21 December 2023, 07:53
eVISO confirms that it has a balanced financial structure, a structured governance system and important growth prospects in the COMMOD-TECH sector
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Saluzzo (CN), 21 december 2023 – 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. confirmed the company’s A3.1 rating (equivalent to A- from S&P’s and FITCH and A3 from MOODY’S).
The rating is the result of the evaluation of the following factors: (i) a structured governance system which has guaranteed timely management of corporate risks, especially in terms of credit and liquidity; (ii) a balanced financial structure confirmed by a positive NFP (cash) at the end of the financial year on 30 June 2023; (iii) important growth prospects thanks to the expected increase in volumes disbursed in the next two years and an expected development in margins, supported by the entry into force of the new contractual conditions on the entire portfolio.
Despite market volatility, particularly in the period July 2022 – December 2022, eVISO was able to maintain a balanced monetary cycle through the generation of cash flows at an operational level thanks also to requests for prepayments and security deposits. In addition, the Company is able to monitor and manage credit risk through timely monitoring of the customer portfolio and management of collections, despite the inflationary trend in energy commodities recorded during the year.
Cerved Rating Agency added that, despite the current macroeconomic scenario together with the risks of fluctuations in the prices of energy commodities, the Company will be able to maintain its financial balance thanks to the expected growth deriving from: (i) a significant development in volumes power confirmed by the volumes combined with eVISO in December 2023 equal to 1,040 GWh and by the pipeline of annual contracted volumes equal to 1,250 GWh; (ii) supply of gas also for reseller operators, with a first contract already signed in September 2023; (iii) increase in margin levels, thanks to the new contractual conditions applied to reseller and direct customers and the greater stability of the sector observed over the last few months.
Federica Berardi, Chief Financial Officer of eVISO, commented: “The financial year ending in June 2023 was punctuated by unthinkable sector events, which put us to the test. But eVISO, thanks to solid economic-financial fundamentals and a long-term strategic vision, has managed to maintain all its financial commitments and grow, laying the foundations for a 2024 of great challenges. Having the confirmation of an A3.1 rating makes us very proud of the work of every single member of the company and motivates us to do better.”
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.