NAV of Euro 6.2 million. Ebitda equal to 147 thousand Euro. Net result equal to -316 thousand Euro

  • Revenues amount to Euro 1.1 million (Euro 11.8 million in the consolidated financial statements)
  • EBITDA of Euro 147 thousand (Euro 0.2 million in the consolidated financial statements)
  • EBIT is equal to 106 thousand Euro (-3 million Euro in the consolidated financial statements).
  • EBT amounted to Euro -316 thousand (Euro -4.8 million in the consolidated financial statements).
  • Net result of Euro -316 thousand (Euro -3.7 million in the consolidated financial statements)
  • Shareholders’ equity of Euro 13 million (Euro -1.5 million in the consolidated financial statements)
  • NFP of Euro 18.2 million (Euro 84.8 million in the consolidated financial statements)
  • NAV of approximately Euro 6.2 million; NAV per share Euro 0.36
  • Update of the financial events agenda

 

The board of directors of Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, approved today the half-yearly financial report as at 30 June 2019.

 

Financial highlights*

 

As at

30 June 2019

As at

30 June 2018

Change %

In Euro

Revenues

1,151,904

1,447,528

(20.4)%

EBITDA

147,385

529,616

(72.2)%

EBIT

106,484

246,145

(56.7)%

EBT

(316,726)

(147,269)

51.4%

Net result 

(316,726)

(147,269)

    115.1%

 

 

As at

31 december 2018

 

Shareholders’ Equity

13,037,531

13,354,259

n.a.

Net financial position

18,178,383

17,776,227

n.a.

* Half-Yearly Financial Report prepared in accordance with ITALIAN GAAP accounting principles

 

Italeaf’s NAV was Euro 6.2 million as at 30 June 2019 (Euro 5.5 million as at 31 December 2018); Nav per share Euro 0.36.

 

Postponement of approval of the 2019 financial report

The Board of Directors of Italeaf has therefore decided to postpone the approval of the separate financial report and consolidated financial statements at December 31, 2019 until a later date to be defined and in any case by 31 May 2020.

The reasons for this postponement are mainly based on the following considerations:

  • on 29 January 2020 the Board of Directors of the subsidiary algoWatt S.p.A. (formerly TerniEnergia), the main asset of the holding company, resolved to approve the draft financial statements and the consolidated financial statements at December 31, 2019 in a period between April 21 and 24, 2020;
  • in light of the worsening of the epidemiological emergency from COVID-19, the national public authorities have postponed the shareholders’ meetings for the approval of the financial statements to June 30, 2020 for the companies that wish to benefit from it and the Board of Directors deemed it appropriate to make use of this postponement, also in view of the preparation of the consolidated financial statements and the ongoing restructuring process.

The full version of the Half-Yearly Financial Report as at 30/06/2019 in English is published on the Company’s website www.italeaf.com and published on GlobeNewswire Intrado | Release Publishing.

04Aug 2014
  • The entrance of Free Energia in the TerniEnergia Group will integrate downstream the energy value chain, inserting the new business of trading and innovative energy services
  • Planned the development of the new activities of vegetable oil trading and management of vegetable oil burning power plants
  • The acquisition transaction shall be performed through a share capital increase to be resolved by TerniEnergia, to be addressed exclusively to Free Energia’s shareholders and to be subscribed through contribution in kind of Free Energia shares
  • A number of shares representing 15% of TerniEnergia share capital after the relevant increase shall be assigned to Free Energia shareholders, in case of contribution of shares representing 100% of Free Energia shares. No payment by cash is contemplated by the investment agreement  
  • The transaction is subject to several conditions precedent
  • The agreement followed by a final review of the Business Plan of TerniEnergia

[nggallery id=31]

TerniEnergia SpA, a company active in the fields of renewable energy, energy efficiency and waste management, listed on the Star segment of Borsa Italiana, and Italeaf, the first Italian company builder and holding company, majority shareholder of TerniEnergia, signed an investment agreement for the acquisition of 100% of the share capital of Free Energia S.p.A. with the representative shareholders of the Company[1] who acted also on behalf of some remaining shareholders of Free Energia.

