Italeaf

News from Italeaf

09Oct 2017
  • The agreement for a total value of Euro 0.84 million will involve the Group’s digital company in a temporary partnership with Siemens and Leonardo
  • Softeco Sisma twill provide solutions for corrective maintenance and inventory management on behalf of e-distribuzione SpA
  • The Group’s expertise in the Smart Solutions and Services sector has been recognized

 

TerniEnergia, a company listed on the Star segment of the Italian Stock Exchange and part of the Italeaf Group, announces that Softeco Sismat – the Group’s digital company -, in a temporary business partnership with Siemens and Leonardo, has signed a corrective maintenance contract on behalf of e-distribuzione SpA, an Enel Group company active in the network and smart grids management sector.

The contract provides for the provision of remote control services for e-distribution networks for 2017-2018 for a total amount of Euro 0.84 million.

In particular, the consortium between Siemens, Softeco Sismat and Leonardo, will be responsible for corrective, functional, emergency and maintenance services, specialist assistance and warehouse management of remote control systems and e-distribution.

The agreement with primary partners in the sector and the award of the contract testify to the acknowledged competence of the TerniEnergia Group as “technological enabler” in the Smart solutions and services for the energy sector and, in particular, for Smart grids, as set out in the strategic guidelines presented to the market on 29 September 2017.

 

TERNIENERGIA (TER.MI), established in September 2005, and part of Italeaf Group, is the first Italian smart energy company, committed to bring worldwide integrated and sustainable energy solutions. Organized into two straegic business units (Assets and Smart solutions and services), with about 400 employees and a geographic presence in almost the continents, with operational and sales offices, TerniEnergia develops solutions, innovative products and services based on digital and industrial technologies for the energy sector.

TerniEnergia, also through its subsidiaries (Softeco Sismat, Selesoft Consulting, Greenled Industry,GreenAsm, Wisave, Ant Energy), shall pursue the objectives of increasing energy production from renewable sources, energy efficiency and emissions reduction, as laid down by European environmental policy, and participates actively in the distributed power generation revolution and energy smart grids.

TerniEnergia is the ideal partner for large utilities, distributors and grid operators, power producers, public authorities, industrial customers and investors who intends to carry out large projects for the production of renewable energy plants and modern systems with high energy efficiency, solutions for the management and maintenance of the infrastructure and the electrical systems. TerniEnergia, through a complete technological and commercial offer, develops and provides technologies, turn-key services and solutions for energy consumers in the public and private sectors. The company is listed on the STAR segment of the Italian Stock Exchange.

press-release_teati_09-10-2017

 

05Oct 2017
  • The Group’s digital company at the head of a research project on the “Mobility as a service” paradigm, which received funding of approximately €3.7 million under the Horizon 2020 community programmes.
  • Softeco Sismat will receive Euro 0.9 million for the development of smart city solutions

 

TerniEnergia, a company listed at STAR segment of Borsa Italiana and part of Italeaf Group, announces that Softeco Sismat, the Group’s digital company, is at the head of the IMOVE research project (Unlocking Large-Scale Access to Combined Mobility through a European MaaS Network), co-funded by the EU’s Horizon 2020 programme and aimed at experimenting and validating the Mobility-as-a-Service (Maas) model, through pilot projects in different European cities and regions.

The project has a total cost of about 3.7 million Euros, fully financed by the European Union. EU funding to Softeco amounts to Euro 0.9 million.

Softeco Sismat acts as coordinator of a consortium of 14 partners from 8 European countries, including leading research institutions, the cities of Berlin, Gothenburg, Manchester and Turin, UITP, the International Association of Public Transport Authorities and Operators. The project will have a duration of 30 months.

Beside confirming its position as a European leading player for research and innovation in the sector of sustainable mobility, thanks to IMOVE Softeco will consolidate its competitive advantage and will further develop its offering of ICT and as-a-service products and solutions for sustainable mobility, a market segment already addresed by Softeco through a rich and articulated offering and an area of a rapidly growing interest for mobility operators and public authorities engaged in the development of advanecd solutions for the smart city.

