Brief: Enertronica H1 Production Value Down At EUR 26.2 Mln, Sees Recovery In Turnover From 2019

Enertronica Santerno SpA

23/11/2018 09:46

Nov 23 (Reuters) - ENERTRONICA SpA  ENER.MI :
    * REPORTED ON THURSDAY H1 PRODUCTION VALUE OF 26.2 MILLION
EUROS
VERSUS 45.4 MILLION EUROS A YEAR AGO
    * H1 NET LOSS WAS 6.5 MILLION EUROS VERSUS PROFIT OF 1.5
MILLION
EUROS
    * H1 RESULT IMPACTED BY, AMONG OTHERS, CONSTRUCTION CONTRACT
IN
NEVADA WHICH RESULTED IN A LOSS OF C. 3.5 MILLION EUROS AND
PERFORMANCE OF ENERTRONICA PANAMA  urn:newsml:reuters.com:*:nL8N1WA0PK
    * SIGNED WITH CARRARO SPA  CARRA.MI  AND CARRARO
INTERNATIONAL SE
INVESTMENT CONTRACT FOR 4.1 MILLION EUROS CAPITAL INCREASE TO BE
CARRIED OUT BY CONFERRING A 49 PCT STAKE IN ELETTRONICA SANTERNO
TO ENERTRONICA SPA
    * BOARD APPROVED MERGER BY INCORPORATION OF UNIT ELETTRONICA
SANTERNO SPA INTO ENERTRONICA SPA
    * MERGER WILL RESULT IN NEW GROUP STRUCTURE, CO WILL MOVE
ITS
REGISTERED OFFICE TO CASTEL GUELFO (BO) AT THE CURRENT
HEADQUARTERS OF ELETTRONICA SANTERNO 
    * AFTER MERGER CO WILL CHANGE ITS NAME TO ENERTRONICA
SANTERNO SPA
    * CAPITAL INCREASE WILL BE EXECUTED IN 2018, WHILE THE
MERGER WILL
TAKE PLACE WITHIN THE FIRST FEW MONTHS OF 2019
    * AFTER CAPITAL INCREASE, NTS WILL HOLD A 30.09 PCT STAKE IN
ENERTRONICA SPA WHILE THE CARRARO GROUP WILL HOLD A 27.86 PCT
STAKE 
    * APPROVED BUSINESS PLAN 2019-2022 
    * SEES RECOVERY IN TURNOVER FROM 2019
    * SEES FY 2018 TOTAL SALES OF 38 MILLION EUROS, FY 2019
TOTAL
SALES OF 83 MILLION EUROS AND FY 2022 TOTAL SALES OF 144 MILLION
EUROS
    * SEES FY 2018 EBITDA NEGATIVE OF 6.5 MILLION EUROS, FY 2019
EBITDA POSITIVE OF 7.1 MILLION EUROS AND FY 2022 POSITIVE OF
12.2 MILLION EUROS
    * BUSINESS PLAN 2019-2022 ENVISAGES, AMONG OTHER THINGS,
GRADUAL
EXIT FROM CONSTRUCTION SECTOR FOR THE BENEFIT OF INDUSTRIAL
PRODUCTION ACTIVITIES FOR RENEWABLE ENERGY AND INDUSTRIAL
AUTOMATION SECTORS
    * BUSINESS PLAN WILL BE PRESENTED TO THE MARKET IN DETAIL IN
JAN.
2019
    * SIGNED A CONTRACT FOR THE SUPPLY OF INVERTER FOR THE
LARGEST
PHOTOVOLTAIC PLANT IN LATIN AMERICA FOR ABOUT 500 MW

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA7dMCrW
    
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