TerniEnergia

News from TerniEnergia

24Sep 2015

Calendar Update of Corporate Events 2015: October 30, 2015 will be presented at Borsa Italiana the update of the business plan “Fast on the road smart energy”

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, announces that the progress of work of the two “giant” sites in South Africa, 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).
In particular, TerniEnergia Projects PTY Ltd, the South African subsidiary of TerniEnergia, has completed further the progress of the works on construction of Tom Burke (67 MWp) and Paleisheuwel (82.5 MWp) sites, in compliance with current industrial and economic results expected.
Pursuant to art. 2.6.2 of the Rules of Borsa Italian SpA, TerniEnergia, in addition to what is stated in the Calendar of Corporate Events 2015 released last January 26, on March 17, 2015 announce as follows:
– October 5, 2015: the Company will partecipate to the Star Conference London organized by Borsa Italian SpA;
– October 30, 2015, as part of the event: “Energy for Innovation – Renewable, gas & power, efficiency, startups, new technologies for smart industry” organized by the Italeaf group, will be presented to the financial community and to the press the Update to the TerniEnergia’s Business Plan 2015-2017 “Fast on the smart energy road”. The presentation will take place from 9.00 AM CET in Milan in the Parterre Hall of the Italian Stock Exchange, Piazza degli Affari 6.
Speakers: Stefano Neri (Chairman and CEO) and Sergio Agosta (Executive Director).
Registration is required to participate: http://www.ternienergia.com/index.php/eventi/ or event registration at the URL: http://www.eventbrite.com/e/biglietti-energy-for-innovation-18551392715.

 

Press Release_TE-2015-09-24

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

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

14May 2015
  • Revenues of Euro 68.6 million (Euro 10.4 million as at 31/03/2014)
  • EBITDA amounted to Euro 5.2 million, +13.7% (Euro 4.6 million as at 31/03/2014), with EBITDA margin at 7.6%
  • EBIT amounted to Euro 3.8 million, + 37% (Euro 2.8 million as at 31/03/2014)
  • Net profit amounted to Euro 1.2 million, +76% (Euro 0.7 million as at 31/03/2014)
  • NFP of Euro 105.6 million, Euro 14.3 million of which in short term (Euro 108 million as at 31/12/2014, Euro 18.3 million of which in short term)
  • Net equity amounted to Euro 71.9 million, +0.8% (Euro 71.3 million as at 31/03/2014)

 

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 March 31, 2015.

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

We express a positive view regarding the results achieved in the first quarter, that confirm the validity of the strategic and operational decisions of the new Business Plan. These results are in line with the new provisions, even though the construction of the two giant photovoltaic plants in South Africa started only in the second half of March and the end of which is expected in 2016”.

CONSOLIDATED RESULTS AS AT MARCH 31, 2015

Revenues amounted to Euro 68.6 million, showing a significant growth compared to March 31, 2014 (Euro 10.4 million). The increase is mainly attributable to the consolidation of the results of Free Energia, following the dedicated capital increase ended October 21, 2014. The revenues from the business lines “Cleantech” and “Energy saving” has registered a significant increase, compared to the corresponding period of 2014.

EBITDA amounted to Euro 5.2 million, with a significant increase (+ 13.7%) compared to March 31, 2014 (Euro 4.6 million). The EBITDA margin is equal to 7.6%, with a decrease compared to 03/31/2014 due to the change of the business model.

Net operating income (EBIT) amounted to Euro 3.8 million (Euro 2.8 million as at March 31, 2014, +37%), after amortization of Euro 1.3 million (Euro 1.8 million at the same period of 2013).

Net profit, which includes the share of results from the activity of photovoltaic JV, amounted to Euro 1.2 million. Net income as at March 31, 2014 was Euro 0.7 million (+76%).

The net financial position amount to Euro 105.6 million (Euro 108 million as at 31/12/2014). The non-current NFP is Euro 91.3 million, while the net financial position in short term amounted to Euro 14.3 million. The NFP/Net equity ratio equal to 1.46x, improves significantly (1.51x as at 31/12/2014) in line with the expectations of the industrial plan.

