13 February 2025, 11:05
DOWNLOAD THE PDF
HALF-YEARLY GROSS MARGIN BETWEEN € 10.3 AND € 11.1 MILLION, GROWING BETWEEN 24% AND 34% YOY
- Revenues at € 169.5 million, +55% YoY
- Total energy supplied equal to 615 GWh, +43% YoY
- Total gas supplied equal to 4.0 million smc, +155% YoY
- Net Financial Position (cash positive) at € 11.3 million, compared to a PFN (cash positive) equal to € 11.5 at 30 June 2024
- Total collection points equal to 217 thousand, +20% YoY
Saluzzo (CN), 13 February 2025 – The Board of Directors of 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) – – met today and examined the preliminary half-yearly results for the period July 2024 – December 2024, which were not subject to audit.
In the first six months of the 2024-2025 financial year (July 2024 – December 2024), eVISO recorded a significant increase in all key indicators. Revenues reached € 169.5 million, marking a 55% increase compared to the same period of the previous year, driven by the expansion of the customer base and effective commercial strategies implemented during the semester.
During the semester, the total number of collection points increased by 20%, reaching 217 thousand, while the energy supplied reached 615 GWh, with an annual increase of 43%. Gas supply also recorded a strong increase, reaching 4.0 million smc (+155% on an annual basis).
These results contributed to a robust increase in Gross Margin which, in the first half of the year, stood at between € 10.3 million and €11.1 million, up between 24% and 34% compared to € 8.3 million in the same period of the previous year.
Gianfranco Sorasio, CEO of eVISO, commented: “I am extremely satisfied with the results achieved in the first half of the 2024-2025 financial year. The Gross Margin per share, in the six months July – December 2023, was € 0.34/share. The half-year just ended recorded a Gross Margin between € 10.3 million and € 11.1 million, an increase between 24% and 34% compared to the previous period, equivalent to a half-yearly GM per share between € 0.42/share and € 0.45/share. eVISO’s platform business model has confirmed its cash generation capacity, allowing the company to make the necessary investments to support revenue growth (+55%), as well as to purchase € 2.6 million of its own shares in buy-back, distribute a dividend for a total of € 1.1 million and still confirm a net cash financial position of € 11.3 million”.
KPI BY BUSINESS SEGMENT FOR THE PERIOD JULY 2024 – DECEMBER 2024
POWER
The collection points (POD) recorded an increase of +19% (compared to the 178,872 PODs managed in the period July 2023 – December 2023) reaching 213,021, of which 23 thousand direct and 190 thousand managed by the 96 resellers associated with eVISO. The number of resellers represents a share of 14% of the total free market sales operators registered in Italy (704) in the List of Electricity Sellers (EVE) drawn up by the Ministry of the Environment and Energy Security updated as of 31.12.2024. Furthermore, the total number of PODs includes a residual share of retail customers (205 PODs), equal to zero in the period July 2023 – December 2023, in line with the company strategy to penetrate this segment as well.
The total energy supplied is equal to 615 GWh, up 43% compared to 431 GWh in the period July 2023 – December 2023, of which 424 GWh related to the reseller channel (297 GWh in the period July 2023 – December 2023) and 191 GWh addressed to the direct channel (134 GWh in the period July 2023 – December 2023). The increase in energy supplied was positively influenced by the strengthening of eVISO’s commercial distribution network.
GAS
Total gas supplied reached approximately 4.0 million scm (standard cubic meter), up 155% compared to 1.6 million scm in the period July 2023 – December 2023. The majority of the gas supplied is attributable to direct customers, as resellers have only recently entered eVISO’s customer portfolio.
The total collection points (PDR) are equal to 4,322 and have recorded an increase of +95% compared to the 2,221 PDRs managed in the period July 2023 – December 2023. The PDRs registered in the period are attributable for 97% to direct customers.
ANCILLARY SERVICES
The ancillary practices subject to invoicing were approximately 16,500 compared to the approximately 33,000 ancillary practices provided in the period July 2023 – December 2023. The reduction in practices towards the reseller channel is attributable, as already communicated, to the resolution, introduced from 1 December 2023, where ARERA, the sector authority, has established that some practices must be managed independently by the commercial counterpart (reseller).
FRESH APPLES
In the first 6 months of 2024-2025, 476 tons of fresh and processing apples were delivered. The turnover settled at € 0.1 million.
eVISO has signed an agreement with Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, aimed at expanding the Smartmele project on a global scale, starting from the Gulf countries.
