC 17025 “General requirements

for the competence of testing and calibration laboratories”. This certificate, issued for

the first time in Italy to a textile company laboratory, is also a guarantee for the Customer:

choosing an Albini fabric means having the assurance that the relevant test reports are the

result of tests carried out in accordance with international recognised standards. Only after

having successfully passed all the tests, the fabric is ready to be packed and shipped from

Gandino to the best Clients around the world. Only an industrial process under constant

control allows rapid reaction to specific Client requirements thanks to the spatial proxim-

ity of industrial sites and full control of the entire supply chain.


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The Albini Group also stands out when it comes to style. It creates fabrics in which the

harmony of colours and graphics is enhanced by selection of the right composition. The

plains, the stripes, the checks and the prints are interpreted under the creative direction of

Fabio Albini, resulting in innovative ideas translated into thousands of different variants.

Every six months new collections are developed suited to different occasions of use,

divided into 5 different brands, each with a well-defined identity: Cotonificio Albini,

Thomas Mason, David & John Anderson, Albiate 1830 and Albini, donna.

Two other important services support the seasonal collections:

continuity collections with a wide choice of products in stock;

exclusive designs specifically created for the individual Client by the team of designers

of the Group, in collaboration with the Customer.

Continuous research on products allows the designers to offer innovative solutions in the

collections, using new yarns, dyeing techniques, weaving and finishing. The inspiration

of the designers is supported by invaluable historical archives, a bridge connecting two

centuries of history with the present. In 2012 the Group continued research at the product

level: the Group continues to make the highest sales with the most innovative fabrics in

the finest yarn counts, thus enjoying the results of that research.

In the market, quality, innovation and taste are key and make a difference to the consumer,

not only in the luxury category, but also in the broader high and medium-high ends of

the market in which the consumer is always more careful about “value for money”, quality,

creativity and innovation that are the true values of the Made in Italy brand, appreciated

all over the world.

S T Y L E , I N N O VAT I O N , B R A N D


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Use of the best raw materials, continuous research as well as attention to every detail

constitute the factors which form the basis of Cotonificio Albini products, a historical

brand of the Group which interprets the Made in Italy value 100%.

It is a complete collection that satisfies the desires of the most demanding Clients. For

men, ladies and children, it offers solutions for all occasions, from classic to casual, from

fashionable to a sophisticated sporty look.

Printed fabrics with micro-patterns on different backgrounds are an important element.

Cotonificio Albini distinguishes itself with “Piumino feeling” fabrics with 100/1 and 120/1

yarns of Giza 87 cotton, the precious Egyptian cotton inspected with the utmost attention

in our cotton fields. In the summer season, linen takes centre stage with “Sahara”, made

of 100% linen from Normandy.

In 2012, the new service “Albini Su Misura” was launched, dedicated to the world of tailors

and shirt makers specialised in the distribution of cut lengths aimed at creating custom

made shirts. Through a dedicated e-commerce channel, these Clients can order a single

variant of a fabric of typically Italian taste and receive it within 24/48 hours.

Piuminofeeling


27

David & John Anderson was founded in Glasgow in 1822. The fabrics in this collection

are made with the finest yarns and represent the most precious cottons and linens in the

world. The Scottish brand, acquired by the Group in 1992, serves the highest level market.

David & John Anderson fabrics are light, natural and pleasant to the touch, featuring

refined patterns.

Among its fabrics, David & John Anderson offers Cullinan, created from a double-twisted

yarn with NE 300/2 count of the precious Giza 45 cotton and Millennium Star created

in 2011, the most precious cotton fabric ever made. Three extremely fine 330/1 count

Giza 45 cotton threads are combined together to obtain a 330/3 yarn, using triple twisted

processing and the result is a cotton fabric of excellence, with a silky, soft and unique touch

featuring compactness, durability and natural brightness. Given the great demand for

this item and the limited availability of the yarn, the waiting list for this fabric may be

longer than six months.


26

The British brand Thomas Mason was founded in 1796, at the height of the Industrial

Revolution in Lancashire. It specialises in the production of cotton fabrics for shirts woven

exclusively with Egyptian long staple two-fold yarn. In a short time Thomas Mason became

a standard of English elegance, even a little whimsical at times, consolidating its position

as the supplier of the shirt makers at Jermyn Street in London; the shirt capital of the world.

Thomas Mason fabrics have retained the technical characteristics and style that made it

famous. In 1992, the Albini Group acquired this brand and its valuable historical archive

consisting of 700 volumes dating back to the mid-nineteenth century, still a source of

inspiration for the most prestigious designers in the world.

The leading products of Thomas Mason include the Giza 87 collection featuring fabrics

made with the precious Egyptian Giza 87 cotton, silky at first touch with no change after

repeated washings.

