Italeaf

News from Italeaf

07Aug 2015

The Board of Directors approved the results as at 30 June, 2015. EBT equal to Euro 0.8 million, Net profit equal to Euro 0,6 million. Significant results for the startups Greenled Industry and Skyrobotic

  • Revenues amounted to € 2 million (€ 152.8 million for the Italeaf Group consolidated)
  • EBITDA equal to € 0.3 million (€ 12.1 million for the Italeaf Group consolidated)
  • EBIT amounted to € -0.03 million (€ 8.9 million for the Italeaf Group consolidated)
  • EBT equal to € 0.8 million (€ 3.9 million for the Italeaf Group consolidated)
  • Net profit amounted to € 0.6 million (€ 2.4 million for the Italeaf Group consolidated)
  • Shareholders’ Equity amounted to € 1 million (€ 79.9 million for the Italeaf Group consolidated)
  • NFP of € 2 million (€ 121 million for the Italeaf Group consolidated)
  • NAV equal to € 37.3 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, 2015.

 

Financial highlights*

As at June 30, 2015
in Euro  
 
Net revenues from sales and services 2,068,392
EBITDA 310,595
EBIT (35,163)
EBT (Pre-tax result) 810,092
Net profit 608,218
 
Net working capital  (1,567,671)
Shareholders’ Equity 28,141,077
Total net financial position 17,258,234

 

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

 

The NAV of Italeaf amounted to Euro 37.3 million as at June 30, 2015 (Euro 36.3 million at December 31, 2014; + 2.8%).

Notice is hereby given that in the period startups subsidiaries reported the following results:

– Greenled Industry Spa: revenues of around Euro 0.75 million and EBITDA of approximately EUR 0.2 million (EBITDA margin 26.7%);

– Skyrobotic Spa: revenues of around Euro 0.32 million and EBITDA of approximately 0, 1 million (EBITDA margin 32.9%);

– Wisave Srl: selected among the 10 finalists out of over 900 participants of the Unicredit Startlab Cleantech contest, starting the installation of a pilot plant at the Science and Technology Park in Hong Kong.

The CEO of Italeaf, Mr Nicola Romito, stated:

The first half results confirm the expected improvement in the profitability of TerniEnergia, the main Group companies, but also the achievement of significant expected growth targets for Greenled and Skyrobotic, coherent with the times and the ways specified in the paths of valorisation already envisaged in the plan. The income and financial dynamics expected and planned in the coming months for the Italeaf’s group companies will favor, for the full year 2015, the improvement in results already purchases in the first half of the year. These findings confirm the value of an industrial platform with a solid capital base, characterized by an innovative and sustainable model for “direct” investments in industrial initiatives with high growth potential”.

Press-release_INTREP_2015-08-07

Italeaf – Interim Report at 30 June 2015

31Jul 2015
  • Revenues, EBITDA and Net profit grow significantly, further minimizing the NFP
  • Revenues of Euro 151.3 million (Euro 21.5 million as at 30/06/2014)
  • EBITDA amounted to Euro 10.8 million, +10% (Euro 9.8 million as at 30/06/2014), with EBITDA margin at 7.1%
  • EBIT amounted to Euro 7.9 million, + 30% (Euro 6 million as at 30/06/2014)
  • Net profit amounted to Euro 1.5 million, +23% (Euro 1.2 million as at 30/06/2014)
  • NFP of Euro 101.5 million, Euro 14.3 million of which in short term (Euro 108.2 million as at 31/12/2014, Euro 18.3 million of which in short term)
  • Net equity amounted to Euro 70.7 million, (Euro 71.3 million as at 31/12/2014)

 

The Board of Directors of TerniEnergia, smart energy company active in the fields of renewable energy, energy efficiency, waste and energy management, listed on the Star segment of the Italian Stock Exchange and part of Italeaf Group, approved today the interim financial report as at June 30, 2015.

 

Stefano Neri, Chairman and CEO of TerniEnergia commented as follows:

We are satisfied for the achieved results and the continuous improvement of all indicators, perfectly in line with the business plan. From the standpoint of strategic development, TerniEnergia has accelerated the path of internationalization in a phase in which the data of the global market for renewable and especially photovoltaic show an acceleration of the recovery, with double-digit growth. The Group intends to seize this opportunity, strengthening its scouting activities and leveraging the positive contingencies of many energy markets abroad. As part of the energy management activity, thanks to the complete integration process of New Gas Trade Srl, TerniEnergia is ready to enhance the growth trend of the natural gas and liquefied natural gas market, at this stage more profitable than the electricity one. From the financial point of view, finally, it should be emphasized the constant optimization of Ebitda/NFP ratio, with an improved performance that allows us to be confident of being able to take advantage of further progress by the end of the year”.