The Net Equity amounted to Euro 71.9 million, with an increase of 0.8% (Euro 71.3 million at 31/12/2014), while the Fixed assets amounted to Euro 149.6 million, of which Euro 91.1 million referring to tangible assets.

INDUSTRIAL RESULTS AS AT MARCH 31, 2015

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 10 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 335 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 1.1 million kWh.

SIGNIFICANT EVENTS OCCURRED AFTER THE END OF FINANCIAL YEAR

TerniEnergia enters in the gas sector e grows in the dual fuel market

On April 23, 2015 TerniEnergia 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.

Shareholders’ meeting approves 2014 financial Statements and a distribution of dividends equal to Euro 0.065 per share

On April 24, 2015, the Ordinary Shareholders’ Meeting of TerniEnergia has reviewed and approved unanimously the consolidated financial statements as at December 31, 2014. The Shareholders’ Meeting also approved the distribution of a dividend equal to Euro 0.065 per ordinary share gross with-holdings set forth by law. The dividend will be paid on May 20, 2015, and the relevant coupon No. 6 shall be separated on May 18, 2015.

BUSINESS OUTLOOK

TerniEnergia is fully developing its strategy for the year 2015, contained in the industrial plan “Fast on the smart energy road”. In particular, in the coming months it is expected to make a substantial contribution from contracts in photovoltaics already acquired and being acquired abroad, also due to the start of its construction sites. Free Energia is pursuing an expansion in energy management business in Italy, through an increased penetration of the private market, and in particular of the segments SMEs and energy-intensive companies. The Group intends to seize the significant “cross-selling” business opportunities in the areas of energy efficiency (fast-growing) and energy sale, thanks to the maximization of benefits guaranteed by the possibility to optimize the financial structure to operational requirements, putting to leverage the energy produced to reduce the weight of the acquired on the market for energy management activities, increasing the possibility of issuing corporate guarantees and facilitating relationships with the world of credit, thanks to the recovery of business with high revenue generation in Italy.

In addition, TerniEnergia has started a strategy of external growth, monitoring the evolution of the scenario of the Italian and international energy sector in order to identify the most attractive opportunities. In the coming months, 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. The Company has provided significant investments dedicated to activities of ESCO with the formula of third party financing (TPF).

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. TerniEnergia finally continued his 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, completing a new facility 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 cubic meters/year) in a market segment experiencing a high technological activity with high growth prospects.

The Officer appointed for the preparation of accounting and corporate documents, Dott. Paolo Allegretti, states, pursuant to paragraph 2 of art. 154-bis of the consolidated Financial Act, that the accounting information that is contained in this press release corresponds to the results contained in the documents, books, and accounting records.

Press Release_TE-2015-05-14(1Q)

24Apr 2015

ITALEAF: The Shareholders’ meeting of TerniEnergia approved the 2014 Financial Statements and a distribution of dividends equal to Euro 0.065 per share

  • Approved the consolidated financial statements as at December 31, 2014 and a net profit for the year amounted to € 6.2 million
  • Approved the first section of the remuneration report pursuant to art. 123-ter of TUF
  • Approved the remuneration and incentives policies for 2015
  • Published Financial Statements 2014, which was approved

 

The ordinary Shareholders’ meeting 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, met today under the chairmanship of Stefano Neri and approved unanimously the draft financial statements and noted the presentation of the consolidated financial statements as at December 31, 2014.

RESULTS OF THE GROUP TERNIENERGIA

Consolidated Net Revenues amounted to EUR 95.2 million, showing a growth of 42% compared to December 31, 2013 (Euro 67 million). The increase is mainly attributable to the consolidation of the results of Free Energia, following the dedicated capital increase ended October 21, 2014. Also the revenues from the management of photovoltaic systems (Photovoltaic Power Generation), as a result of the consolidation of facilities previously held in the JV, and from the business line “Cleantech” has registered a significant increase, compared to the corresponding period of 2013.

EBITDA amounted to Euro 18 million, with a significant increase (+ 45%) compared to December 31, 2013 (Euro 12.4 million). The EBITDA margin is equal to 18.91%, with an increase compared to 2013 (18.5%).

Net operating income (EBIT) amounted to Euro 8.4 million (Euro 5 million at December 31, 2013), after depreciation, amortization and impairment losses of Euro 9.6 million (Euro 7.4 million in 2013).

