(Tiper Stock Exchange) – Innovateca company listed on Euronext Growth Milan and active in the energy efficiency and environmental sustainability sectors, closed its first nine months 2022 with revenues and EBITDA close to those of the entire 2021 financial year (including 2021 data from Cobat acquired in early December 2021).
THE revenues as at 30 September 2022 they amounted to 222 million euros (full year PF21: 238 million) and include the results of the Energy Efficiency business (which generated revenues of 79 million driven by the HouseGreen Project) as well as those of the Environment and Circularity (which recorded revenues of 143 million with increasing volumes and prices).
L’EBITDA was 27.1 million euros (full year PF2021: 32.9 million) and theEBIT equal to 15.6 million euros, the latter up by 45% compared to the full year PF2021. L’EBITDA margin of 12% as at 30 September 2022 is down by about two percentage points (14%) compared to the pro forma figure for the entire year 2021 and for the first half of 2022.
“Despite the macroeconomic climate characterized by a general increase in energy and raw materials as well as constant postponements in the regulatory framework of the 110% eco-bonus, the performance of the first nine months of 2022 recorded significant progress in our executive path set by the Business Plan – commented the president Elio Cosimo Catania – Revenues and EBITDA at 30 September are close to the values for the full year 2021, while EBIT already exceeds last year’s figure“.
There Net Financial Position as at 30 September 2022 it was negative at -44 million euros, up compared to -10 million as at 31 December 2021. The positive cash generation guaranteed by the operating profitability and by the capital increase was put at the service of the realization of productive investments (12.4 million) and strategic acquisitions (23.6 million), while in the period there was a
increase of net working capital of approximately 27 million mainly deriving from the lengthening of the times for the disposal of the ecobonus 110% tax credits.