Read the press release in PDF format here (in Italian)
REDELFI SHAREHOLDERS’ MEETING APPROVES 2022 BUDGET
Milan, April 18, 2023
Redelfi S.p.A.‘s Shareholders’ Meeting (the “Company” or “Redelfi”), a management company committed to the digital and green transition and listed on the Euronext Growth Milan market, met in ordinary session today under the chairmanship of Dr. Davide Sommariva.
Consolidated and annual financial statements as of December 31, 2022
The Shareholders’ Meeting reviewed and approved the Annual Financial Statements and reviewed the Consolidated Financial Statements as of December 31, 2022.
Consolidated Financial Statements as of December 31, 2022 – Main Results.
Production Value amounted to EUR 4.5 million and thus showed significant growth (+390%) compared to December 31, 2021 (EUR 0.9 million) and compared to the pro forma consolidated financial statements as of December 31, 2021 (EUR 1.2 million). This result is attributable for EUR 2 million to the Green Business Unit (EUR 34 thousand as of December 31, 2021), for EUR 1.7 million to the MarTech Business Unit (EUR 0.8 million as of December 31, 2021) and for EUR 0.8 million to other revenues (EUR 38 thousand as of December 31, 2021).
EBITDA (Gross Operating Margin) amounted to EUR 1.7 million, with EBITDA margin of 37.3%, a clear increase compared to December 31, 2021 (negative EUR 0.9 million) and the pro forma consolidated figure as of December 31, 2021 (negative EUR 0.8 million).
Adjusted EBITDA, calculated not taking into account the positive contribution, in the amount of EUR 411 thousand, deriving from the recognition of the tax credit inherent in the costs incurred for the listing process on the Euronext Growth Milan market, corresponding to 50% of the total of the same, is equal to EUR 1.3 million.
EBIT amounted to EUR 1.14 million (negative EUR 1.2 million as of December 31, 2021 and December 31 pro forma) after depreciation, amortization, provisions and write-downs of approximately EUR 0.5 million.
Consolidated Net Income amounted to EUR 0.27 million (including EUR 0.26 million attributable to the Group), after taxes of approximately EUR 100 thousand. The change from the previous year (EUR 3.5 million as of December 31, 2021 and December 31, 2021 pro forma) is attributable to the fact that in fiscal year 2021 the consolidated net income was affected by the capital gain from the sale of the shares held in Renergetica S.p.A. by the Company, which occurred for approximately EUR 7 million (for more information, please refer to the financial statements as of December 31, 2021 and the admission document, which can be found on the Company’s website).
The Net Financial Position was EUR 0.6 million, compared to EUR 0.1 million (cash positive) as of December 31, 2021 and EUR 1.3 (cash positive) as of June 30, 2022.
Financial Statements as of December 31, 2022 – Main Results
Production Value, amounting to EUR 2.8 million (Euro 74 thousand as of December 31, 2021), is growing significantly mainly in relation to services provided to Group companies for the development of the three Business Units.
EBITDA amounted to EUR 1.6 million (negative EUR 0.8 million as of December 31, 2021), while Adjusted EBITDA, calculated not taking into account the positive contribution, in the amount of EUR 411 thousand, resulting from the recognition of the tax credit inherent in the costs incurred for the listing process on the Euronext Growth Milan market, corresponding to 50% of the total of the same, amounted to EUR 1.1 million
EBIT amounted to EUR 1.2 million (negative EUR 1 million as of December 31, 2021).
Net Income is EUR 0.46 million, down from the result as of December 31, 2021 (EUR 3.7 million as of December 31, 2021), which, however, reflected the capital gain from the sale of the investment in Renergetica S.p.A., as reported above.
Net Financial Position is cash positive and amounted to 22 thousand euros (cash positive EUR 124 thousand as of December 31, 2021).
Allocation of profit for the year of Redelfi S.p.A.
The Shareholders’ Meeting resolved to allocate the net income for the year, amounting to EUR 457,992, to the legal reserve in the amount of EUR 22,900 and to retained earnings in the amount of EUR 435,092.
Filing of documents
The Minutes of the Shareholders’ Meeting and the Summary Voting Report will be made available to the public at the company’s registered office and on the website www.redelfi.com (Investor Relations/Shareholders’ Meeting section), as well as on the website www.borsaitaliana.it (Shares/Documents section) within the timeframe stipulated by current regulations.
This press release is available on the website www.redelfi.com, Investor Relations > Press Releases section and at www.1info.it.
Attached to this press release are the consolidated and Issuer Redelfi S.p.A. income statement tables showing the calculation of Adjusted EBITDA.
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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 2022 fiscal year, the Group achieved a Production Value of EUR 4.5 million and a Net Income of EUR 0.27 million. Its Net Financial Position was EUR 0.6 million and its Net Equity was EUR 9.3 million. In 2022, the Group made investments of approximately EUR 6.4 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
