Brief: algoWatt Approves Restructuring Plan, Issues 2021-2024 Business Plan

algoWatt SpA

22/06/2021 08:32

June 22 (Reuters) - algoWatt SpA  ALW.MI :
    * SAID ON MONDAY IT HAD APPROVED RESTRUCTURING PLAN,
SUBSCRIPTION
OF RESTRUCTURING AGREEMENT
    * COMPLETION OF SIGNING PROCESS OF RESTRUCTURING AGREEMENT
NO
LATER THAN JULY 9
    * ISSUES 2021-2024 BUSINESS PLAN 
    * UNDER NEW BUSINESS PLAN, COMPANY EXITS UTILITY SECTOR AND
CONSOLIDATES ITS POSITION IN GREENTECH DIGITAL SOLUTIONS
DIVISION
    * UNDER NEW BUSINESS PLAN, TO COMPLETE ALIENATION OF
NON-STRATEGIC
ASSETS STILL IN PORTFOLIO BY DEC. 31
    * FOR 2021 ONLY, NEW BUSINESS PLAN INCLUDES GENERAL
CONTRACTOR
SERVICE IN CONTEXT OF ENERGY UPGRADING OF BUILDINGS (SUPERBONUS
110%)
    * IMPLEMENTATION OF NEW BUSINESS PLAN TO START IN H2 
    * ISSUES FY RESULTS, WITH REVENUE EUR 19.2 MLN VS EUR 18.2
MLN
YEAR AGO 
    * FY EBITDA LOSS EUR 0.8 MLN VS LOSS EUR 8.4 MLN YEAR AGO 
    * FY NET LOSS EUR 6 MLN VS LOSS EUR 33.4 MLN YEAR AGO 
    * ISSUES TERNIENERGIA 2019 FY RESULTS, WITH REVENUE EUR 18.2
MLN
VS EUR 24.5 MLN YEAR AGO
    * 2019 EBITDA LOSS EUR 8.4 MLN VS PROFIT EUR 1.7 MLN YEAR
AGO 
    * 2019 NET LOSS EUR 33.4 MLN VS LOSS EUR 10.1 MLN YEAR AGO

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA9FXQJ
    
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