19 December 2024, 07:48
EVISO ENTERS THE TOP 4% OF FINANCIALLY SOLID COMPANIES IN ITALY WITH AN INDEPENDENT RATING ISSUED BY CERVED RATING AGENCY
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Saluzzo (CN), 19 December 2024 – eVISO S.p.A. (simbolo: EVISO) – COMMOD-TECH company, listed on the EGM, with a proprietary artificial intelligence infrastructure that operates in the raw materials sector (electricity, gas, apples) – announces that Cerved Rating Agency S.p.A. has raised the company’s rating from A3.1 to A2.2 (equivalent to A from S&P’s and FITCH and A from MOODY’S).
To give a scale, in Italy companies with a rating class of A2.2 issued by Cerved Rating Agency are 4% of the total companies with a rating issued by the Agency[1].
The rating upgrade reflects: (i) the significant development of margins in FY24, supported by a significant growth in power and gas volumes, together with the impact on the entire financial year of the new contractual conditions that have come into force across the entire portfolio; (ii) the maintenance of a cash positive Net Financial Position (NFP) as of 30 June 2024, demonstrating a balanced financial structure, strengthened by careful management of credit risk; (iii) the expected growth prospects for the two-year period FY25-26, also supported by the 1Q25 (July-September 2024) interim results.
Gianfranco Sorasio, CEO of eVISO, commented: “In March 2024, the Financial Times certified that eVISO is in the list of the top 5 fastest-growing companies in Europe, by capitalization, in the IT & Software segment (70% compounded annual growth rate)[2]. Today Cerved Rating Agency certifies that eVISO has reached a “Maximum” level of solidity (A2.2 rating class, equivalent to A by S&P’s), therefore higher than 95% of companies with a rating. eVISO is therefore at the same time one of the fastest growing companies in Europe and one of the companies with the most solid indices in Italy”.
Federica Berardi, Chief Financial Officer of eVISO, added: “The rating upgrade certifies the solidity of the economic-financial fundamentals of eVISO, which thanks to a clear business formula continues to grow in terms of volumes, customer services and innovative projects. The constant commitment to building a value chain in the commodities sector has allowed us to achieve this important result, thus consolidating our position in the Italian market”.
The full rating statement is published by Cerved Rating Agency on the website https://ratingagency.cerved.com/credit-rating-actions/
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This press release is available in the Investor Relations section of the website www.eviso.ai.
For the transmission of Regulated Information, the Company uses the EMARKET SDIR dissemination system available at www.emarketstorage.com, managed by Teleborsa S.r.l. – with headquarters Piazza di Priscilla, 4 – Rome – following the authorization and CONSOB resolutions n. 22517 and 22518 of 23 November 2022.
[1] Data source: https://ratingagency.cerved.com/default-study-2024/
[2] https://www.ft.com/ft1000-2024