 

CONSOLIDATED RESULTS AS AT JUNE 30, 2015

Revenues amounted to Euro 151.3 million, showing a significant growth compared to June 30, 2014 (Euro 21.5 million). The increase is mainly attributable to the new business and organizational model.

EBITDA amounted to Euro 10.8 million, with a significant increase (+ 10%) compared to June 30, 2014 (Euro 9.8 million). The EBITDA margin is equal to 7.1%, with a decrease compared to 06/30/2014 due to the change of the business model.

Net operating income (EBIT) amounted to Euro 7.9 million (Euro 6 million as at June 30, 2014, +30%), after amortization and depreciation of Euro 2.9 million (Euro 3.7 million at the same period of 2014).

Net profit amounted to Euro 1.5 million. Net income as at June 30, 2014 was Euro 1.2 million (+23%).

The net financial position amount to Euro 101.5 million (Euro 108 million as at 31/12/2014). The non-current NFP is Euro 87.2 million, while the net financial position in short term amounted to Euro 14.3 million. The NFP/Net equity ratio equal to 1.44x, improves significantly (1.52x as at 31/12/2014) in line with the expectations of the industrial plan.

The Net Equity amounted to Euro 70.7 million, with a decrease of 1% (Euro 71.3 million at 31/12/2014), while the Fixed assets amounted to Euro 150.6 million, of which Euro 92.3 million referring to tangible assets.

 

INDUSTRIAL RESULTS AS AT JUNE 30, 2015

The state of the art of the two “giant” worksites active in South Africa (photovoltaic plants of total capacity of 148.5 MWp on behalf of a leading Italian utility) is in line with the timetable envisaged by the final contracts for the EPC (engineering, procurement and construction) and O&M (operation and maintenance). The total number of photovoltaic plants built by TerniEnergia from the beginning of its activity is equal to 273, with an aggregate capacity of approximately 284.1 MWp (15.8 MWp in full ownership and 22.8 MWp in joint venture for the Power Generation activity). Moreover, are connected to the grid biomass plants for a total of 1.5 MWe and 2 MWt.

The total energy production of the full ownership and joint ventures plants for the power generation business, in the first half was equal to around 33,11 million kWh. In the environmental sector are operating a treatment and recycle plant of end of life tires (ELTs), the GreenAsm biodigestion and composting plant and finally the groundwater remediation plant in Nera Montoro (TR).

During the period the Group Free Energia has managed 700 GWh of energy for energy-intensive customer. Lucos Alternative Energies has completed lighting energy efficiency sites of industrial scale for a primary Italian cement group, for around 5,200 light points, with an expected savings of 68% and a delta of energy saving of approximately 16.43 million kWh.

 

SIGNIFICANT EVENTS OCCURRED AFTER THE END OF FINANCIAL YEAR

Green light from the Board of Directors to acquire the remaining share capital of New Gas Trade Srl held by Intermonte Holding Sim

On July 9, 2015 The Board of Directors of TerniEnergia resolved the acquisition of the remaining 15% of the share capital of the company New Gas Trade Srl (NGT), actually owned by Intermonte SIM Holding, a company regulated MiFID.The sales price of the shares has been agreed between the parties to Euro 49 thousand and the payment by TerniEnergia was in cash.

 

TerniEnergia enters in RES4MED international network

On July 16, 2015, TerniEnergia joined RES4MED as Ordinary Member. The new Member will strengthen RES4MED’s mission, proposing renewable energy and energy efficiency solutions to meet local needs.

 

TerniEnergia inaugurates new ELTs plant of Borgo Val di Taro

On July 21, 2015, TerniEnergia has inaugurated its second plant for the treatment and recovery of End of Life Tires (ELTs), located in the municipality of Borgo Val di Taro (Parma). The plant has a processing capacity of 26,400 tons/year. Reclaimed and renovated an industrial area of around 10,000 square meters, 2,000 of which are covered. Total investment of Euro 5.5 million. With two ELT plants in Nera Montoro (TR) and Borgo Val di Taro (PR), TerniEnergia candidates itself to reach a processing capacity of around 20% of the domestic market.

