Altea Green Power S.p.A.
On 28 January 2022, Altea Green Power S.p.A. announces that it has received today from Borsa Italiana the order for the admission of the Company’s Ordinary Shares and Warrants on “Euronext Growth Milan”, a multilateral negotiations system organized and managed by Borsa Italiana. Negotiations began on 01 February 2022.
The total equivalent of the resources collected through the placement is equal to Euro 4,993,220.
The enterprise Altea Green Power S.p.A. is a company active in the development and construction of plants for the production of energy in respect of the environment and as a “service integrator”, targeting its capabilities to individuals, companies, entities, and investors who want complete assistance during all phases of construction and management for a wide range of plant types, in particular in the photovoltaic, wind, cogeneration, biomass, storage and energy efficiency sectors, thus contributing to the reduction of pollution.
Ultima Ricerca Altea Green Power S.p.A.
UPDATE| As of 30 June 2026, Convergenze recorded a value of production of € 13.21 mln, up 3.5% compared to € 12.75 mln in 1H25A, thanks to the positive contribution of both Business Units, TLC and Energy. Adj. EBITDA stood at € 1.97 mln, slightly down from € 2.18 mln in 1H25A, with an Adj. EBITDA margin of 14.9% (17.1% as of 30 June 2025), reflecting the higher incidence of procurement costs in the Energy BU. Reported EBITDA came in at € 1.94 mln (€ 2.11 mln in 1H25A), with a margin of 14.7%. Consequently, EBIT, after depreciation and amortization of approximately € 1.03 mln, amounted to € 0.91 mln (€ 1.03 mln in 1H25A), while net income remained positive at approximately € 0.41 mln, compared to € 0.49 mln in the comparative period. In light of the results published in the 1H26A half-year report, we have slightly revised our estimates for both the current year and the coming years. We estimate a value of production for FY26E of € 27.20 mln and EBITDA of € 4.47 mln, corresponding to a margin of 16.4%. For the following years, we expect the value of production to increase to € 31.20 mln (CAGR 25A-28E: 6.4%) in FY28E, with EBITDA of € 5.95 mln (corresponding to a margin of 19.1%), up from € 3.73 mln in FY25A (corresponding to an EBITDA margin of 14.4%). On the balance sheet side, we estimate a net debt position of € 0.18 mln for FY28E. We conducted the valuation of Convergenze’s equity value based on the DCF methodology and on the multiples of a sample of comparable companies. The DCF method (which, for prudential purposes, also includes a specific risk premium of 2.5% in the WACC calculation) returns an equity value of € 32.00 mln. Convergenze’s equity value based on market multiples is € 29.47 mln. This results in an average equity value of € 30.73 mln. The target price is € 4.10, with a BUY rating and MEDIUM risk. |