An emerging model for the provision of smart, personalised and sustainable mobility schemes, Mobility-as-a-Service (MaaS) will allow citizens to benefit from advanced, integrated services combining multiple operators and service providers, public and private schemes, collective and individual transport, sustainable modes including wehicle sharing, lift sharing and electric mobility. A MaaS scheme is able to offer ad hoc, integrated “mobility packages” flexibly adapted to users’ needs and accessible according to multiple booking-payment-use models – from flat-rate subscription to travel packages, pay-per-use, etc. – meeting the specific requirements and interests of travellers.

 

 

TERNIENERGIA (TER.MI), established in September 2005, and part of Italeaf Group, is the first Italian smart energy company, committed to bring worldwide integrated and sustainable energy solutions. Organized into four business lines (Technical services, Energy management, Energy efficiency and Cleantech), with about 400 employees and a geographic presence in almost the continents, with operational and sales offices, TerniEnergia develops solutions, innovative products and services based on digital and industrial technologies for the energy sector.

TerniEnergia, also through its subsidiaries (Softeco Sismat, Selesoft, Greenled Industry,GreenAsm, Wisave, Ant Energy), shall pursue the objectives of increasing energy production from renewable sources, energy efficiency and emissions reduction, as laid down by European environmental policy, and participates actively in the distributed power generation revolution and energy smart grids.

TerniEnergia is the ideal partner for large utilities, distributors and grid operators, power producers, public authorities, industrial customers and investors who intends to carry out large projects for the production of renewable energy plants and modern systems with high energy efficiency, solutions for the management and maintenance of the infrastructure and the electrical systems. TerniEnergia, through a complete technological and commercial offer, develops and provides technologies, turn-key services and solutions for energy consumers in the public and private sectors. The company is listed on the STAR segment of the Italian Stock Exchange.

press-release_te-imove_2017-10-05

29Sep 2017

 

The Board of Directors approved the results as at 30 June 2017. NAV equal to Euro 33.5 million. Ebitda increased of 28.8%. Net Result amounted to Euro -0.2 million

  • Revenues amounted to € 1.9 million (€ 40.8 million for the Italeaf Group consolidated)
  • EBITDA equal to € 0.5 million (€ 6.9 million for the Italeaf Group consolidated)
  • EBIT amounted to € 0.2 million (€ -6.5 million for the Italeaf Group consolidated)
  • EBT equal to € -0.3 million (€ -9.9 million for the Italeaf Group consolidated)
  • Net Result amounted to € -0.2 million (€ -6.6 million for the Italeaf Group consolidated)
  • Shareholders’ Equity amounted to € 6 million (€ 60.4 million for the Italeaf Group consolidated)
  • NFP of € 8 million (€ 104 million for the Italeaf Group consolidated)
  • NAV equal to € 33.5 million

 

The board of directors of Italeaf, holding company and first Italian company builder active in cleantech and smart innovation sectors, listed on on NASDAQ OMX First North, has approved today the interim report as at 30 June, 2017.

 

Financial highlights*

As at June 30, 2017 As at June 30, 2016 Change %
 in Euro
 Revenues from sales and services 1,870,789 1,928,473 -3%
 EBITDA 471,846 366,354 28,8%
 EBIT 165,820 65,245 n.a.
 EBT (274,377) (3,262,516) -91.6%
 Net profit/(loss) (177,433) (3,314,038) n.a.
 Net working capital (1,178,419) (1,050,052) +10,9%
 Shareholders’ equity 28,562,656 27,040,087 +5,6%
 Total net financial debt 15,768,878 17,007,361 +7,8%

*Separated Interim Report prepared in accordance with accounting principles ITALIAN GAAP

 

The NAV of Italeaf amounted to Euro 33,5 million as at June 30, 2017, with an increase of 13.7% compared to December 31, 2016.

 

The Interim Report as at June 30, 2017 in full version and in English will be published on the Company’s website and on Nasdaq Inpublic.

