4Science SpA: The Board of Directors of 4Science S.p.A. examined and approved the draft financial statements at 31ST December 2022

which confirm strong growth, stability of margins, operating cash generation.

Milan (pta017/24.03.2023/10:45 UTC+1)

Press release

The Board of Directors of 4Science S.p.A. examined and approved the draft financial statements at 31ST December 2022, which confirm strong growth,

stability of margins,

operating cash generation.

Convocation of the Ordinary Shareholders' Meeting 27 April 2023

Financial Results for the year FY2022:

• Revenues for "core" products and services Euro 2.24 million against Euro 1.82 million in 2021 (+23%), of which 60% abroad
• Value of Production up +26.5% to Euro 3.09 million (Euro 2.44 million in 2021)
• Almost constant gross margin of 88.5% of total revenues
• Ebitda stable at Euro 0.71 million (Ebitda margin 23.0%) against Euro 0.73 million in 2021
• Ebit at Euro 0.45 million (Ebit margin 14.4%) compared to 0.52 million in 2021
• Net Profit Euro 0.23 million against Euro 0.33 million in 2021 allocated to reserve
• Operating cash flow (after changes in working capital) of Euro 0.83 million, with cash conversion equal to 117% of Ebitda
• Shareholders' equity quadrupled to Euro 4.1 million compared to the end of 2021, thanks in particular to the capital increase functional to the listing on the Direct Market in Vienna
• NFP of approximately Euro 2.01 million (net cash) of which Euro 1.44 million cash available on spot basis
• Investments in fixed assets equal to Euro 1.2 mln
• Increase in staff to 27 employees at 31 December 2022 (compared to 20 employees a year earlier, +7 units), with a view to strengthening the commercial and technical structure in order to make it consistent with the growth forecast in the business plan

Milan, 24 March 2023 – 4Science S.p.A. (Isin Code IT0005503989, ticker "4SCI", hereinafter also "4Science" or the "Company"), Innovative SME listed on the MTF Direct Market of the Vienna Stock Exchange and part of the Itway Group (listed on the Euronext Milan market, Isin Code IT0003057624), specified in Data Science, Data Management and Data Repository for the Scientific Research, Cultural Heritage and BigData market, announces that the Board of Directors has examined and approved the Company's draft statutory financial statements.

The company closed 2022 with Euro 3.09 million in Production Value (+26.5% on the previous year) and a stable Ebitda of Euro 0.71 million (with Ebitda margin of 23.0%) and a Net Profit of Euro 0.23 million (0.33 million in 2021).

The NFP at the end of 2022 amounted to Euro 2.01 million (net cash), of which Euro 1.44 million in spot cash.

Since the Gross margin is almost constant (88.5% of total revenues), the slight decrease in margins at the level of Ebitda (and therefore Ebit and Net Profit) is explained by the huge investments in structural costs, and in particular in the increase of +7 units of qualified personnel, which brings the total employees to 27 at the end of 2022.

Research and Development activities have increased; in particular, total investments tripled compared to 2021, amounting to Euro 1.2 million.

Operating cash flow amounted to Euro 0.83 million, with a cash conversion rate of 117% of Ebitda.

The Board of Directors also resolved to convene the ordinary shareholders' meeting for 27 April 2023 with the agenda "Examination and approval of the Financial Statements at 31 December 2022. Related and consequent resolutions."

The notice of call will be published within the time limits and in the manner prescribed by law and by the Articles of Association.

"We are very pleased to close the first financial statements as a listed company, with data that confirm a seamless growth for 2022, as has happened since the birth of 4Science" comments G. Andrea Farina, President of 4Science. "In the last 3 years we are proud to have even more than doubled our turnover, and this without neglecting the attention to the creation of value in terms of margins and ability to produce op andrational cash. The slight decline in margins is explained by the fact that we wanted to strengthen our structure, increasing the workforce by more than a third, in a market where people are the ones who make success.

The results are even more valuable if we think that we have managed to achieve them in a historical period and moment that has not given the slightest respite either to the global industry or to the financial markets on a global scale".

About 4Science S.p.A.

4Science S.p.A. (Isin Code IT0005503989, ticker "4SCI"), a company listed on the Direct Market of Vienna, is an Innovative SME belonging to the Itway Group - listed on Euronext Milan - specialized in Data Science, Data Management and Data Repository for the Scientific Research, Cultural Heritage and Big Data.

For more information see www.4science.it.

About Itway S.p.A.

Founded in Ravenna on 4 July 1996 by G. Andrea Farina, Itway S.p.A. (Isin Code IT0003057624, ticker "ITW") is the head of a Group that operates in the IT sector for the design, production and distribution of technologies and solutions in the field of cybersecurity, artificial intelligence (AI), cloud computing and big data.

For over 25 years, the group has been the benchmark in the field of Digital Transformation solutions and services.

Since 2001 Itway has been listed on the Mercato Telematico Azionario (MTA) of the Italian Stock Exchange.

Contacts

Massimo Grosso

Member of the Board of Directors and Head of Investor Relations

Cell. +39 327 9031218

ir@4science.it

4Science S.p.A.

Via Achille Papa, 30 - 20149 Milan

Phone +39 02 3971 0430

www.4science.it

This press release is available at the Company's registered office and website at www.4science.it.

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Emitter:	4Science SpA Viale Achille Papa 30 20149 Milano Italy
Contact Person:	Massimo Grosso
Phone:	+39 327 9031218
E-Mail:	massimo.grosso74@gmail.com
Website:	www.4science.com
ISIN(s):	IT0005503989 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Vienna MTF)