July 31, 2015
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- 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.
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..