Brief: Otovo Provides Update On Italian Subsidy Scheme

Otovo ASA

11/04/2023 06:42

April 11 (Reuters) - Otovo ASA  OTOVO.OL :
    * UPDATE ON ITALIAN SUBSIDY SCHEME
    * ITALIAN GOVERNMENT CLARIFIED THAT PROJECTS WHERE
PRE-PAYMENT WAS
EFFECTUATED PRIOR TO PROPOSAL OF LAW, WILL QUALIFY UNDER OLD
PROVISIONS WHERE CONSUMER COULD SELL TAX CREDITS THEY ASSUME TO
A THIRD PARTY
    * FOR OTOVO THIS MEANS THAT PIPELINE OF PROJECTS SOLD BUT
NOT
INSTALLED BEFORE 16 FEBRUARY WILL BE COMPLETED ON SAME TERMS
    * Q1 INSTALLATIONS WILL NOT BE MATERIALLY AFFECTED BY
ITALIAN
REGULATORY CHANGE
    * UNCERTAINTY BORNE BY CONSUMERS HAS AFFECTED SALES
SUBSTANTIALLY
FOR TWO MONTHS
    * UNDERLYING CONSUMER INTEREST REMAINS STRONG AND SALES HAVE
STARTED TO REBOUND
    * PIPELINE IS FULLY DERISKED AND WILL BE INSTALLED AS
PLANNED
    * SALES SHOULD START TO RETURN TO LEVELS SEEN PRIOR TO THESE
UNEXPECTED CHANGES

Source text for Eikon:  ID:nObiwV2fta 
Further company coverage:  OTOVO.OL 

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