The Chairman and CEO of TerniEnergia, Mr Stefano Neri, said:

“The acquisition of Free Energia is a strategic objective for TerniEnergia, which is integrating downstream the energy value chain. In particular, TerniEnergia is adding to its core activities (renewable power generation, guaranteed by the fully-owned photovoltaic assets, and industrial scale energy efficiency, through the subsidiary Lucos Alternative Energies) the new business of electricity trading for energy-intensive customers and consolidated re-sellers and of smart energy services, in a fast growing phase and with significant growth opportunities, due to the possibility of integration between the electric utility industry and the digital one. This transaction creates one of the most important Italian independent groups, active in the integrated business of renewable energy, energy efficiency and waste management. The acquisition also meets several strategic targets of TerniEnergia, as the significant increase and diversification of the Group’s revenues, the enlargement of the scope of core activities, with the integration in the value chain of technological innovative services, the enrichment of the portfolio with a valuable brand, which grew more than the market average in a very competitive cathegory and, finally, the opportunity to develop strong cross-selling business opportunities in the fields of energy efficiency and energy sales. Finally, TerniEnergia is entering into the promising market of the management and sale of services to vegetable oil burning power plants, where Free Energia aims to achieve the national leadership”.

The Chairman and CEO of Free Energia, Mr Umberto Paparelli, stated:

“As a result of the respective due diligence activities, we met all the requirements, forming the assumptions of the transaction, related to the development opportunities of Free Energia. Being part of TerniEnergia Group, is for Free Energia a great opportunity to increase the value, in terms of financial and operational, of our activity and to bring our services to an higher level in existing markets and expand in emerging markets. It is quite clear, in fact, the opportunity to create a global and evolved platform to maximize the economic returns associated with the integrated activities of production, management and sale of energy, thanks to the actual strong expansion of commercial network dedicated to the energy saving services. Free Energia will be able to use all the financial and operational synergies to plan a growth strategy focused on developing business highly complementary to those of TerniEnergia“.

Free Energy, a company that in 2013 had revenues for Euro 100 million, and that in the first half of 2014 recorded a turnover of € 85 million, with an EBITDA of 3.5 million, operates as an innovative energy trader, with 1.3 TWh of electricity delivered to energy-intensive customers and/or consolidated re-sellers.

Notably, through its subsidiaries Feed and Enersoft, Free Energy is active in trading, brokerage and management of electricity and gas; in the design, construction and installation of industrial plants and provision of related services and maintenance; in the services dedicated to producers of energy from renewable sources, to optimize the profitability conditions of the plants, including through the sale of vegetable and sustainable oil; in the consultancy field of pricing strategies, recovery and energy savings; in the in-house designing, implementation and management of services and remote control systems and in the development of innovative software for the energy sector.

Free Energia offers a variety of value-added integrated services for companies producing renewable energy, which normally move only on the power generation. The management system is based on an integrated package of services conveyed through a platform in-house built. Organized in a simple and flexible way, Free Energia is able to seize the opportunities of a market characterized by rapid and complex changes, succeeding to meet the energy needs of its customers.

The structure of the transaction will consist of a capital increase of TerniEnergia, reserved to shareholders of Free Energia  to be subscribed through the contribution of  Free Energia shares. There is no cash outlay.

The transaction closing is subject to certain conditions precedent including the positive pronouncement of certain entities including banks and bondholders of the Companies; the authorization by Consob to publish the prospectus for the TerniEnergia Shares to be issued against the capital increase; the approval by the TerniEnergia extraordinary Shareholders Meeting of the Capital Increase to be subscribed by contribution of shares. All the conditions precedent have to occur by no later than December 31st, 2014.

As a result of the signing of the investment agreement, TerniEnergia is going to prepare a new consolidated business plan that takes into account the integration of Free Energia activities with those of TerniEnergia and its group of subsidiaries.

TerniEnergia is assisted by Power Capital, as financial advisor in the transaction.

Francesca Ricci, of the law firm Predieri Ricci, and Federica Pomero, Daria Pastore and Antonella Calogiuri, of the law firm Legance, assisted respectively TerniEnergia and Free Energia and its reference shareholders as legal advisors.