Net profit, which includes the share of results from the activity of photovoltaic JV, amounted to Euro 6.2 million, also benefiting from a tax income resulting from the so-called “Tremonti Ambientale” to certain subsidiaries that hold PV plants. Net income as at December 31, 2013 was Euro 6.8 million (-9%).

The net financial position amount to Euro 108 million (Euro 135.2 million at 31/12/2013). The non-current NFP is Euro 89.8 million, while the net financial position in short term amounted to Euro 18.3 million. The NFP as at September 30, 2014 was Euro 155.6 million. The reduction of about a third of the NFP has been possible thanks to the sale of 50% of the equity shares in Alternative Energy and Solter, owners of PV plants of industrial size. The NFP/Net equity ratio (Gearing ratio 151%), equal to 1.51x, improves significantly (2.51x as at 31/12/2013) in line with the expectations of the industrial plan.

The Net Equity amounted to Euro 71.3 million, with an increase of 32.4% (Euro 53.8 million at 31/12/20113), while the Fixed assets amounted to Euro 150.4 million, of which Euro 91.6 million referring to tangible assets.

TERNIENERGIA S.P.A.’ RESULTS AS AT DICEMBER 31, 2014

Net revenues amounted to Euro 17.7 million (Euro 35.6 million as at 31/12/2013). The gross operating margin (EBITDA) amounted to Euro 5.7 million (Euro 2.8 million as at 31/12/2013). The net result amounted to Euro 1.7 million (Euro 1.9 million as at 31/12/2013).

DIVIDEND

Shareholders’ meeting also approved the distribution of a dividend equal to Euro 0.065 per ordinary share gross with-holdings set forth by law. The dividend will be paid on May 20, 2015, and the relevant coupon No. 6 shall be separated on May 18, 2015.

REMUNERATION AND INCENTIVE POLICIES

The Meeting approved to increase the total amount of the remuneration of the Board, also including the remuneration of directors holding particular positions, pursuant to Art. 2389, paragraph 3, of the Civil Code, up to a maximum annual amount of Euro 550thousand, plus costs and contributions to the law, for the remaining period of office of the board. The shareholders finally approved the three-year variable remuneration plan for executive directors and managers with strategic responsibilities in case of exceeding 5% of the consolidated EBITDA identified in the business plan for the period 2015-2017 approved by the Board of Directors on February 9, 2015

REMUNERATION REPORT EX ART. 123-TER D. DECREE 58/98

The Shareholders’ meeting approved the Remuneration Report of Directors and Managing Directors with strategic responsibility provided by art. 123-ter of D. Decree 58/98

PUBLISHED 2014 FINANCIAL STATEMENTS FINALLY APPROVED

TerniEnergia announces that it is published on the website www.ternienergia.com in the Investor Relations section (Documents / Financial results) the 2014 financial statements finally approved.

The Officer responsible for the preparation of accounting an corporate documents, Dott. Paolo Allegretti, declares, pursuant to paragraph 2, art. 154-bis of the Consolidated Financial Act, that the accounting information that is contained in this press release correspond to the documentary results, the accounting books and records.

Press Release_TE-2015-04-24

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

24Mar 2015

ITALEAF:  TerniEnergia continues to increase the value from its photovoltaic assets

  • Sold 50% of the shares of the SPV DT Srl, that owns a PV plant of 1 MWp capacity
  • The transaction counter value for the 50% of the shares amount to Euro 0.5 million to be paid in cash by AEGA ENERGY PRIMA AS

 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, as part of its strategy to increase the value of its photovoltaic assets, has signed agreements for the sale to AEGA ENERGY PRIMA AS (a Norwegian fund) of 50% of the share capital of DT Srl, owner of a utility scale PV plant for an installed capacity of around 1 MWp capacity.

The total price of the sale has been agreed between the parties to Euro 0.5 million for the 50% of the share capital, paid by AEGA ENERGY PRIMA AS in cash.

 

16Mar 2015

Net Profit amounted to Euro 6.2 million, proposed dividend of Euro 0.065 p.s.

