Stefano Neri, Chairman and CEO of TerniEnergia, smart energy company active in the areas of renewable energy, energy efficiency, waste and energy management, listed on the Star segment of the Italian Stock Exchange and part of the Italeaf Group, commented on the third quarter results and Forecast 2016, disclosed today by the company.
The estimate for the year-end provides Euro 85 million in revenues, EBITDA of approximately Euro 16 million and a Net equity growth to Euro 63 million.
Stefano Neri, Chairman and CEO of TerniEnergia, stated:
“The figures of the forecast 2016 and those of the third quarter photographing the transition phase that is intersting the Group in order to prepare the future. The level of results that we expect to achieve during thefiscal year is less than expected last year, for a number of reasons. Besides the divestment generated exclusively by external factors can not be foreseen by Free Energia, which had contributed to revenues with a massive turnover, account must be taken of the management’s decision to not proceed immediately to the replacement of the company with another trading company. This decision was taken for strategic reasons, focusing on the selection of possible targets for technological and industrial transformation of the TerniEnergia identity in the direction of the Group’s digital transformation and by virtue of regulatory and market issues that have affected the energy management industry in the year. In addition, an acquisition in the field of energy management in the first months of 2016 it would have deprived our company of all its treasury shares to be invested in growth operations through acquisitions. Respect, therefore, the best attainment of economic and financial results we preferred to focus on building solid prospects in the industrial technological profile, integrating two leading companies in the digital energy and even by setting the replacement of the partners for the energy trading to be acquired by the end year (Energetic). In this sense, therefore, the results of the past, while technological choices lead us into the future”.