 

BUSINESS OUTLOOK

TerniEnergia is continuing the development of the strategy for the year 2015, contained in the business plan “Fast on the road smart energy”. In particular, the company is increasing the contribution from contracts in photovoltaics sector already acquired and being acquired abroad, partly as a result of compliance with the timetable provided in the definitive agreements. The company also intends to take advantage of the international context extremely positive for the sector, with the data that lead to predict a strengthening of the recovery in 2015. The analysis of the main international financial institutions also emphasize the negligible impact that the oil price has on many markets electrical and flag as the loss of value of the shares of some companies in the solar, which took place in recent weeks following the collapse of oil, could be “an attractive entry point for investors”. In this direction, the Group continues scouting and market analysis for the development possible partnerships in PV EPC, in order to assess the possibility of setting up an “Italian leader” industrial platform for the achievement of large contracts abroad.

In addition, consistently with the strategic targets already declared in the Business Plan, TerniEnergia completed the full integration into the Group of Lucos Alternative Energies, initiating and consolidating the activities of the Business Line “Energy saving”, from which is expected a growing activity.

A similar perspective is expected after the enter in the natural gas and liquefied natural gas market, thanks to the completion of the acquisition of New Gas Trade and full integration into Business Line “Energy Management”, through the market access of dual fuel offer for industrial customers.

TerniEnergia continued its research of the best opportunities to enter into the field of development and industrial production of smart solutions and technologies for energy efficiency and cleantech.

The Company will also continue the process of strengthening the scope of the environmental asset, starting the activity of the new plant for the treatment and recovery of “secondary raw material” from end of life tires in Northern Italy, at Borgo Val di Taro (PR). Finally, will be installed the new treatment plant of industrial fluid waste in Nera Montoro (TR), which granted the authorization phase. The new water remediation plant will intercept a substantial demand (58 thousand cubic meters/year) in a market segment experiencing a high technological activity with high growth prospects.

 

TerniEnergia, a company incorporated in September of 2005 and part of Italeaf Group, is the first Italian smart energy company and operates in renewable energy, energy efficiency, energy and waste management. TerniEnergia operates as system integrator, with a turn-key offer of industrial sized photovoltaic plants, on behalf of third parties and on its own, for the Power Generation business, also through joint venture companies with leading national players. TerniEnergia operates in the waste management sector, recovery of the material and energy, development and production of technologies. In particular, the Company is active in the recovery of tires out of use, in the treatment of biodegradable waste through the implementation of biodigesters, management of plant for the biological depuration; decommissioning of industrial plants, recovery of demolition metals and cleaning of industrial sites; development and production of technological apparatus.

Through Free Energia, the Group is active in the energy management, energy sales to energy intensive customers, software and services for energy management, administrative, financial and credit management. Through New Gas Trade, the Group i salso active on the natural gas and liquefied natural gas (LNG) market, offering a range of services and activities in order to develop Client’s business and achieve a competitive advantage providing the best market conditions and creating a high added value.

TerniEnergia operates in the development of energy efficient plants both through EPC scheme and FTT scheme (Financing Through Third Parties), pursuing the objectives of increasing energy production from renewable sources, of energy saving and reduction of emissions as set forth by environmental European policy.

TerniEnergia is listed on STAR segment of Borsa Italiana S.p.A..

 

Press Release_TE-2015-07-31

04Jun 2015

EnVent Research & Analysis Division has started its Coverage of Italeaf S.p.A., a Company listed on Swedish NASDAQ OMX First North. Italeaf is the holding company of TerniEnergia Group, specialist in renewable energy and cleantech. The Group as a whole promotes business initiatives in the cleantech sector and in innovative technologies. Italeaf supports new initiatives through direct investment in enterprises with high growth potential and providing cutting-edge infrastructure, corporate services and network opportunities. The well-established companies in the portfolio of Italeaf are TerniEnergia and the just acquired Free Energia. High tech startups: GreenLed Industry – heavy-duty LED; SkyRobotic – civil drones; WiSave – smart devices for remote control of energy consumption.
Based on our forecasts and valuation models, we derived a target price of €1.94 per share, 28% upside vs. the current share price, rating OUTPERFORM.