In 2012, the project “Thomas Mason Bespoke”, launched in 2009, continued its success,

offering a cut length service for the best tailors and shirt makers around the world, with

quick delivery time. The service is supported by an e-commerce channel dedicated to B2B.

1

2

2000

72

3232

3231

4155


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The Group launched the “Albini, donna” collection in 2012, the first dedicated ladies

collection, created for an elegant and sophisticated woman.

Modern stretch fabrics with a light and opaque freshness give flavour to natural materials,

pure cottons, silks and blends of different materials.

The creation of printed fabrics based on stretch cotton, linen, cotton and silk with

abstract, floral, two-tone and brightly coloured micro-geometric motifs is notable.


28

The Manifattura di Albiate was created in 1830 by the initiative of Giuseppe Caprotti.

It was acquired by the Albini Group in 2000.

Over the years Albiate 1830 has focused its products on a younger market which

appreciates quality fabrics and has become a brand recognised internationally for its

authority on fabrics for sports shirts and denim.

Albiate 1830 offers a wide variety of fabrics and finishes, with patterns that are sometimes

very colourful.

Denim is the strength of the collection, thanks to continuous innovation and stylistic

research. It has been reinterpreted in all styles, from classic to sport to fashion, combining

the knowledge of the Group about shirting fabrics in terms of quality, structure and

pattern, with the typical characteristics of the indigo yarn.

Another dominant theme of Albiate 1830 products is Jacquard with patterns that can be

classic, but often become fun, creating fabrics with a distinct identity.

I N T E R N AT I O N A L P R E S E N C E

The Group has an extensive and growing international presence and is at the service of

the best Clients worldwide. This is confirmed by its growing exports which were over 70%

in 2012, directed to more than 80 countries. Even the remainder sold in Italy feeds

indirect export as it is intended for brands which in turn are popular in the world for their

finished garments.

The growth in exports was recorded especially in case of the finest and most refined

fabrics, the authentic expression of the Made in Italy brand. Even in Italy the market held

up where it was targeted towards the major players who export “Made in Italy” values

worldwide, creating products with the utmost attention to quality and innovation.

The Clients of the Group include the most important names in International fashion,

luxury brands, specialised shirt makers and distributors of fine fabrics. In 2012, the Group

continued to invest in “ingredient branding” to support Clients in educating the end user

about the quality of raw materials with informative hangtags, sewn labels and customised

selvages to highlight the value of the product. Training activities have been carried out for

the staff of some Customers the Group works with, creating in-store activities with Clients

and using new media to speak to new generations.

The Group invests in marketing to make the excellence of the product known and

relevant to the end user. This is a win-win alliance between the brands of the Group

and the brands of our Clients.


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AT T E N T I O N TO T H E E N V I R O N M E N T

Protecting the environment, improving environmental standards and product quality,

using processes that reduce interaction with the environment and employing energy

resources and raw materials efficiently are goals that Albini Group has pursued over the

years. The Group, after years of constant effort and significant investments in terms of

energy saving, formed Albini Energia in late 2011. This new company was created from

the experience gained over the years in energy optimisation and exploitation of alternative

energy sources, which led to the installation of three cogeneration units (for a total power

of 4 MW), a 688 kWp photovoltaic plant on the roof of the factory in Mottola for internal

use and numerous measures for energy saving and efficiency of production facilities.

Albini Energia is working in particular on the exploitation of alternative energy sources:

in 2012 projects were carried out on the production of hydro, solar and wind power.

Three hydroelectric plants powered by running water, between 40 and 100 kW, are being

built, fully integrated with the current territorial and environmental planning tools; the

plants, in addition to generating a good output guaranteed by the grants on renewable

sources currently in force, also allow for the maintenance of the waterways involved.

A hydroelectric turbine was installed at the production site in Albino, while a wind

turbine of 50 kW and a new integrated photovoltaic system of 100 kWp were installed

in the production site of Mottola.

In addition to investments in renewable energy, the Group has done a great job in the

reduction of electricity consumption and natural gas. In particular important measures

were put in place at the production site in Mottola, at the Albino headquarters, at the

Lethorad facility and the finishing facility in Brebbia, with a major impact on reducing

energy consumption and emissions of carbon dioxide.

Albini Energia is also developing consulting, engineering, general contractor activities and

assists other companies in the choice of partners for the supply of electricity and natural

gas and for the definition of energy saving policies.

Albini GroupVia Dr. Silvio Albini, 1 - 24021 Albino (BG) Italy - Tel. +39 035 777 111 - Fax +39 035 777 507-510

[email protected] - www.albinigroup.com

annual report 2012 1 ingl - albini group hong kong trading opening in march 2013 mediterranean...

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