– 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for the acquisition of Free Energia and the change of the reference scenario, the Board of Directors considers outdated the industrial plan “Discover the new green era” and gives the green light to the strategic review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
Terni, 7 August 2014
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”.