Read the press release in PDF format here (in Italian)
REDELFI UNVEILS BUSINESS PLAN 2022-2026. SIGNIFICANT GROWTH EXPECTED FROM BU “GREEN” THANKS TO INNOVATIVE BATTERY ENERGY STORAGE SYSTEMS IN THE U.S. AND ENERGY COMMUNITIES IN ITALY
EXPECTED REVENUES AT THE END OF THE PLAN WILL BE IN THE RANGE OF 44 – 45 MILLION EUROS (OF WHICH ABOUT 60% FROM GREEN BU)
Milan, Nov. 2, 2022
Today the Board of Directors of Redelfi S.p.A. (the “Company” or the “Group”), a management company committed to the digital and green transition and listed on the Euronext Growth Milan market, approved the 2022-2026 Business Plan.
The drivers on which the Group intends to focus its growth strategy over the next four years will involve the three Business Units and in particular development of the Green BU, which will account for an average of 60%of consolidated turnover at the end of the plan.
Specifically, a significant development of the Group in the American market is expected through projects in the BESS (Battery Energy Storage System) area in the United States related to the sale and licensing to institutional investors, as well as the implementation of CERs (Renewable Energy Communities) in Italy.
Increasing penetration of energy produced from renewable sources (non-programmable and unstable) into the grid determines the need to create stabilization solutions such as battery storage. The business plan envisages the development of authorizations for a pipeline of projects for about 1.4 GigaWatts of power in 4 years, for a total amount of the Group’s investment in 2023 of EUR 2.6 million. Specifically in the U.S., BESS is expected to grow significantly as a result of the Inflation Reduction Act (IRA) passed by President Biden in August 2022, which includes a USD 128 billion investment earmarked for renewable energy and related storage. Redelfi’s management will leverage its years of experience in renewable energy and the U.S. network developed over the years from past experience for this purpose.
Renewable Energy Communities (RECs) are associations created among citizens, local governments, businesses and/or small and medium-sized enterprises for the purpose of producing and sharing energy from renewable sources in a limited geographical area. Redelfi, in the role of investor, will support the construction of the photovoltaic plants serving the RECs with a total investment of about €5.5 million by 2024.
The Martech BU, whose revenues are expected to affect an average of about a little more than 30% over the plan period, plans to consolidate its IT consulting business, develop and launch its two products Jarions (aggregator of social content in a single platform dedicated to business flow management) and Adest (dynamic product placement platform that uses Augmented Reality for brand and product placement). The Group conservatively expects the first revenues to be consolidated, after a Beta test period, around the second half of 2024 and the first half of 2025, respectively, since both products are still under development due to the difficulty in finding qualified personnel encountered in recent months.
Finally, the GreenTech BU plans to develop the FinTech project GreenQuest, which aims to convey capital for reforestation by issuing cryptocurrency. According to business plan forecasts, first revenues are expected in Q4 2023.
The Business Plan envisions achieving the following economic and financial parameters:
| Values in €/mln | 2022 | 2023 | 2024 | 2025 | 2026 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Production Value | 3,5 | 3,7 | 8,6 | 9,0 | 12,3 | 12,8 | 24,0 | 24,7 | 44,0 | 45,0 |
| EBITDA | 0,4 | 0,6 | 1,2 | 1,5 | 2,5 | 3,0 | 8,5 | 9,2 | 23,0 | 24,0 |
| PFN (Cash) | 0,1 | 0,3 | 4,2 | 4,5 | 0,8 | 1,3 | (4,2) | (4,8) | (19,0) | (20,0) |
The Chairman of the Board of Directors, Davide Sommariva commented, “With the presentation of the 2022-2026 Business Plan, we have decided to make an important commitment to the market, strengthened by our experience in the green sector and the new structure created. We are working on the industrial underpinnings that will enable the company to realize the challenging plan and, in view of the significant investments that we will have to face mainly in the first two years of the plan in order to be able to develop the main activities of the green business unit, we are considering some financing options.”
This press release is available on the website www.redelfi.com, Investor Relations > Press Releases section and at www.1info.it
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Redelfi is the parent company of the Redelfi Group active in the digital and green transition through three Business Units operating in the Green, MarTech and GreenTech sectors. Each Business Unit adopts a highly innovative approach in defining products, services, and processes with a strong focus on compliance with ESG principles in business management. In the 2021 fiscal year, the Group achieved a Production Value of EUR 1.2 million and a Net Income of EUR 3.5 million, the latter as a result of extraordinary transactions. Its Net Financial Position was cash positive by EUR 0.1 million and Shareholders’ Equity is EUR 5.6 million. In 2021, the Group made investments of approximately EUR 4.5 million.
Contacts:
ISSUER
Redelfi | Investor Relations Manager | Erika Padoan | investor-relations@redelfi.com | T: +39 320 7954739 | via A. Scarsellini, 119 Torre B “I Gemelli” 11 piano, 16149 Genova
Redelfi | Media Relations | Carolina Beretta | carolina.beretta@redelfi.com | via A. Scarsellini, 119 Torre B “I Gemelli” 11 piano, 16149 Genova
INVESTOR & FINANCIAL MEDIA RELATIONS
IR Top Consulting | Investor Relations | ir@irtop.com | T: + 39 02 4547 3884/3 | Via Bigli, 19 – 20121 Milano
IR Top Consulting | Media Relations | d.gentile@irtop.com | T: + 39 02 4547 3884/3 | Via Bigli, 19 – 20121 Milano
EURONEXT GROWTH ADVISOR & SPECIALIST
Integrae SIM | info@integraesim.it | T: +39 02 96846864 | Piazza Castello, 24 – 20121 Milano