  • Revenues of Euro 95.2 million, +42% (Euro 67 million as at 31/12/2013)
  • EBITDA mounted to Euro 18 million, + 45% (€ 12.4 million as at 31/12/2013) with EBITDA margin at 18.93% (18.5% as at 31/12/2013)
  • EBIT amounted to Euro 8.4 million, + 68% (Euro 5 million as at 31/12/2013)
  • Net profit amounted to Euro 6.2 million, -9% (Euro 6.8 million as at 31/12/2013)
  • NFP of Euro 108 million, Euro 20.3 million of which in short term (Euro 155.6 million as at 30/09/2014, Euro 16.8 million of which in short term)
  • Net equity amounted to Euro 71.5 million, +33% (Euro 53.8 million as at 31/12/2013)
  • Proposed a dividend increased than the one paid in the last two years

 

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 draft financial statements and the consolidated financial statements as at December 31, 2014.

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

Despite the attention of TerniEnergia is now completely on to the implementation of the new business plan, the approval of the 2014 financial statement is the last act of the period of uncertainty related to the crisis of the photovoltaic sector in Italy. The company has shown remarkable ability to adapt to new conditions and handled with positive results the transition to the new business model. The start of the construction sites of two “giant” photovoltaic plants in South Africa, the visibility of energy management activities and the performance in the first months of full operation of the new organization, reflect results in line with the expectations of the new plan “Fast on the smart energy road”. This positive performance justifies a dividend of Euro 0.065 per share, with a return for shareholders higher than the one of the last two years”.

 

CONSOLIDATED RESULTS AS AT DECEMBER 31ST, 2014

Revenues amounted to EUR 95.2 million, showing a growth of 42% compared to December 31, 2013 (Euro 67 million). The increase is mainly attributable to the consolidation of the results of Free Energia, following the dedicated capital increase ended October 21, 2014. Also the revenues from the management of photovoltaic systems (Photovoltaic Power Generation), as a result of the consolidation of facilities previously held in the JV, and from the business line “Cleantech” has registered a significant increase, compared to the corresponding period of 2013.

EBITDA amounted to Euro 18 million, with a significant increase (+ 45%) compared to December 31, 2013 (Euro 12.4 million). The EBITDA margin is equal to 18.93%, with an increase compared to 2013 (18.5%).

Net operating income (EBIT) amounted to Euro 8.4 million (Euro 5 million at December 31, 2013), after depreciation, amortization and impairment losses of Euro 9.6 million (Euro 7.4 million in 2013).

Net profit, which includes the share of results from the activity of photovoltaic JV, amounted to Euro 6.2 million, also benefiting from a tax income resulting from the so-called “Tremonti Ambientale” to certain subsidiaries that hold PV plants. Net income as at December 31, 2013 was Euro 6.8 million (-9%).

The net financial position amount to Euro 108 million (Euro 135.2 million at 31/12/2013). The non-current NFP is Euro 87.7 million, while the net financial position in short term amounted to Euro 20.3 million. The NFP as at September 30, 2014 was Euro 155.6 million. The reduction of about a third of the NFP has been possible thanks to the sale of 50% of the equity shares in Alternative Energy and Solter, owners of PV plants of industrial size. The NFP/Net equity ratio (Gearing ratio 151%), equal to 1.51x, improves significantly (2.51x as at 31/12/2013) in line with the expectations of the industrial plan.

The Net Equity amounted to Euro 71.5 million, with an increase of 33% (Euro 53.8 million at 31/12/20113), while the Fixed assets amounted to Euro 150.5 million, of which Euro 91.9 million referring to tangible assets.

The Board of Directors approved the proposal to the Shareholders’ Meeting about the distribution of a gross dividend of Euro 0.065 per share, corresponding to a payout ratio of 46.2% on consolidated net profit. The dividend will be paid on May, 18, 2015, and the relevant coupon No. 6 shall be separated on May, 20, 2015.

 

INDUSTRIAL RESULTS AS AT DECEMBER 31, 2014

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 23,3 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 56 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 800 GWh of energy for energy-intensive customers, of which 220 GWh in the fourth quarter. The industrial results of Free Energia SpA are considered in the consolidated TerniEnergia results from 20/10/2014, the effective date of acquisition.