 

Italeaf SpA is obliged to make public this information pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 22.00 CET on 29 September 2017.

press-release_intrep1h_2017-09-29

 

29Sep 2017

• THE PLAN AIMS TO DEFINE THE GROUP’S NEW IDENTITY AS A “GLOBAL SMART TECHNOLOGY ENABLER” FOR ENERGY AND ENVIRONMENTAL EFFICIENCY
• REVENUES FOR CIRCA 226 MILLION EUROS AND EBITDA MARGIN OF 16% IN 2020
• FOCUS ON DIGITAL TRASFORMATION, GRID BALANCING AND DEMAND RESPONSE MARKET ENTRY, SMART MICROGRID DEVELOPMENT, THE RELAUNCH OF ACTIVITIES IN ENERGY TRADING, THE DEVELOPMENT OF THE SMART MOBILITY SECTOR, EXPONENTIAL GROWTH IN SERVICE ACTIVITIES, DEBT REDUCTION, BALANCE SHEET REINFORCEMENT AND EFFICIENCY IN THE MANAGEMENT OF FIXED COSTS
• DELEGATED POWERS TO THE VICE PRESIDENT MR. GIULIO GALLAZZI AND TO THE EXECUTIVE DIRECTOR MS. LAURA BIZZARRI
• MAIN PLAN OBJECTIVES:
o EXPECTED REVENUES IN 2020: CIRCA 226 MILLION EUROS, WITH REPOSITIONING IN THE “SMART SOLUTIONS AND SERVICES” SECTOR BEING CRUCIAL IN CONTRIBUTING TO REVENUES
o EXPECTED EBITDA MARGIN: 16% IN 2020
o EXPECTED EBIT IN 2020: CIRCA 26 MILLION EUROS
o FURTHER SEMPLIFICATION OF THE GROUP’S ORGANISATIONAL STRUCTURE TO INCREASE VALUE CREATION
o TRANSITIONAL PHASE FOR THE COMPLETION OF THE UTILITY SCALE PHOTOVOLTAIC PROJECTS IN TUNISIA AND ZAMBIA

The Board of Directors of TerniEnergia, the smart energy company which is part of Italeaf Group and is listed on the Star segment of Borsa Italiana, has approved the guidelines of the new strategic three year plan for the 2018-2020 period.

The Vice President Mr Giulio Gallazzi, with powers for the financial aspects and the formulation of proposal for extraordinary transactions, stated:

The approved Plan is based on criteria of credibility and prudence, with regard to industrial and economic-financial aspects. The Board of Directors decided to proceed with a prudent and rational management of the transition, despite the fact that significant strategic changes have been planned and started towards a company with an increasingly higher technological content. The guidelines outlined above highlight clear and high potential prospects, which have already led to the identification of important development opportunities in Italy and abroad”.

*****

The plan is focused on the Group’s strategic repositioning, which thanks to the integration of digital companies Softeco Sismat and Selesoft, will complete the transformation from leader in the photovoltaic sector to smart energy company acting as a “technology enabler” for the efficient use of energy and resources.

The main objective of the plan is to reposition the Group towards providing services and solutions with greater added value and high technology content. Such activities allow for resource efficiency by developing and implementing solutions in the fields of power generation, energy saving, energy trading and sustainable mobility. Further to this the Group will continue to innovate and develop activities in renewable energy asset management as well as in energy efficiency and resource recovery in the environmental and cleantech sectors. There is therefore a clear prevalence of activities related to services and solutions with a high technological content over the activities that have characterised the Group in the past.

The strategic guidelines were drawn up before the natural expiry of the previous business plan, as a result of the acceleration of the transformation process of the core-business. This led to significant non-recurring writedowns, mainly related to international projects in the photovoltaic EPC sector, which affected the results of the half-year financial statements.

Expected growth is supported by an exponential increase in service activities (Consulting, Solutions, Management, On-site engineering and operations, Smart trading), including the relaunch of energy trading, which will account for over 90% of total revenues in 2020 (the consolidated revenues target for 2020 is circa 226 million euros) as well as for 75% of Ebitda in the next three years (Ebitda target in 2020 is circa 35 million euros, with Ebitda margin above 16%).

Foreseen Ebitda growth will be achieved thanks to the quality of the client portfolio and the consequent increase in turnover.

In terms of Ebit, the objective is to reach circa 26 million euros by 2020.

Forecasts were made considering medium and long term macroeconomic scenarios, the evolution of the energy sector and the expected digitalisation of electricity services and sustainable mobility. Activities will therefore principally be focused on emerging sectors which have high growth potential due to digital transformation and high demand for dedicated technologies. In view of this the following objectives have been set:

  • grid balancing and demand response (consumer and supply-side aggregator) market entry;
  • development of smart microgrids;
  • relaunch of energy trading activities;
  • development of the smart mobility sector;
  • significant increase in service and consultancy activities with high technology content.