[1] Umberto Paparelli, Pierluigi Cernieri e Salvatore Pelleriti

TE-COS_FREEEN-04-08-2014(EN)

07Aug 2014
  • Revenues of 21.5 million (Euro 31.7 million as at June 30, 2013)
  • EBITDA of Euro 9.8 million, +72% (Euro 5.7 million as at June 30, 2013)
  • Ebitda Margin 45.5% (18% as at June 30, 2013)
  • EBIT of Euro 6 million, +99% (Euro 3 million as at June 30, 2013)
  • Net Profit of Euro 1.2 million (Euro 5.4 million as at June 30, 2013)
  • NFP of Euro 152.8 million, Euro 11.6 million of which in short time (Euro 135.2 million as at 31/12/2013, Euro 18.2 million of which in short time)
  • Net Equity amounted to Euro 50.4 million (53.9 million as at 31/12/2013)
  • Following the signing of the investment agreement for the acquisition of Free Energia and the change of the reference scenario, the Board of Directors considers outdated the industrial plan “Discover the new green era” and gives the green light to the strategic review
  • Confirmed the aim of a significantly reduction of the NFP within the year, through the placement of some photovoltaic assets, mainteining the industrial management

 

The Board of Directors of TerniEnergia, a company active in the renewable energy fields, energy efficiency listed on Star Segment of Borsa Italiana, approved today the interim financial report as at June 30, 2014.

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

“The first half results show an increase in EBITDA and margins due to increased revenues from power generation and positive contribution of the environmental sector, against of a drop in revenues due to the transition phase related to the development of photovoltaic EPC activities in South Africa. Following the forthcoming revision of the national incentive system for PV plants, planned by the Italian Government, being converted into law by the parliamentary institutions, the company assumed the determination to consider ended the placement of the closed investment fund “RA – Renewable Assets”. Within the year, however, TerniEnergia intends to occur a range of opportunities to enhance the value of some photovoltaic assets. This prospective transaction can allow a consequent significant reduction in the NFP. The signing of the investment agreement for the acquisition of Free Energia, in the case of success of the transaction, will also entail a strategic realignment of the Group. This will produce a significant increase and diversification of revenues, the expansion of the scope of core activities, with entry into the new business of electricity trading and the management and sale of services to the central vegetable oil, the integration in the value chain of innovative services with high technological content, the development of strong business opportunities of cross-selling in the areas of energy efficiency and energy trading. Because of this changing scenario, TerniEnergia considers updated the business plan 2014-2016 “Discover the new green era” and intends to launch a comprehensive strategic review and an update of its objectives and quality targets, through the presentation of a new consolidated business plan, after the acquisition of Free Energia, highlighting the visibility of growth in the medium term and ensuring the creation of value for shareholders”.

Consolidated results as at June 30, 2014

The Net revenues amounted to Euro 21.5 million (Euro 31.7 million as at June 30, 2013) with a decrease in prevalence attributable to the drop of the revenues from photovoltaic EPC. The contribution of the environmental sector and the power generation activity, characterized by high margins and a long-term visibility, is equal to approximately 54% of total revenues in growth compared to the same period of 2013 (24% ).

The EBITDA amounted to Euro 9.8 million (+72%) compared to Euro 5.7 Million recorded as at June 30, 2013. The EBITDA Margin was 45.5%, with a significant increase compared to the same period of 2013 (18%)

Net operating income (EBIT) amounted to Euro 6 million (Euro 3 million as at June 30, 2013), an increase of 99%, after amortization, depreciation and provisions amounted to Euro 3.7 million (Euro 2.7 million as at 30 June 2013).

Net income amounted to Euro 1.2 million and includes the share of profit generated from the activity of JV. Net income as at June 30, 2013 was Euro 5.3 million, result that benefited of income from extraordinary transactions resulting from the consolidation of the companies previously held in JV.

The Net Financial Position amounted to Euro 152.8 million (Euro 135.2 million at 31/12/2013). The non-current net financial position is Euro 141.2 million, and includes the the bond issue carried out in February 2014. The short-term NFP is Euro 11.6 million. The NFP at 31/12/2013 amounted to Euro 135.2 million.

The net equity amounted to Euro 50.4 million (Euro 53.9 million at 31/12/2013), while the Fixed Assets amounted to Euro 178.6 million, of which € 159.7 million related to tangible fixed assets. The short-term NFP/net equity ratio, equal to 0.23x improves appreciably and constantly, consolidated in full security area.

Industrial results as at June 30, 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 (33.3 MWp in full ownership and 5.8 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 about 24 million kWh. For the full year 2014 it is estimated that the PV assets owned by the Company will ensure a production of over 60 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).