Italeaf Research

25May 2015

The Board of Directors approved the results as at 31 March, 2015. EBT equal to Euro 1 million, Net profit equal to Euro 0,7 million. Investment in startups for Euro 0,4 million

  • Revenues amounted to € 0,8 million (€ 70 for the Italeaf Group consolidated)
  • EBITDA equal to € -0,2 million (€ 6,2 million for the Italeaf Group consolidated)
  • EBIT amounted to € -3,6 million (€ 4,7 million for the Italeaf Group consolidated)
  • EBT equal to € 1 million (€ 2,6 million for the Italeaf Group consolidated)
  • Net profit amounted to € 0,7 million (€ 1,9 million for the Italeaf Group consolidated)
  • Shareholders’ Equity amounted to € 29,5 million (€ 80,7 milioni for the Italeaf Group consolidated)
  • NFP of € 17, 6 million (€ 125,2 for the Italeaf Group consolidated)
  • NAV equal to € 41 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 31 March, 2015.

Financial highlights*

As at 31 March, 2015
in Euro
Net revenues from sales and services 777,380
EBITDA (218,738)
EBIT (359,773)
EBT (Pre-tax result) 1,002,930
Net profit 708,695
 
Net working capital  (104,228)
Shareholders’ Equity 29,477,074
Total net financial position 17,593,666

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

 

The NAV of Italeaf amounted to Euro 41 million at 31 March 2015 (Euro 36.3 million at December 31, 2014; + 13%).

The investments for the development and the growth of the startup companies in the period was approximately equal to Euro 0,4 million and dedicated to Skyrobotic Spa and Greenled Industry Spa.

The CEO of Italeaf, Mr Nicola Romito, stated:

We are pleased with our results in the first quarter, which are in line with the forecasts of the strategic development plan of the company, aimed at consolidation of the company builder activity. There are, therefore, all the conditions to achieve the targets that Italeaf has fixed with a three-year perspective, also because of the opportunity to create value from the return of investments in startups. Goes in this direction the investment of approximately Euro 0.4 million made during the period to support the development of manufacturing initiatives in growing stage”.

The Interim Report as at March 31, 2015 in full version and in English, attached to this press release, will be published on the Company’s website.

Press-release_INTREP_2015-05-25

15May 2015

Following the the press release dated last February 27, TerniEnergia informs that on May 14, 2015 was signed the act of merger by incorporation in TerniEnergia Spa of Lucos Alternative Energies Spa.

The strategic traget of the transaction is to enhaance the business development in the energy efficiency field, through the dedicated business line “energy saving”. In particular, the Merger will result in a shortening of the company’s control chain that will allow a better financial management of energy efficiency, a better coordination of industrial energy saving activity, the achievement of production and financial synergies and the fullfilment of significant savings in operating and managing fixed costs.

The legal effects of the Merger shall be effective from the date of signing of the act, however completed the filing of at the relevant Companies Register, while the accounting and tax effects shall be effective from the January 1, 2015.

Press Release_TE-2015-05-15

07May 2015
  • Net asset value (NAV) amounted to Euro 41 million at 31 March 2015 (Euro 36.3 million at December 31, 2014; + 13%)
  • The plan includes: corporate governance strengthening, starting relevant synergies for the scouting of the best startup and industrial initiatives, diversification of the sectors for direct investements in technological areas related to cleantech, full sustainability of the cost/income ratio thanks to the business lines real estate, holding and company builder
  • Portfolio of overall 8 startup companies in the period of the plan, with exit 2 in 2016 and 1 exit in 2017, IRR expected greater than or equal to 30%
  • EBT expected to Euro 2.9 million in 2015, Euro 3.6 million in 2016 and Euro 4.5 million in 2017
  • Capital gain 2015-17: + 75%
  • Target of NFP/Net Equity ratio less than or equal to 0.8x
  • Investments 2015-17: Euro 5.2 million for the setting up of new startup companies in industrial sectors with high growth prospects
  • Dividend increase of 10% per year compared to the dividend 2014 of EUR 0.08 per share, in payment next June 30, 2015

 

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, under the chairmanship of Stefano Neri, has approved the strategic growth plan 2015-2017 “Bridging the gap with a company builder” and updated the NAV of the Group as at 31 March 2015.

The plan will be illustrated today to the financial community in Stockholm, during the  “Equity Day 2015” organized by the independent Swedish Shareholders Association Aktiespararna, at 11:45 CET by the Head of Development and Corporate Communications of Italeaf, Mr Federico Zacaglioni, and the CFO of Italeaf, Mr Filippo Calisti.