NET FINANCIAL POSITION
The Net Financial Position is almost unchanged and positive (cash) by € 11.3 million, compared to a positive Net Financial Position of approximately € 11.5 million (cash) at 30 June 2024 and positive at € 5.3 million (cash) at 31 December 2023.
The NFP from June 30, 2024 to December 31, 2024 was affected as follows:
- positively by € 5.4 million related to the improvement in working capital;
- negatively by the reduction of € 1.5 million in security deposits, following the realignment of guarantee requests to the price of energy;
- negatively by the increase in buyback activity of approximately € 2.6 million;
- negatively by the increase of € 0.5 million related to the investment in the property owned;
- negatively by the payment of the dividend for € 1.1 million.
For ease of reading, the graph below represents the elements that contributed to the change in the Net Financial Position in the period, in positive terms in case of cash generation and in negative terms in case of cash absorption.
Chart summarizing the trend of the Net Financial Position from 30 June 2024 to 31 December 2024, highlighting the items that generated or absorbed cash
Below is a graph highlighting the composition of the Net Financial Position and its evolution[1]:
[1] In the graph, the line relating to “NFP + Securities” highlights the correction of the Net Financial Position taking into account the Securities, which are not included in the calculation of the PFN following the Italian accounting principles. To calculate this value, treasury shares and other non-material options were added to the PFN of the period.
Chart illustrating the composition of the Net Financial Position from FY 2020-21 to 1H 2024-25, highlighting the debt and cash components and the trend of the PFN and of the “PFN + Securities”. The value of the 1,105,599 treasury shares at 12/31/2024 is recorded in the securities item; of these, the 500,000 shares of the stock option plan are prudentially valued at the exercise price (€ 4.00) and for the remaining number of 605,599 shares at the market value at December 31, 2024 (€ 7.18)
***
Below is a table summarizing the main KPIs for the period July 2024 – December 2024:
***
IMPLEMENTATION METHODS APPROVED FOR LAUNCHING THE “BUY-BACK” PROGRAM
Furthermore, also today, eVISO S.p.A. announces that, in execution of the authorization granted by the Shareholders’ Meeting of October 28, 2024, the Board of Directors of the Company has approved the implementing procedures for the launch of a program for the purchase of own shares, for a number of shares not exceeding 10% of the Company’s pro-tempore share capital.
It should be noted that the Company, based on the data available to date, holds n. 1,109,499 own shares, representing 4.50% of the share capital.
The shares thus purchased may be used, in accordance with the shareholders’ resolution of 28 October 2024, (i) to dispose of treasury shares to be allocated to service any future incentive plans for members of the administrative body, employees or collaborators of the company that imply the disposal or assignment of shares or financial instruments convertible into shares, (ii) to have a securities portfolio (so-called securities warehouse) to be used, consistently with the strategic lines of the Company, to service any extraordinary transactions and/or the possible use of the shares as consideration in extraordinary transactions, including the exchange of shareholdings, with other parties in the context of transactions of interest to the Company, and (iii) pursue an efficient use of the liquidity generated by the characteristic activity of the Company also through medium and long-term investment in treasury shares.
Pursuant to Article 2357, paragraph 1, of the Civil Code, the purchase of treasury shares must take place within the limits of distributable profits and available reserves resulting from the latest regularly approved financial statements and, upon purchase or sale, exchange, contribution or write-down of the shares, the appropriate accounting entries will be made, in compliance with the provisions of law and applicable accounting principles.
Purchases must be made in compliance with the price limits indicated by the legislation, including regulatory, in force at the time, (i) at a price that does not deviate in decrease or increase by more than 20% compared to the reference price recorded by the stock in the stock exchange session of the day preceding each individual transaction, and in any case (ii) at a price that is not higher than the higher price between the price of the last independent transaction and the price of the highest current independent purchase offer present on the trading venue where the purchase is made.
It is not possible to purchase, on each trading day, a volume greater than 25% of the average daily volume of shares on the trading venue where the purchase is made in the twenty trading days prior to the purchase date.
Purchases will be initiated as soon as possible and compatibly with market conditions and will be carried out on Euronext Growth Milan, in compliance with the conditions set out in the resolution of the Shareholders’ Meeting of 28 October 2024, as well as in accordance with the provisions of Regulation (EU) 596/2014 on market abuse and Delegated Regulation (EU) 2016/1052.
***
The above data are of a management nature and are not subject to audit. The complete economic-financial data will be published, as per the Company’s financial calendar, following the relative approval by the Board of Directors, scheduled for Thursday, March 27, 2025.
The Company will illustrate the preliminary financial data to the financial community through a webinar on Friday, February 14, 2025 at 11:00 CET.
***
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.