SIGNIFICANT EVENTS OCCURRED AFTER THE END OF THE PERIOD

July 2, 2014: TerniEnergia has exercised the call option on the 30% of Lucos Alternative Energies, granted by the shareholders by the agreements entered into on August 10, 2011, completing the acquisition of the 100% sharecapital of the ESCO UNI CEI 11352 certified company. The price for the transaction is equal to Euro 1.952 million and the payment was entirely financed by cash.

July 9, 2014: TerniEnergia won a national tender organized by Ecopneus scpa, the no-profit company for the tracking, collection, treatment and final destination of End of Life Tires (ELT) created by the major tire manufacturers operating in Italy, for the ”granulation/crushing activities of ELTs (ERC 160 103) for the period 2015-2017”. TerniEnergia can receive in Nera Montoro (TR) plant up to a total of 15,000 tons of PFU delivered only by Ecopneus for a three-year aggregate revenues of Euro 4.1 million.

July 10, 2014: TerniEnergia is the award winner of “Company to watch 2013”. The recognition is awarded every year by Databank (a Group Cerved division specialized in consulting services and marketing solutions) to the companies that have distinguished themselves in a deepened selection process, the result of both quantitative and qualitative analysis. TerniEnergia has been acknowledged as the company more virtuous and best-performing in 2013 in the field of panels and solar systems.

July 31, 2014: TerniEnergia has signed two definitive agreements for the EPC (engineering, procurement and construiction) and O&M (operation and maintenance) activities with a primary European utility for the construction in South Africa of two industrial size PV plants for the total power capacity of 148.5 MWp. In particular, the contracts following the framework agreements communicated to the market on October 31, 2013, and concerned 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 consideration of approximately ZAR 2 billion, corresponding to the current exchange rate to approximately Euro 147 million. The effectiveness of the two contracts is subject to the signing of the financial closing between the final customer company and the South African Government (Department of Energy).

August 4, 2014: TerniEnergia, and Italeaf, majority shareholder of TerniEnergia, signed an investment agreement for the acquisition of 100% of the share capital of Free Energia S.p.A. with the representative shareholders of the Company, Umberto Paparelli, Pierluigi Cernieri and Salvatore Pelleriti, who acted also on behalf of some remaining shareholders of Free Energia S.p.A. Free Energia, a company that in 2013 had revenues for Euro 100 million, and that in the first half of 2014 recorded a turnover of € 85 million, with an EBITDA of 3.5 million, operates as an innovative energy trader, with 1.3 TWh of electricity delivered to energy-intensive customers and/or consolidated re-sellers. The structure of the transaction will consist of a capital increase of TerniEnergia, reserved to shareholders of Free Energia  to be subscribed through the contribution of  Free Energia shares. There is no cash outlay.

BUSINESS OUTLOOK

The current market situation is characterized by strong global growth of investments in the photovoltaic and the environmental industry, but there are critical issues arising from the forthcoming revision of the Italian legal system and incentives for renewable energy sources,, the quota restrictions on access to capital, the growth of the size of the plants and the consequent need for a careful and prospective view of financial management of projects.

Because of this changing market, TerniEnergia has diversified its sources of access to capital through the bond issue, has revised its business model from which derives stability of cash flow and growth opportunities resulting from replicability, has diversified the risk country and the counterparty in B2B.

At the same time, precisely because of the rumors of the development of legal and regulatory framework and the start of the parliamentary conversion of the so-called “Tagliabollette” decree, the Company has prudently suspended the transfer of assets to the closed real estate investment fund “RA – Renewable assets”, increasing its ownership of PV plants and maintaining a bouquet assets with very high margins, to be exploited in the case of future opportunities, resulting in a reduction of the NFP.

TerniEnergia confirms, therefore, for the future, a strategy that combines the size of the business, growth and development policy of relations with capital markets and debt.

As a result, the Company expects the following lines of development :

  • International Development – In the period 2014/2015 is planned the construction of the projects in portfolio in South Africa for an amount of approximately Euro 147 million. The time schedule of the sites previously announced, which included the opening by the end of August 2014, be postponed for a few months. The date of start will be determined by the South African authorities. The company has also been identified as EPC contractor by a leading utility for a further two potential contracts relating to the so-called IV BID by the South African government that includes the construction of 8 photovoltaic plants with a total capacity of over 500 MWp.

