(Finance) – The Board of Directors of WELL YESa company listed on Euronext Growth Milan and active in the renewable energy market, has the industrial development plan for the period 2024-2026 was approvedaimed at capturing the strong growth trend in photovoltaic capacity installed globally, and with the aim of continuing to create value for society and shareholders.
The plan includes the construction of photovoltaic systems on behalf of its customers for an installed power equal to a total of 164 MW of which approximately 119 MW deriving from the EPC and System Integrator BUs and 45 MW developed through the new Development & Construction BU. In particular, the objective of the new Development & Construction BU is the in-house development and construction of photovoltaic systems that can be sold to main clients, already connected to the grid and functioning.
Upon completion of the plan, ESI expects to achieve a Production value of 69.3 million euros, with a CAGR (2022A-2026E) equal to +23%. L’EBITDA expected at the end of 2026 is equal to 6 million euros with a EBITDA margin by 8.7%. L’EBIT expected is equal to 5.6 million euros with a EBIT margin by 8.1%. There Net Financial Positionat the end of 2026, is expected to be cash negative for 3.5 million euros, with debt functional to the development of the business and the creation of the new Business Unit Development & Construction.
“The plan approved by the Board of Directors highlights ESI’s desire and incessant commitment to consolidate its market leadership by leveraging its skills and technical capacity in order to seize the opportunities arising from a highly favorable context to the development of renewable energy – commented theAD Riccardo Di Pietrogiacomo – The new Development & Construction Business Unit is part of this perspective, whose objective is to develop and build medium-sized photovoltaic fields on its own to be sold already connected to the grid and functioning to key operators in the sector”.
ESI also communicated that the Board of Directors has taken steps to replacement of the resigning director Raffaele Vanniappointing the current general director in his place Stefano Plocco. The appointment took place by co-optation, following the favorable opinion of the board of auditors.
(Photo: Zbynek Burival on Unsplash)