 

TERNIENERGIA SPA’ RESULTS AS AT DICEMBER 31, 2014

Net revenues amounted to Euro 17.7 million (Euro 35.6 million as at 31/12/2013). The gross operating margin (EBITDA) amounted to Euro 5.7 million (Euro 2.8 million as at 31/12/2013). The net result amounted to Euro 1.7 million (Euro 1.9 million as at 31/12/2013).

 

SIGNIFICANT EVENTS OCCURRED AFTER THE END OF FINANCIAL YEAR

The Board approves the Group’s business plan 2015-2017 “Fast on the smart energy road”

February 9, 2015 – The Board of Directors of TerniEnergia approved the business plan 2015/17 “Fast on the smart energy road ” and updated the 2014 forecast of the Group. Proposed the introduction of the vote increased to enhance growth through acquisitions and strengthening the implementation of the program to purchase treasury shares. The plan provided for: new organizational structure, completion of the merger of Lucos in TerniEnergia, diversification of the generation of revenue and EBITDA resulting in risk reduction, integration of activities to complete the energy value chain. The plan also provide possible M&A in the Gas&Power, even abroad, and in the field of “smart technologies”. Investments 2015-17: Euro 54 million for high-margin business of ESCO and realization of environmental systems. Revenue in the three years: over Euro 1.2 billion (+ 48% CAGR 2015-17).

 

Authorized the liquid waste treatment plant in Nera Montoro (TR)

March 3, 2015 – With Executive determination of the Provincia di Terni n. 11458/2015 has been granted ‘”Integrated Environmental Authorisation (AIA)” on the “Operational plan for cleaning up groundwater industrial site in Nera Montoro (TR) – adjustments to the requirements and implementation systems present with the introduction of new sections of waste treatment liquids for third parties”. Authorized the treatment of 58,000 cubic meters/year of waste input, represented by Liquid waste from pumpable sludge, planned investment of Euro 3 million for the construction of the new plant.

 

The Board of Directors of the subsidiary Free Energia approves the draft financial statements as at December 31, 2014. The CEO Stefano Neri awarded in Hong Kong for the sustainability and smart energy

March 12, 2015 – The Board of Directors of the subsidiary Free Energia approved the draft financial statements at 31 December 2014, with revenue of 199.4 million, EBITDA of Euro 4.4 million and net profit of Euro 2.1 million. TerniEnergia also received at the Conrad Hotel in Hong Kong the prestigious “Iair Awards Excellence in Global Economy & Sustainability” as best European industrial companies for sustainability and smart energy.

 

Opened the sites for the construction of two PV plants in the Republic of South Africa for a total installed capacity of 148.5 MWp

March 12, 2015 – TerniEnergia has opened the construction sites to install 2 giant PV plants in South Africa for the total capaacitty of 148.5 MWp on behalf of a leading Italian utility, with the formula “EPC Contract” (turnkey) with supply of panels and inverters, respectively at Paleisheuwel locations for a capaacity of 82.5 MWp and at Tom Burke for 66 MWp of installed power, for a total consideration of approximately Euro 147 million.

 

BUSINESS OUTLOOK

TerniEnergia confirms its development strategy for the year 2015, contained in the industrial plan “Fast on the smart energy road” by focusing on a few strategic lines:

– Backlog of orders in photovoltaics already acquired and currently being acquired abroad, and starting of the construction sites;

– Increase of the energy management business in Italy, thanks to the expansion of the customers of Free Energia, most of which are recurring and loyal, in SME and energy consuption segment;

– Development of relevant business opportunities “cross-selling” in the areas of energy efficiency (fast-growing) and the sale of energy;

– Strong business diversification of TerniEnergia in ant-cyclical sectors and completion of the “core” of the group along the entire energy value chain, from design works up to post-sale advanced services.

Moreover, in line with the strategic objectives already declared at the presentation of the Industrial Plan, TerniEnergia observes carefully the scenario evolution of the Italian and international energy sector, in order to identify the most attractive opportunities for external growth.

In particular, TerniEnergia has been started scouting projects and initiatives in the following areas:

– identification of potential M&A operations to promote growth through acquisitions in the Gas & Power, also internationally;

– 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;

– entry into the field of development and industrial production of smart solutions and technologies for energy efficiency and cleantech.