In the short term there are plans to set up a company in partnership with Al Hamed Group, called TerniEnergia Gulf LLC, based in Abu Dhabi, active in the fields of power generation, waste to energy and waste management. By 2014 it is expected to open early sites and the start of construction of a plant for the end of life tires

  • Italian Development – Strengthening in the growing sectors of smart energy and energy efficiency. In particular, in the case of a successful completion of the acquisition of Free Energia, it will allows the downstream integration of the value energy chain, adding to the activities of power generation and energy efficiency of industrial scale, even new business of electricity trading, smart energy services, in a phase of high growth and significant development opportunities, and the management and sale of services to the vegetable traced oil burning power plants. The acquisition also will meet a number of strategic TerniEnergia’s target. Free Energia has a volume of estimated revenues for the year 2014 amounted to approximately Euro 170 million. This transaction, along with the acquisition of 100% of Lucos Alternative Energies, will be the basis for a strong growth in energy efficiency and for the enhancement of energy production from renewable sources by the managed plants.
  • Strategic development – Focus on business lines with major development, consolidating investments without recourse to new lines of business with lower potential return and growth, where the recent development (EPC, O&M) was based. Concentration on the activity of power generation with the full technological independence and diversification of sources and technologies themselves, to enhance the opportunities for the short term and the coverage requirements of the demand curve. TerniEnergia intends to have a balanced portfolio for each Country in the process of internationalization of PV EPC and environmental business. In particular, continues to conduct intensive scouting activities to promote development projects in the most attractive countries for the installation of large-scale plants.

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 completed the new plant for the treatment of industrial waste fluids in Nera Montoro (TR), now in an advanced authorization phase, that will intercept a substantial demand in a market segment with high technological content and high growth prospects.

On the financial side, TerniEnergia intends to consolidate the excellent reputation with investors through its own presence on the Stock Exchange in order to candidate itself to be an investment platform for institutional investors, creating conditions, through the stability of cash flows, using the debt in a efficient manner with respect to changes in demand of the market.

FURTHER RESOLUTIONS OF THE BOARD OF DIRECTORS

The Board of Directors of TerniEnergia stated that the proposal plan for the purchase of own shares ( buy-back), will be subject to the same Shareholders’ Meeting to be convened for the approval of capital increase planned for the acquisition of 100% of Free Energia SpA.

Declaration of the Officer responsible for preparing the corporate accounting documents

The Officer appointed for the preparation of accounting and corporate documents, Dr. 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.

Deposit of documents

Please note that the Interim Financial Report as at June 30, 2014 of the Group TerniEnergia approved by the Board of Directors of TerniEnergia today, will be available to the public, together with the report of the independent auditors, in the manner and within the time provided by law.

TE-COS_1H2014-07-08-2014(EN)

01Sep 2014

Italeaf S.p.A. (“Italeaf”) has been approved for trading on NASDAQ OMX First North. The first day of trading on NASDAQ OMX First North is Thursday, 4 September 2014.

The shares in Italeaf are represented by Swedish Depository Receipts (SDRs). The SDRs will trade under the ticker symbol ITAL with the ISIN code: SE0006143103.

“Our listing on the NASDAQ OMX First North is a major corporate milestone for our Company and a testament to the tremendous progress we have made over the past few years.” stated Dr. Monica Federici, CEO of Italeaf. “We are an innovative company, and as such, we have chosen a pioneer road: we are the first italian company listed in the Nordic Market, the first to approach the stock exchange with a company builder business model and, at last, the first to turn to investors who believe in environmentally sustainable technology investments. We believe that the listing on NASDAQ will help broaden our shareholder base, increase appeal to institutional investors, provide us with better liquidity and ultimately contribute to increasing shareholder value”.

The Company has published a company description that has been approved by NASDAQ OMX and is available on Italeaf’s website http://www.italeaf.com/wp-content/uploads/2014/07/CompanyDescription-ItaleafSpA.pdf and on Mangold’s website, http://mangold.se/Mangoldonline/uploads/news/CompanyDescription-ItaleafSpA.pdf.

Certified Adviser

Mangold Fondkommission AB will act as the Certified Adviser for Italeaf on NASDAQ OMX First North.

