28 March 2024, 14:01
Best half-year results ever: ebitda at €5.4 million, with gross margin at €8.3 million and net result in strong growth to €2.4 million 400,000 users managed, over 200% growth in unit margins and significant increase in volumes delivered confirm the scalability of eviso's business model
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Main results for the semester July–December 2023:
- Revenues at €109.1 million compared to €145.4 million in the six months to 31 December 2022;
- EBITDA at €5.4 million compared to €0.1 million in the half-year to 31 December 2022;
- Net result at €2.4 million compared to € -1.0 million in the first half of 2022;
- Net Financial Position (NFP) at €5.3 million (cash positive) compared to €9.0 million (cash positive) at 30 June 2023 and € -4.0 million (cash negative) at 31 December 2022;
- Gross unit margin, direct power users equal to 30.08 €/MWh (+204%YoY);
- Gross unit margin, power reseller market, equal to 12.20 €/MWh (+445%YoY)
Saluzzo (CN), 28 March 2024 – 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) – examined and approved, today, the half year report as at 31 December 2023, drawn up pursuant to the Euronext Growth Milan Issuers Regulation and in compliance with Italian accounting standards.
In the half-year just ended eVISO generated €5.4 million of EBITDA, the highest value ever, a result that concretely marks the acceleration compared to the €0.1 million of EBITDA in the same half-year of 2022 (characterized by anomalous dynamics from the price of energy) and the increase of 157% compared to the €2.1 million EBITDA for the 12 months of the entire financial year FY22-23.
The six months ended in December 2023, thanks to the notable increase in the number of users and volumes, signals the recovery of eVISO after the negative external dynamics of the July-December 2022 period. The energy supplied grew by 47% to 431 GWh while total users served exceed 400 thousand (+66% YoY).
The strong acceleration of EBITDA and the ability to maintain a profit formula with a positive cash conversion cycle, which positions the NFP at over €5.3 million in cash, are concrete demonstration that the platform business model adopted by eVISO has now exceeded the scale dimension necessary to create more and more value in a structural way.
The results obtained highlight the scalability of the eVISO business model, favoured by its proprietary digital infrastructure, which allows it to manage a growing number of users at the same cost. This encourages a gradual increase in the company’s profitability over time.
Gianfranco Sorasio, CEO of eVISO, commented: “In 2023, the focus on Artificial Intelligence has grown globally, with eVISO confirming itself as a pioneer in its use in the European energy sector, as demonstrated by our leadership position as the fourth company by turnover in the IT & Software sector according to the Financial Times. eVISO’s profit formula, based on a platform business model, began to ground its value in a scalable way in the half-year just ended: record Gross Margin (GM) at €8.3 million, record half-yearly EBITDA at €5.4 million, record half-year net profit of €2.4 million and Net Financial Position of €5.3 million (i.e. more cash than debt). The aggregate 2023 results of utilities listed company. on the main market show an average debt rate equal to 73% of aggregate turnover and the European Central Bank. notes that the cost of debt for companies in the euro area in December 2023 stood at 5.25%. eVISO’s cash generating capacity will continue to be a significant competitive advantage as long as average utility debt ratios and interest rates do not change substantially. We are thrilled with the scale results achieved this semester and the solid growth visibility across the various segments and geographies in which we operate.”