Objectives will be reached also by reducing the impact of both general costs and capital intensive investments on turnover. Cost efficiencies will continue to be pursued through activities which aim to improve internal processes in relation to working capital, procurement, human resources and plant management.

The first step towards the semplification of Group structure, operational efficiency and reduced complexity is a reduction of the number of SBUs (Strategic Business Units) from four to two: (1) Assets (which includes power generation activities and the management of environmental sector plants for resource recovery and recycling) and (2) Smart Solutions and Services (organised according the the following LOBs: Consulting, Solutions, Management, On-site engineering and operations, Smart trading).

The Board of Directors has delegated to the Vice President, Mr. Giulio Gallazzi the power to take care of the financial matters and formulate proposals for extraordinary transactions relating to them. The powers of the Executive Director, Laura Bizzarri, have also been extended with the conferral of ordinary administration powers with a limit of Euro 2 million per transaction.

These measures, together with further actions such as the withdrawal – as per the decision of the Board of Directors – of the collective layoffs announced in August, the definition of a personnel management plan supported by the “Cassa Integrazione straordinaria” redundancy fund and the completion of the utility scale photovoltaic plants in Tunisia and Zambia, will give greater flexibility to the Group and a more rationalised allocation of costs, therefore adding value to the project backlog. Expansion of the Group’s presence in Milan is also planned in order to improve access to the growing worldwide market for smart technologies.

Central to the new plan will be maintaining a solid financial structure in order to improve the net financial position and reduce financial expenses. TerniEnergia has begun a deleveraging process in order to strengthen its balance sheet. This process, which has the objective of guaranteeing the financial resources necessary to support development over the next three years, may involve current shareholders as well as potential investors and/or industrial partners.

press-release_telgs2018-20_29-09-2017slide

15Sep 2017

The Board of Directors of TerniEnergia, a company listed on the Star segment of Borsa Italiana, approved by a majority the no confidence against the Chief Executive Officer Piero Manzoni, taking note of the resignation of Mr. Piero Manzoni, and contesting in full the reasons put forward by the CEO for his resignation. The Board of Directors does not believe that the conditions are met for the payment of any indemnity in favour of the same.

The Board also reconfirmed the powers already delegated to the directors Mr. Fabrizio Venturi and Ms Laura Bizzarri, as well as to the Chairman of the Board of Directors Mr. Stefano Neri, in order to ensure the stability and continuity of the Company’s governance.

 

TERNIENERGIA (TER.MI), established in September 2005, and part of Italeaf Group, is the first Italian smart energy company, committed to bring worldwide integrated and sustainable energy solutions. Organized into four business lines (Technical services, Energy management, Energy efficiency and Cleantech), with about 400 employees and a geographic presence in almost the continents, with operational and sales offices, TerniEnergia develops solutions, innovative products and services based on digital and industrial technologies for the energy sector.

TerniEnergia, also through its subsidiaries (Softeco Sismat, Selesoft, Greenled Industry,GreenAsm, Wisave, Ant Energy), shall pursue the objectives of increasing energy production from renewable sources, energy efficiency and emissions reduction, as laid down by European environmental policy, and participates actively in the distributed power generation revolution and energy smart grids.

TerniEnergia is the ideal partner for large utilities, distributors and grid operators, power producers, public authorities, industrial customers and investors who intends to carry out large projects for the production of renewable energy plants and modern systems with high energy efficiency, solutions for the management and maintenance of the infrastructure and the electrical systems. TerniEnergia, through a complete technological and commercial offer, develops and provides technologies, turn-key services and solutions for energy consumers in the public and private sectors. The company is listed on the STAR segment of the Italian Stock Exchange.