The event will be visible in live streaming by connecting to the link http://www.aktiespararna.se/livesandning.  The presentation will be conducted in English.

 

NAV AS AT 31 MARCH 2015

The Board of Directors of Italeaf approved the Net Asset Value as at 31 March 2015. The NAV of Italeaf amounted to Euro 41 million at 31 March 2015 (Euro 36.3 million at December 31, 2014; + 13%).

 

“BRIDGING THE GAP WITH A COMPANY BUILDER”: KEY STRATEGIES AND FIGURES

Italeaf aims to consolidate its position as the first Italian independent “company builder” active in the fields of cleantech and smart innovation.

It is confirmed the evolution of the corporate governance, with an improved board of directors composed by:

– Mr Stefano Neri recently confirmed by the General Meeting as Chairman of the Group;

– Nicola Romito, manager with many years of experience in asset management and investment advisory services, with the role of CEO, with responsibility for the strategic development and implementation of growth programs in the company’s sectors of interest;

– Monica Federici, executive director with the responsibility of the Group’s operating activities.

The new plan “” Bridging the gap with a builder company “bases its assumptions of industrial character on:

– Building of n. 1 new startup in 2015, n. 2 in 2016 and n. 2 in 2017 with the management of a portfolio of a total of overall 8 technological and industrial startups (including 3 already established, Greenled Industry, Skyrobotic and Wisave) in the three years;

– Turnover of n. 3 startup in three years, through different exit strategies (eg. M&A, IPO or entry of new shareholders or investors with the majority stakes). In particular, there are n. 2 exit in 2016 and n. 1 exit in 2017;

– Generating shareholder value and return on investment of Italeaf through these exit thanks to an expected IRR greater than or equal to 30%;

– Scouting and selection of new startups in cleantech, internet of things, additive manufacturing and 3D printing, drones, green chemistry, with a diversification of the business in order to reduce the risk of the growth potential of the newcos;

– Total investments in new startups in the three years to approximately Euro 5.2 million (Euro 1.03 million in 2015, Euro 1.85 million in 2016 and Euro 2.3 million in 2017);

– Reduction of the NFP from Euro 18.2 million in 2015 to Euro 14.6 million in 2017 with a target level of NFP/Net Equity ration less than or equal to 0.8x;

– Confirmation of dividend policy to distribute a significant percentage of the dividends received from subsidiaries. The target of the plan is to increase by 10% each year the dividend, compared to that of 2014 and amounted to EUR 0.08 gross per share (in payment next June 30, 2015);

– Full sustainability and profitability of the business through the balance of the between costs and revenues in the three years, thanks to the generation of recurring incomes from sales of services to Group companies, issuance of guarantees for subsidiaries and dividends. In particular, the plan estimated recurring incomes for Euro 17.4 million over the three years, with interim targets of Euro 5.7 million in 2015, Euro 5.8 million in 2016, Euro 5.9 million in 2017. The capital gain in the plan period is expected to grow by 75%, estimated to Euro 2.4 million in 2015, Euro 3.1 million in 2016 and Euro 4.2 million in 2017. The EBT is expected to grow from Euro 2.9 million in 2015 to Euro 3.6 million in 2016 to Euro 4.5 million in 2017.

From the strategic point of view, Italeaf expects to optimize the financial structure of operational needs, leveraging the value created by the subsidiaries and the startups to make new investments in business with high growth rate, to reward shareholders, to ease relations with the world of credit, to accelerate the development of industrial and commercial activities related to the new technology developed by the starups or by the investee companies.

Press Release_BP15-17-2015-05-07

30Apr 2015
  • Dividend of Euro 0.08 per share will be paid next 30 June 2015
  • Stefano Neri (Chairman) and Monica Federici re-elected as board member, Nicola Romito elected as new director

 

The annual general meeting of Italeaf SpA holding company and first Italian company builder active in cleantech and smart innovation sectors, listed on on NASDAQ OMX First North,  was held on 30 April 2015 at the company’s headquarter in Narni (TR).

Resolutions

The meeting resolved in favor of all proposed matters in accordance with the proposals described in the notice to the meeting. The most important resolutions are described below.

