BREAKING NEWS – 23.07.2024

In the press release dated July 17, 2024, Altea Green Power, active in the development of renewable energy production plants and as a service integrator during all phases of the implementation and management of green plants, announced that the ordinary shareholders’ meeting approved the following key points for the future of the Group: • The project for admission to listing on the regulated Euronext Milan market and possibly the Euronext STAR Milan segment. • The appointment of the new Board of Directors. • The appointment of the new Board of Statutory Auditors. • The granting of a nine-year legal audit assignment effective upon the start of trading on the regulated market. • The adoption of a new company Bylaws effective upon the start of trading on the regulated market. • The amendment of Article 16 of the company Bylaws. Central to the developments is the approval of the project to list ordinary shares and Altea Green Power 2022-2024 warrants on Euronext Milan or the Euronext STAR Milan segment, should the necessary conditions exist. This will entail submitting the necessary applications to Borsa Italiana SpA and Consob: the Assembly delegated the Board of Directors, particularly the Chairman of the Board of Directors with the possibility of sub-delegation, with all necessary powers to execute this resolution. The Board of Directors finally reviewed the preliminary operating data for the first half of 2024, highlighting significant growth in all economic indicators. The value of production stands between € 13.50 and € 14.00 million, an increase of over 33.0% compared to € 10.10 million as of 1H23A. EBITDA reached between € 7.50 and € 8.00 million, marking an increase of over 44.0% compared to € 5.20 million for the same period in 2023, with an EBITDA Margin exceeding 55.0%. In conclusion, the Assembly marked an important step forward for the Company. The continuous growth of economic indicators and the expansion of projects in the renewable energy sector consolidate Altea Green Power’s positioning as a key player in the Italian and international energy market. We confirm our recommendation: target price €14.30, rating BUY, risk MEDIUM.

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