 

04Aug 2017

In line with the target to carry out a strategic repositioning of the Group, focusing on the most value-added business opportunities in the field of smart services and solutions applied to the energy efficiency sector, both in the field of electricity and mobility applications and asset management and in the field of the intelligent system for the recovery of natural resources, the Board of Directors of TerniEnergia S.p.A. – a company listed on STAR segment of Borsa Italiana – has today resolved to intervene on the activities related to engineering for the photovoltaic systems and energy saving and reduce the costs related to the industrial site of Nera Montoro (TR), which has high fixed costs and both commercial and logistic problems, structural and ineliminable.

On the basis of the above mentioned reasons, the Company is therefore forced to proceed with a collective redundancies procedure which will involve a total of no. 66 employees, all currently operating at the Nera Montoro industrial site.

Of this resolution of the Board, the Trade Unions (as well as other relevant stakeholders) have been regularly  informed today, and the Company will initiate in the coming weeks a discussion, which is hoped to be constructive, with the same Trade Unions.

 

TERNIENERGIA (TER.MI), established in September 2005, and part of Italeaf Group, is the first Italian smart energy company, committed to bring worldwide integrated and sustainable energy solutions. Organized into four business lines (Technical services, Energy management, Energy efficiency and Cleantech), with about 400 employees and a geographic presence in almost the continents, with operational and sales offices, TerniEnergia develops solutions, innovative products and services based on digital and industrial technologies for the energy sector.

TerniEnergia, also through its subsidiaries (Softeco Sismat, Selesoft, Greenled Industry,GreenAsm, Wisave, Ant Energy), shall pursue the objectives of increasing energy production from renewable sources, energy efficiency and emissions reduction, as laid down by European environmental policy, and participates actively in the distributed power generation revolution and energy smart grids.

TerniEnergia is the ideal partner for large utilities, distributors and grid operators, power producers, public authorities, industrial customers and investors who intends to carry out large projects for the production of renewable energy plants and modern systems with high energy efficiency, solutions for the management and maintenance of the infrastructure and the electrical systems. TerniEnergia, through a complete technological and commercial offer, develops and provides technologies, turn-key services and solutions for energy consumers in the public and private sectors. The company is listed on the STAR segment of the Italian Stock Exchange.

 

press-release_tecda_04-08-2017

 

24Jul 2017

Italeaf, financial holding Company and first Italian Company Builder, active in cleantech and smart innovation, listed on Nasdaq First North, announce that the Company has received from Nasdaq an exemption from the rules to publish its half-yearly report within two months. As a consequence of this authorization, the Board Meeting for the approval of the half-year financial report, previously scheduled between July 31 and August 4, will be held on September 29, 2017. In the same date the half-yearly report will be published.

The Company notes that the delay is determined by the decision taken by TerniEnergia, the main company of the Italeaf Group, to use the faculty under Italian law to approve its half-yearly financial report on 28 September 2017, within three months of the end of the period. Italeaf notes that this decision was taken by TerniEnergiain consequence that on June 1, 2017, the Board of TerniEnergia S.p.A. has conferred wide management powers to eng. Piero Manzoni. The newly elected CEO has the target to develop a new Industrial Plan aimed at enhancing the Group’s technological strengths. On May 2, 2017, the Shareholders’ Meeting also assigned the mandate for the statutory audit of the consolidated and separate financial statements and for the consolidated half-yearly report of TerniEnergia SpA to the company EY SpA, for the years 2017 to 2025. Finally, on July 7, 2017, the Board of TerniEnergia conferred a mandate to a Financial Primary Advisor to assist the Company in preparing the new Industrial Plan and to verify the possible ways for a financial consolidation.

Taking note of these circumstances, Italeaf considered appropriate to postpone the approval of the half-yearly financial report as outlined above, in order to be able to estimate the half-year results and the prospective elements of TerniEnergia’s new Industrial Plan.

press-release_evsoc_24-07-2017

30Jun 2017

Italeaf announces that, with reference to the transcation of capital increase to be offered to the shareholders according  to the articles 2438, 2439 e 2441 of the Civil Code, resolved by the General Shareholders’ Meeting of Numanova SpA 23 June 2017, the first tranche of n. 250,000 ordinary shares was issued at a price of 1 Euro, and was fully subscribed by Italeaf.

The new share capital of Numanova, following the subscription, amounts to Euro 3,250,000.

Numanova is a company active in the production of high quality metal powders from ferrous and not ferrous metal alloys for the additive manufacturing industry and the more advanced applications in areas such as aerospace, energy, mechanical, biomedical.

