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Redelfi approves the update of the Business Plan 2023-2026 – 93% Green incidence and 69% EBITDA margin at end of Plan

By 11 December 2023No Comments

What follows is the press release, available (in Italian) in PDF format.


Milan, 11 December 2023

The Board of Directors of Redelfi S.p.A. (“Redelfi” or the “Società”), company heading the industrial group of the same name with operational headquarters in Genoa – active in the development of projects for innovative and sustainable infrastructure to ease the energy transition, and listed on the Euronext Growth Milan segment of the Italian Stock Exchange – today approved the updated Business Plan 2023-2026 (hereinafter the “2023-2026 Updated Plan“).

In the coming years, the Group’s activities will be focused on the expansion of the Green BU, and in particular on the development of stand-alone Battery Energy Storage System (“BESS”) projects both in the USA and in Italy. In fact, if the CAGR on the overall turnover of the 2023-2026 Updated Plan is approximately 50%, that of the Green BU alone is equal to 57%.

The 2023-2026 Updated Plan is essentially based on five drivers: achieving BESS Power Corporation’s target of 2.4 GW, increasing Redelfi’s presence in the U.S. market by an additional 2 GW, completing the first Italian pipeline with a total capacity of about 1 GW (ref. press release of Oct. 30, 2023), developing a second Italian pipeline with a total capacity of 2.8 GW, and creating Renewable Energy Communities (“CERs”) in Italy.

Comparing the 2023-2026 Updated Plan with the previously shared 2022-2026 Business Plan (ref. press release of 2 November 2022) (hereinafter the “2022-2026 Plan“), an increase in business volume and profitability is evident as early as 2023, and above all an important increase in EBITDA, which as early as 2024 will record a positive change of more than 120% compared to what was previously assumed. This significant increase in projections is mainly the result of the sudden growth of the Green BU, which in the current fiscal year has taken a key role in the Redelfi Group’s industrial strategy and will therefore bring in higher margins than those derived from the other business units. Specifically, the incidence of the Green BU will reach 93% of the consolidated turnover in 2026, with an overall consolidated EBITDA margin of about 69%, more than 10 points higher than the 2022-2026 Plan.

In the coming years, in fact, Redelfi intends to strengthen its presence in the U.S. territory with the development of an additional pipeline of BESS projects and implement the activity on the Italian market, which represents the main innovation of the 2023-2026 Updated Plan, with the forecast to develop two distinct pipelines with a total capacity of 2.8 GW and 1 GW respectively. The creation and management of Renewable Energy Communities (“CERs”) in Italy remains an objective reflected in the 2023-2026 Updated Plan; however, pending the issuance of the Implementation Decree which will govern the incentive mechanisms, the Group deemed it appropriate to postpone the operation to the years 2025-2026.

The MarTech BU will have a decreasing impact on the Group’s revenues, while still bringing in linear revenues from the IT consulting activity, which has become predominant in the specific BU during the current fiscal year. Because of the recurring and ongoing nature of this activity, the development and launch of the two products Jarions and Adest are no longer reported in the 2023-2026 Updated Plan; they will be implemented in the future, only through collaborations with specialized partners.

The GreenQuest project, an objective of the Greentech BU, included in the 2022-2026 Plan, has been suspended in order to focus the Group’s resources on implementing the Green BU.
The 2023-2026 Updated Plan envisions the achievement of the following economic-financial parameters:

This press release is available on website, section Investor Relations > Press Release, and on


Redelfi is the company at the helm of the homonymous Group, engaged in the energy and digital transition, with a strong innovative approach in the definition of products, services and processes, and high focus on compliance with ESG principles.
Following the 2023 half-yearly financial report, the Group achieved a Value of Production of € 4.2 million and a Net Result of € 1.4 million. Net Financial Position is € 3 million, and Net Equity is € 11 million.


Redelfi | Investor Relations Manager | Erika Padoan | | T: +39 320 7954739 | via A. Scarsellini, 119 Torre B “I Gemelli” 11 piano, 16149 Genova
Redelfi | Media Relations | Carolina Beretta | | via A. Scarsellini, 119 Torre B “I Gemelli” 11 piano, 16149 Genova

IR Top Consulting | Investor Relations | | T: + 39 02 4547 3884/3 | Via Bigli, 19 – 20121 Milano
IR Top Consulting | Media Relations | | T: + 39 02 4547 3884/3 | Via Bigli, 19 – 20121 Milano

Integrae SIM | | T: +39 02 96846864 | Piazza Castello, 24 – 20121 Milano