• The explanatory notes to the consolidated half-yearly report at 30 June 2017 are supplemented
  • Unchanged economic and financial results
  • Elected the chairmen of the Control and Risks and Related Parties Committees

 

The Board of Directors of TerniEnergia, a company listed on the Star segment of the Italian Stock Exchange and part of the Italeaf Group, met under the chairmanship of Stefano Neri, reapproved the Half-Yearly Financial Report at 30 June 2017.

Taking into account the events that occurred following September 28, 2017, as well as the requests received from Consob pursuant to Article 114, paragraph 5, of the TUF on November 8,2017 and the press release issued on November 10, 2017, it was considered appropriate to update and supplement the information previously contained in the half-yearly financial report, with particular reference to the assessments of directors on going concern.

The economic and financial results achieved by the Company at consolidated level in the period ended June 30, 2017 remain unchanged from those communicated on September 28 ,2017, to which reference should be made and which are summarised below:

CONSOLIDATED RESULTS AS AT JUNE 30, 2017

Revenues amounted to Euro 40.2 million (Euro 50.5 million; -20.4%), showing the contribution of the energy management activities and of the new plants based in Tunisia and in Zambia, and the revenues attributable to e energy efficiency project of Copernico Torino. 

EBITDA amounted to Euro 6.8 million, showing a decrease (-28.2%) compared to June 30, 2016 (Euro 95 million) with Ebitda Margin equal to 17% (18.8% as at 06/30/2016).

Net operating income (EBIT) amounted to Euro – 6.2 million (Euro 5.9 million as at June 30, 2016), after depreciation, amortization and write-downs of Euro 13 million. The depreciation is largely attributable to the suspension of EPC’s activities, resulting from the choices made by previous management and partly to the alignment of the impairment of an asset.

Net profit amounted to Euro – 6.5 million (1.1 million at June 30, 2016).

The net financial position amount to Euro 87.5 million (in reduction compared to Euro 93.9 million as at 12/31/2016).The non-current NFP is Euro 76.6 million, while the net financial position in short term amounted to Euro 10.9 million. The NFP/Net equity ratio equal to 1.62x (1.63x as at 12/31/2016).

The Net Equity amounted to Euro 54.1 million (Euro 57.5 million at 12/31/2016).Net equity takes into account the treasury shares held in portfolio, which amounted to No. 1,012,998 (2.15% of the Share Capital).

The Half-Yearly Financial Report at 30 June 2017, approved by TerniEnergia’s Board of Directors on 1 December 2017 – together with the Report containing the opinion of the Independent Auditors – will be published today on the authorized storage mechanism “1INFO (www.1info.it) and on the Company’s website www.ternienergia.com (Investor Relations section).

 

Declaration pursuant to Article 154-bis, paragraph two, of the Consolidated Finance Act

The Officer responsible for the preparation of the corporate accounting documents, Mr Paolo Allegretti, declares, pursuant to paragraph 2, art. 154-bis of the Consolidated Financial Act, that the accounting information that is contained in this press release correspond to the documentary results, the accounting books and records

 

COMMITTEES

TerniEnergia announces that the Related Parties Committee has elected the independent director Stefania Bertolini as Chairman. The Related-party Committee is composed as follows: Stefania Bertolini (Chairman), Mario Molteni, Paolo Migliavacca. The Control and Risk Committee elected Paolo Migliavacca, the independent director, as Chairman.  The Control and Risk Committee is therefore composed as follows: Paolo Migliavacca (Chairman), Stefania Bertolini, Mario Molteni.