Numanova currently has 23 shareholders; the company’s shareholder structure is as follows: Italeaf S.p.A. 85.58%, Paolo Folgarait 6.19%, other shareholders 8.23%.

press-release_cos_num-2017-06-30en

23Jun 2017
  • The new Numanova share capital will be of up to Euro 5 million
  • The Capital Increase transaction will be used to support the industrial growth of the Company

The Shareholders’ Meeting of Numanova, part of the Italeaf group, which met in extraordinary session under the chairmanship of Stefano Neri, has unanimously resolved a share capital increase, divisible to be offered to the shareholders, pursuant to the articles 2438, 2439 e 2441 of the Italian Civil Code, of Euro 2 million, through the issue of new n. 2.000.000 shares without nominal value to be subscribed by 20 December 2017.

Upon the completion of the capital increase, that will be used to substain the growth of the productive activities of the company, Numanova will have a share capital of up to Euro 5 million.

Numanova is a company active in the production of high quality metal powders from ferrous and not ferrous metal alloys for the additive manufacturing industry and the more advanced applications in areas such as aerospace, energy, mechanical, biomedical.

Numanova currently has 23 shareholders; the company’s shareholder structure is as follows: Italeaf S.p.A. 85%, Paolo Folgarait 8.5%, other shareholders 6.5%.

press-release_cos_num-2017-06-23en

15Jun 2017
  • Concluded the placement of n. 1.7 million of Italeaf shares (9.92% of the new share capital)
  • Transaction value of Euro 1.7 million, corresponding to a price of placement of the shares of new emission of Euro 1 p.s.
  • The Capital Increase transaction will be used to support the acceleration of new industrial activities and to consolidate the holding business

The Board of Directors of Italeaf, financial holding and first Italian Company Builder, active in cleantech and smart innovation, listed on Nasdaq First North, has resolved today the placement of the Italeaf ordinary shares arising from the capital increase, in one or more tranches, by paid subscription, in divisible form, with the exclusion of option rights pursuant to art. 2441, paragraph 5 of the Italian Civil Code, approved by the shareholders’ meeting on May 2, 2017 (the ”Capital Increase”).

The newly issued shares were offered for subscription in a private placement, without publication of the prospectus for the public offering and listing of the new shares by virtue of the exemptions provided by art. 100 letters a), b) and c) of the Legislative Decree no. 58/1998 (TUF) and art. 34-ter, paragraph 1 letters a), b) and c) of Consob Issuers Regulation no.11971/99, as amended (the “Private Placement”).

The placement, corresponding to 9.92% of the new share capital, took place through a bookbuilding procedure and has been restricted to qualified investors in Italy and institutional investors abroad (the “Institutional Offering”). The Institutional Offering did not result in a solicitation to investment.

The share capital increase was subscribed and paid by 4 investors for n. 1,700,000 newly issued shares and a counter value of Euro 1.7 million.

The Board of Directors also determined the placement price of the new shares, equal to Euro 1 per share (the “Placing Price”). The Placing Price was determined in accordance with the criteria defined by the Shareholders’ Meeting and disclosed to the market on May 2, 2017. Following the subscription of the newly issued shares, the post-increase share capital will be Euro 17,144,000, divided into no. 17,144,000 ordinary shares.

Following the private placement, the direct and indirect shareholding of the Chairman and CEO of the Company, Stefano Neri, was reduced from 53.71% to 48.39% of the share capital.

The transaction is aimed at put the Company in the best capital and financial conditions for increasing and consolidating its position in the holding business, combining its track record in accelerating new industries with the integration of the new digital technologies. The transaction will also increase the visibility of the Italeaf on the NASDAQ First North, enabling the entry into the stock market of qualified investors or industrial entities, also in order to improve and consolidate the corporate strategy of innovation and internationalization.

The financial resources raised by the capital increase will be placed at the service of the industrial development of the Company and will therefore not be aimed at the reduction or the change in the structure of the net financial position.

Italeaf was assisted in the capital increase transaction by SRI Capital Advisers Ltd, headquartered in London, a company specialized in advising and arranging financial transactions, as financial advisor.

press-release_cos_cda-2017-06-15en