  • A dividend of Euro 0.08 per share will be paid next 30 June 2015. The record date for payment will be 23 June 2015 (record date).
  • The meeting has approved the Annual report 2014 and the consolidated financial statements as at 31 December 2014 were adopted.
  • The Annual General Meeting resolved that three members be elected to the Board of Directors. Stefano Neri and Monica Federici were re-elected as members of the board. Nicola Romito, manager with many years of experience in the asset management sector especially in MPS Group, the third Italian Banking Group, up to hold the position of Vice General Director, was elected as a new member of the board. Stefano Neri was re-elected as chairman of the board. The Chairman expressed thanks on behalf of the outgoing Director, Cav. Ivano Emili , for his efforts over the years on the Board of Directors of the Company.
  • The Annual General Meeting resolved that the members of the Board of Directors be paid overall Euro 6,000 per year.
  • The Annual General Meeting resolved that three members be elected to the Board of Statutory Auditors. Vittorio Pellegrini and Paolo Sebastiani were re-elected as members of the board. Andrea Bellucci was elected as a new member of the Board of Statutory Auditors. Vittorio Pellegrini was re-elected as chairman of the board.
  • The Annual General Meeting resolved that the members of the Board of Statutory Auditors be paid overall Euro 10,500 per year, Euro 4,500 to the Chairman and Euro 3,000 to each member.
  • The Annual General Meeting resolved the integration of the auditor’s fees to PricewaterhouseCoopers SpA of an amount of Euro 35,000 for the years 2014 to 2016 and then for a total remuneration of Euro 50,000.

Press Release_ASMs-2015-04-30

23Apr 2015

Acquired from La Mercantile Srl the 85% of the share capital of New Gas Trade Srl

  • New Gas Trade operates across the board in the natural gas and liquefied natural gas (LNG) market, as part of an integrated strategy on energy commodities
  • Amount due of the transaction equal to Euro 150 thousand
  • The only other shareholder is Intermonte SIM Holding, a company regulated MiFID
  • Thanks to the integration with the sales network of Free Energia, active in the energy management field, the Group will achieve more than 25 thousand customers with a dual fuel offer

TerniEnergia, smart energy company active in the fields of renewable energy, energy efficiency, waste and energy management, listed on the Star segment of the Italian Stock Exchange and part of Italeaf Group, has signed an agreement with La Mercantile Srl La Spezia for the acquisition of the 85% of the share capital of New Gas Trade Srl (NGT), Italian player of the natural gas and liquefied natural gas (LNG) market, as part of an integrated strategy on energy commodities. The sales price of the shares has been agreed between the parties to Euro 150 thousand and the payment by TerniEnergia is paid in cash.

The only other shareholder of NGT is Intermonte SIM Holding, a company regulated MiFID. As part of the company, Intermonte Holding SIM offers consulting and operational activities relating to financial instruments linked to the management and trading of gas & power sector, for third parties and on their own.

Through the acquisition of NGT, TerniEnergia enters in the market of natural gas and liquefied natural gas, following the target of promoting the external growth of the Groupo through acquisitions, as presented  to the market last February 9, in the Industrial Plan “Fast on the road smart energy.

Mr Stefano Neri, Chairman and CEo of TerniEnergia, stated:

Through the acquisition of 85% of NGT, TerniEnergia wants to seize the goal of completing the offer for energy management, ensured by Free Energia, through the market access of dual fuel offer for industrial customers. This transaction enables an effective business tool for the customer loyalty (mostly cross-selling gas on the basis of customer energy) and will represent, at the same time, a development tool for new customers. In particular, TerniEnergia intends to leverage the ability to reach a customer base of over 25 thousand industrial player, including direct and indirect customers, increasing the supply of energy products and guaranteeing a real saving on the “cost component”, also thanks to the energy efficiency offer by the Group. Through the partnership with Intermonte Holding SIM, within the corporate structure, we are confident to amplify the services with high added value in the supply system. In particular, we are going to integrate the opportunities offered by our shareholder partner in the desk management dedicated to financial instruments related to the gas & power sector, corresponding with the purchase characteristics of the main segments served”.

New Gas Trade Srl operates as a wholesaler in the natural gas sector, the fossil fuel with the highest growth prospects. NGT is aimed to provide the access to the best market conditions, with a wide-ranging and taylor made approach, creating a high added value for its customers. The company offers a range of services and activities in order to develop client’s business and achieve a competitive advantage providing the best market conditions and creating a high added value. NGT has specific skills and proven track record in the energy sector, focused on the natural gas and liquefied natural gas (LNG) market.

