Altea Green Power, double-digit growth in the first nine months. Di Pascale: we confirm plan targets and guidance

Altea Green Power double digit growth in the first nine months

(Finance) – Altea Green Power closes the first nine months of the year with revenues totals between €20.0 and 20.5 million, recording an important
growth of over 69% compared to €11.8 million as of 30 September 2023.

EBITDA is between €11.0 and 11.5 million, with a significant increase of over 107% compared to the €5.3 million at 30 September 2023 and which records an EBITDA Margin of approximately 55% (45 % as of September 30, 2023.

Net Financial Debt is equal to €8.6 million (cash negative) compared to €4.4 million (cash negative) at 31 December 2023. Net financial debt for the first nine months of 2024 was impacted by the payment of tax debt for approximately €4 .5 million made in the third quarter, as well as the delayed collection of over €3.0 million of invoices expected in the third quarter and subsequently collected in October 2024.

The order book as of 30 September 2024 it exceeded the value of €150 million.

Giovanni Di Pascale, CEO of Altea Green Powercommented: “We are very satisfied with the excellent results of this third quarter, in line with our expectations. Results that confirm the validity and effectiveness of our business model and which allow us to record double-digit growth, as well as consolidate Altea Green Power’s position as a reference partner in the world of Italian and American Bess. The positive trend of economic indicators and the response of
market stimulate us to always reach new and challenging goals, not least the choice to undertake the translisting process to move to the main market of the Italian Stock Exchange, STAR segment, and allow us to be reasonably confident in continuing our growth strategy, confirming the targets and guidance indicated in the Business Plan“.

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