(Finance) – The Board of Directors of Ansaldo Energy has approved the new 2022-2027 Business Plan and gave the green light to the final proposal for a financial manoeuvre and capital strengthening in favor of the execution of the plan itself, following the positive outcome of the negotiations conducted with the main stakeholders.
In particular, three lines of action are foreseen: the securing traditional business, focusing the company more on the marketing of energy production machines, with particular attention to international markets and increasing the contribution of the Service Business Unit; the Nuclear business development, particularly in the field of fusion (with the construction of the Iter experimental plant in France), fission (with projects, for example, in Romania and Slovenia) and decommissioning, with various works in Italy and the United Kingdom; there business diversification in the context of the energy transitionwhich includes initiatives for storage systems and electrolysers for hydrogen production.
The Maneuver in support of the new Plan includes among other things: a capital increase in cash for a total of 580 million euros offered as an option to shareholders, intended to financially support investments and the implementation of the New Plan and to provide the necessary funding for the partial repayment of the loan by the syndicate banks; the extension of the maturity of the shareholder loan outstanding of 200 million disbursed by the shareholder CDP Equity; the extensionby the pool of banks that support the company, of maturities of credit lines existing medium/long-term contracts and signature lines for the issue of guarantees to support the development of the New Plan; the request for a bank financing with the support of Sacepursuant to the “SupportItalia” guarantee.
To allow the execution of the Maneuver, the BoD has given a mandate to the executive bodies for the finalization of the definitive agreements with the credit institutes and with the other subjects involved. In the next few weeks, and reasonably within the month of April, these agreements will hopefully be concluded and the shareholders’ meeting will therefore be convened for the relevant resolutions.
The BoD has co-opted Fabrizio Fabbri as a new member, with Fabbri che he will assume the position of Chief Executive Officer from tomorrowafter the relationship with Giuseppe Marino ended, as announced in recent weeks.
The council, together with the mayors, expressed “a deep thank you” to the outgoing CEO “for managing the restructuring and leading the company into this new phase, wishing him all the best for his professional future”.