New Gas Trade is “shipper” of Snam Rete Gas and has access to the Italian PSV (Punto di Scambio Virtuale) and has a range of different activities: import, purchase & sales, exchange and “trading” of natural gas and LNG. Our goal is to provide to the Clients the best market conditions and create a high added value. Moreover, NGT offers an integrated consultancy in order to develop Client’s business and achieve a competitive advantage. In particular, NGT assistance companies to implement LNG regasification plants and import of LNG cargoes, helping Clients with contractual support, logistics activities, and the direct access to the Italian infrastructures.

Natural gas is the most high-grown fossil fuel. Nowadays, natural gas ranks third in worldwide consumption; since the Seventies up to the date, gas consumption has tripled. Out of the all the gas consumption, 20% is utilized by industrial segment, less than 40% is required by electric power generation plants, and more than 40% is supplied to residential customers (civil use). In the Italian natural gas market the competition is getting higher and main different players are developing their business at a national and international level.

 

TerniEnergia, a company incorporated in September of 2005 and part of Italeaf Group, is the first Italian smart energy company and operates in renewable energy, energy efficiency, energy and waste management. TerniEnergia operates as system integrator, with a turn-key offer of industrial sized photovoltaic plants, on behalf of third parties and on its own, for the Power Generation business, also through joint venture companies with leading national players. TerniEnergia operates in the waste management sector, recovery of the material and energy, development and production of technologies. In particular, the Company is active in the recovery of tires out of use, in the treatment of biodegradable waste through the implementation of biodigesters, management of plant for the biological depuration; decommissioning of industrial plants, recovery of demolition metals and cleaning of industrial sites; development and production of technological apparatus. Through Free Energia, the Group is active in the energy management, energy sales to energy intensive customers, software and services for energy management, administrative, financial and credit management. TerniEnergia, through Lucos Alternative Energies, operates in the development of energy efficient plants both through EPC scheme and FTT scheme (Financing Through Third Parties), pursuing the objectives of increasing energy production from renewable sources, of energy saving and reduction of emissions as set forth by environmental European policy. TerniEnergia is listed on STAR segment of Borsa Italiana S.p.A..

Press Release_TE-2015-04-23

31Mar 2015

ITALEAF Annual Report 2014: a year with a solid growth

Trading with Italeaf shares at NASDAQ OMX First North Stockholm started on September 4, 2014.

Highlights during the second half

Net asset value amounted to Euro 36.3 million (Euro 2.34 per share) on December 31, 2014.

The most significant events in subsidiaries after the listing:

The Shareholders’ Meeting of TerniEnergia approved the capital increase with exclusion of the option rights for the purpose of the acquisition of Free Energia SpA.

The shareholders’ meeting of Skyrobotic approved a capital increase in kind of Euro 0,97 million.

TerniEnergia sold 50% of the shares of Energia Alternativa and Solter.

The Board of Directors proposed a dividend of Euro 0.08 per share, corresponding to a total amount of approximately Euro 1.2 million.

Financial information

Consolidated net profit for the year was Euro 5.5 million under in accordance with IFRS (Euro 2 million under Ita Gaap for the Italeaf parent company).

Core Investments contributed Euro 33.9 million to net asset value during 2014, of which TerniEnergia (listed) Euro 29.37 million.

Net revenues amounted to Euro 96.2 million in accordance with IFRS (Euro 3.3 million under Ita Gaap for the Italeaf parent company).

Total NFP amounted to Euro 124,7 million in accordance with IFRS (Euro 12.6 million under Ita Gaap for the Italeaf parent company); Equity was 79.1 million in accordance with IFRS (Euro 28.8 million under Ita Gaap for the Italeaf parent company)

2014 was a very positive year for Italeaf, the first italian company builder, both in terms of financial performance, overall creating value for shareholders and the progress made on the start-ups subsidiaries aimed at starting the condition for additional growth in the years to come.