Remains unchanged the commitment of TerniEnergia to create value for the shareholders through an organizational development required by the constant growth of operational activities, improving the efficiency of the process, optimizing the financial structure to operational needs, leveraging the electric power produced to reduce the weight of the energy acquired on the market for energy management activities, increasing the possibility of issuing corporate guarantees, facilitating relations with the credit, thanks to the recovery of business with high revenue generation in Italy.

TerniEnergia also intends to continue its policy of enhancement of PV assets, thereby reducing the NFP, taking advantage of the best market opportunities. The Company has provided substantial investments dedicated to ESCO activities with the Third Party Financing (TPF) formula.

The Company will also continue the process of strengthening the scope of the environmental asset, completing a new facility 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 cubic meters/year) in a market segment experiencing a high technological activity with high growth prospects.

 

FURTHER RESOLUTIONS OF THE BOARD OF DIRECTORS

The Board of Directors has reviewed and approved the Report on corporate governance and ownership structure for the year 2014, the Report of the Audit and Risk Committee and approved the Report on the remuneration of Directors and key management with strategic responsibilities pursuant to Article. 123-ter of Legislative Decree 58/98, which will be subject to approval by the Shareholders’ Meeting.

The Board of Directors finally called the ordinary Shareholder’ Meeting on April, 23, 2015, in first call, and on April, 24, 2015, in second call, to resolve on the approval of the financial statements as at 31/12/2014.

The documentation related to items on the agenda of the Shareholders’ Meeting shall be made available to the public at the time and in the manner provided by law.

 

The Officer appointed for the preparation of accounting and corporate documents, Dott. Paolo Allegretti, states, pursuant to paragraph 2 of art. 154-bis of the consolidated Financial Act, that the accounting information that is contained in this press release corresponds to the results contained in the documents, books, and accounting records.

 

16Mar 2015

The Shareholders’ Meeting 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, met today in Extraordinary session chaired by Stefano Neri.

The shareholder’s meeting has approved – with 63.01 of the share capital attending the meeting and the favorable vote of 99.95% of the attending shareholders – the amendments to the By-laws (art. 6), aimed at introducing increased voting rights.

The introduction of the increased voting rights is aimed at encouraging investments in the medium-long term and therefore the stability of the shareholders, in accordance with the recently introduced option provided in Art. 127-quinquies of T.U.F. and in Article 20 of Law 91 dated June 24th, 2014 (the “Competitiveness Decree”).  In particular, the new regulation contained in the By-laws provides for the assignment of two votes for each ordinary share held by the same shareholder for an ongoing period of no less than two years from the date of entry in a specific List created and kept by the Company. The procedures regarding application for entry in the aforementioned List and any other information regarding increased voting rights pursuant to Section 127-quinquies of D.Lgs. 58/1998, will be consultable on the Company’s website.

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

TerniEnergia, as illustrated to the financial and industrial community at the presentation of the three-year plan “Fast on the road smart energy”, wants to strengthen its growth opportunities through extraordinary transactions, as merger and acquisitions. The introduction of so-called “loyalty shares” in the By-laws, in addition to reward shareholders more faithful, offers a new opportunity to finance the development of the Company, while enabling us to create value for shareholders”.

 

12Mar 2015
  • The subsidiary TerniEnergia Projects PTY Ltd started the EPC, with supply of panels and inverters and the O&M, activities for an amount of approximately Euro 147 million

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, as part of the process of internationalization of photovoltaic EPC business, announces the start of works for  the construction of two utility scale photovoltaic plants in South Africa for the total capacity of 148.5 MWp on behalf of a leading Italian utility.

In particular, the start of work follows the final contracts for EPC (engineering, procurement and construction) and O&M (operation and maintenance) activities, as communicated to the market on July 31, 2014, and concern the installation by TerniEnergia Projects PTY Ltd, a South African subsidiary of TerniEnergia, of two photovoltaic plants with “EPC Contract” (turnkey) with the supply of panels and inverters, respectively, in  Paleisheuwel, for an installed capacity of 82.5 MW, and in Tom Burke, for 66 MW, for a total amount of approximately Euro 147 million.

 

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..