 

For further information please contact: 
Filippo Calisti

CFO – Italeaf S.p.A.

E-mail: calisti@italeaf.com

 

Mangold Fondkommission AB

Tel. +46 (0)8 5030 1550

info@mangold.se

 

Press Release_Company Description_Italeaf_2014-09-01

03Sep 2014
  • In July 2014 Italeaf S.p.A.’s (“Italeaf” or the “Company”) carried out a private placement of MEUR 2 in order to broaden the shareholder base and therefore creating the necessary free float needed for listing on NASDAQ OMX First North (the “Offer”).
  • The Offer was subscribed to approximately 55.5 percent, all paid in cash. Italeaf was provided with approximately MEUR 1.1 before issue costs and got 71 new shareholders.
  • A total of 444,000 shares were issued under the Offer, at a subscription price of EUR 2.5 per share.

Italeaf carried out a private placement in July 2014 (the “Offer”). The Offer was subscribed to approximately 55.5 percent, all paid in cash. A total of 444,000 shares were issued under the Offer. Italeaf was provided with approximately MEUR 1.1 before issue costs.

The Offer was made in order to broaden the shareholder base and therefore creating the necessary free float needed for listing on NASDAQ OMX First North. With 71 new shareholders the Offer was a success.

The number of shares in Italeaf increased by 444,000. The share capital increased by EUR 444,000. After the Offer the total number of shares amounts to 15,444,000. After the Offer Italeaf’s share capital amounts to EUR 15,444,000.

The company description has been updated with this information and is available on Italeaf’s website http://www.italeaf.com/wp-content/uploads/2014/07/CompanyDescription-ItaleafSpA.pdf and on Mangold’s website, http://mangold.se/Mangoldonline/uploads/news/CompanyDescription-ItaleafSpA.pdf.

 

Press Release_Issue Result 2014-09-03

04Sep 2014

The President Stefano Neri: “A historic day for the Italian industry innovation. Our Company ‘active in cleantech and smart innovation opens up a new market for investors with high interest in social responsibility’.

Stockholm, September 4, 2014 – Italeaf, holding and first Italian company builder active in cleantech and smart innovation, announces today that were started trading on the MTF NASDAQ OMX First North Stock Exchange

Stockholm. In the opening action did a performance of + 2%.

“Italeaf ‘the first Italian company to land on the Swedish market – said the president Stefano Neri – a choice made for a number of reasons: the sensitivity of the Nordic investors for clean technologies, innovation and social responsibility, first and foremost. Our Company ‘opens a new promising market for that Italian industry who wants to compete on the global scene with an innovative vision. We are particularly pleased with the interest that Nasdaq OMX has had in our project and we hope to get, thanks to the support of this platform, an important contribution to the process of creating value for our shareholders. ”

The placement price and the First North was 2.5 euro per share.

The goal of Italeaf now is to continue to deliver value, widening the shareholder base and increasing the exploitation of a brand that is a candidate to be an attractive factor for new business and startups in the areas of high in innovation, technology and environmental fallout .

The intention of the Group, which controls in addition to TerniEnergia (company ‘listed on the STAR segment of the Italian Stock Exchange) also others startups like Greenled Industry (production of LED lamps for power), Skyrobotic (mini and micro drones in class for use in civil and commercial) and Wisave (internet of things for energy efficiency and thermal) is to propose a new business model that sinks, however, its roots in the technological capabilities of the Made in Italy, by hooking the megatrend of cleantech and the convergence between digital and manufacturing .

Yesterday a delegation of the management of the Company ‘, composed of the President Stefano, Managing Director Monica Federici, the board of directors Ivano Emili, CFO Philip Calisti and the responsible development and corporate communications Federico Zacaglioni, was received by the Italian in Sweden, SE Elena Basile, and she ‘congratulated for their success and for the process of internationalization that Italeaf is finalizing.

Italeaf published a Description Company which was approved by NASDAQ OMX and which is available on the Company’s website: http://www.italeaf.com/wp-content/uploads/2014/07/CompanyDescription-ItaleafSpA.pdf and on the site Internet Mangold: http://mangold.se/Mangoldonline/uploads/news/CompanyDescription-ItaleafSpA.pdf

 

Press Release_2014-09-04

 

Interview with Italeafs CEO Monica Federici

 

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