Convergenze /30.12.2020
30/12/2020
On 28 December 2020, Convergenze S.p.A. obtained admission to negotiate ordinary shares on AIM Italia, a multilateral negotiations system organized and managed by Borsa Italiana.
Negotiations began on 30 December 2020.
Integrae SIM acted as Nomad, Global Coordinator, and Issuer Specialist.
During the placement phase, Convergenze raised 2.8 million euros, of which 0.3 million euros were reserved for the fiscal year of the greenshoe option in the capital increase. The free float at the time of admission is 21.5% and the capitalization is approximately equal to 12.3 million euros, assuming the full fiscal year of the greenshoe option.
The enterprise of Convergenze S.p.A. Società Benefit is a nationally active integrated technology operator in the Telecommunications, Energy, and E-mobility sectors with the EVO (Electric Vehicles Only) network. It is based, operational and legal, in Capaccio Paestum, in the province of Salerno.
Ultima Ricerca Convergenze /30.12.2020
BREAKING NEWS| In the press release dated 31 July 2025, Convergenze SpA Società Benefit and B-Corp – an integrated technology operator active in the 100% green Telecommunications and Energy sectors, with nationwide presence through its patented EVO (Electric Vehicle Only) network and proprietary fibre optic infrastructure based on the innovative XGS-PON technology, and listed on the Euronext Growth Milan market – announced its unaudited management results as of 30 June 2025, along with a selection of key corporate KPIs. The first half of 2025 closed with revenues of approximately €12.60 million, up by +3.4% compared to €12.20 million in the same period of 2024. Although more moderate than the +15.3% growth recorded in 1H2024, the increase reflects the ongoing consolidation of the integrated business model and a solid ability to strengthen positions in core markets. In detail: The TLC Business Unit generated revenues of €5.60 million, stable compared to 1H2024 (€5.60 million), confirming the resilience of the customer portfolio; The Energy Business Unit reported revenues of €7.00 million, up by +9.0% versus €6.50 million in 1H2024, driven by both an increase in the cost of raw materials and organic growth in contracted volumes. As of 30 June 2025, total contracted services exceeded 67,000, of which over 55,700 were attributable to the TLC Business Unit (+4.1% compared to 53,500 in 1H2024) and more than 11,200 to the Energy Business Unit, representing a slight decline of -2.3% versus 11,400 in the previous year. These trends reflect, on the one hand, the increase in energy raw material costs, and on the other, the organic expansion of the customer base. The proprietary fibre optic network exceeded 12,000 km (+13.5% compared to 10,600 km in 1H2024), confirming the Group’s ongoing infrastructure development efforts. The share of users served via proprietary FTTH and Wi-Fi networks also increased, rising to 52.3% from 50.3% a year earlier. This represents tangible progress in continuing investment activities and the effectiveness of measures undertaken to enhance infrastructure autonomy, in line with long-term strategic objectives. Active Points of Delivery (PODs) totalled over 9,700, broadly in line with the more than 10,000 recorded in 1H2024, while volumes of energy sold reached 19.70 million kWh, marking an increase of +12.8% compared to 17.50 million kWh in the same period of 2024. Compared to 1H2023, the growth in volumes sold stands at +29.6%, highlighting a structurally positive trend. On the profitability front, the TLC Business Unit maintained a stable margin in the 29.0%–30.0% range, while for the Energy Business Unit, management estimates a margin between 6.0% and 7.0%. Although this reflects a decline compared to the 8.0%–9.0% range estimated in 1H2024, it represents an improvement over 2023 figures. The launch of the new mobile service “SIMON” at the end of June represents a further strategic step aimed at strengthening brand awareness and expanding business lines. Overall, the data confirm the soundness of Convergenze’s integrated and sustainable growth model, as the company continues to enhance its infrastructure and consolidate its presence in the national market. The resilience of Convergenze’s core business lines, supported by the continued expansion of its fibre optic network, the steady increase in proprietary network penetration, and the stability in the number of PODs, confirms the strength of the company’s growth trajectory. In light of the 1H2025 management results, we confirm our recommendation: Target Price €4.50, Rating BUY, and Risk Medium. |