Commenting on the result, Chairman Mr. Stefano Neri says:

”Italeaf was born to imagine the future and to create new industrial players that, in the manufacturing and technology industrial sectors with greater value added, have the skills and the ability to generate value with their innovative challenges. The short term cycles of business and the expansion of the areas of competition, make it useful to identify and develop new business ventures often promoted by very skilled innovators, engineers, inventors who don’t have the same experience of business and financial management. Although 2014 was a year characterized by a negative macroeconomic environment, Italeaf has made significant progress in implementing

its project through new initiatives and investments. The year closed with a profit and allows the distribution of an interesting dividend. In the next month of May, Italeaf will present in Stockholm its new triennial business plan. In our strategic planning we want to clearly state our determination to continue to strengthen the Group’s growth, with a sense of ethics, in a sustainable way and to create value for shareholders.

Vision

We turn technological start-ups into successful global companies, through a “company builder” business model.

Business concept

Italeaf selects or creates new initiatives in clean-tech and innovative industrial sectors. We offer to technological start-ups and innovative companies an integrated approach that put together services, mentoring, expertise, instruments, and facilities, everything aimed to boost the industrialization of what was just an idea. We provide initial equity and corporate assistance to launch our start-ups, making them grow up to consistent businesses generating revenue and sharing profits, reducing risk.

Objective

The investment policy of the Company is to generate returns, in the form of both capital appreciation and income to shareholders, through investing in a portfolio of businesses. While not constricted geographically, given the background and experience of management, it is expected that the majority of capital invested will be in businesses operating in Europe, with a particular focus on Italy.

Investments outside Europe will be considered where the Board believes the opportunities are particularly attractive. The Company will look to invest in businesses with underlying themes of strategic market position and strong growth.

Build the net asset value

The net asset value amounted to Euro 36.3 million at year-end 2014.

Dividend policy

Our dividend policy is to distribute a large percentage of the dividends received from the subsidiaries, as well as to make a distribution from other net assets corresponding to a yield in line with the equity market”.

10Dec 2014
  • The new share capital of Skyrobotic is now of Euro 2 million
  • Italeaf rises to 70% of the company through the contribution in kind of industrial buildings with a total area of around 1,200 square meters, which will constitute the largest Italian center for the development and industrial production of drones
  • Siralab Robotics conferred the business branch related to the design and production of the unmanned surface vessel “Trasibot”
  • Scheduled a new Extraordinary Shaareholders’ Meeting in 2014 for a further capital increase in cash of Euro 0.5 million and the transformation of Skyrobotic in SpA (joint-stock company)

 The Extraordinary Shareholders’ Meeting of Skyrobotic, active in the development, design, industrial production and marketing of unmanned aircraft systems (UAS) in small and micro classes for civil and commercial use, part of the Italeaf group, has unanimously approved today a capital increase to be subscribed in kind for a total of EUR 0.97 million.

In particular, Italeaf S.p.A. subscribed the capital increase through the contribution of industrial buildings with a total area of around 1,200 square meters, for a value of Euro 0.87 million, which will constitute the largest Italian center for the development and industrial production of drones; while Siralab Robotics has transferred its business branch related to the research, design, development, engineering and construction of the robotic ship TrasiBot Unmanned Surface Vessel (USV) for a value of Euro 0.1 million.

Following the capital increase, the share capital of Skyrobotic is Euro 2 million with the following shareholders structure: Italeaf S.p.A. 70%, Siralab Robotics S.r.l. 30%.

The transactions will allow to put Skyrobotic in an optimal condition to grow in a consistent and fast way in the promising field of industrial production of unmanned aircraft systems for civil and commercial use, and to work with a product in the technological sector of the naval drones, already prototyped and tested.

By the year 2014 will be convened a new Extraordinary Shareholders’ Meeting to approve a further capital increase in cash for an amount of Euro 0.5 million and the transformation of Skyrobotic in S.p.A. (joint-stock company).

 

Skyrobotic Srl, with a share capital of 1.03 million Euros, is the Italian company leader in the field of unmanned aerial systems (UAS). Established in December 2013, and parte of the Italeaf group, is active in the development, manufacturing and marketing of drones in mini and micro classes for the civil and commercial use in the professional market. With a constant focus on innovation, the company intends to achieve the leadership in the field of unmanned aircraft, taking care of the whole industrial chain, from design to system integration, right through to production turnkey platform robust, practical and effective in the field of remote sensing proximity. Skyrobotic combines the know-how and decades of experience in the field of Siralab Robotics, a company with high technological content, and the track record, operational experience and financial capacity of Italeaf, group leader in the fields of cleantech and innovative industry listed on the First North segment of NASDAQ OMX in Stockholm Stock Exchange.

Press Release_SKY-2014-12-10