{"id":24639,"date":"2024-05-09T16:23:01","date_gmt":"2024-05-09T14:23:01","guid":{"rendered":"https:\/\/integrae.it\/?p=24639"},"modified":"2024-05-09T16:23:02","modified_gmt":"2024-05-09T14:23:02","slug":"breaking-news-09-05-2024","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/research\/breaking-news-09-05-2024\/","title":{"rendered":"BREAKING NEWS – 09.05.2024"},"content":{"rendered":"\n

In the Press Release of May 6, 2024, Altea Green Power, a company active in the development of renewable energy generation facilities and as a service integrator during all phases of the construction and operation of green plants, announced that the Board of Directors has reviewed its management data for the first quarter of 2024.\u00a0

The value of production in the first quarter of 1Q24A stood at between \u20ac9.50 million and \u20ac10.00 million, marking a 90.0% increase over the reported figure of \u20ac5.00 million as of March 31, 2023. EBIT ranges between \u20ac 6.50 million and \u20ac 7.00 million, registering an exponential growth of 150.0% compared to the figure of \u20ac 2.60 million for the first quarter of the previous fiscal year. Consequently, EBIT margin also shows a solid improvement reaching 65.0%, compared to the figure for 1Q23A of 51.4%.

The excellent consolidated results achieved by the Company as of March 31, 2024, are mainly attributable to the progressive advancement of the Co-Development Agreement for 9 BESS plants, signed on March 21, 2024 by Altea Green Power with a North American investment fund.
Net Financial Position stands at \u20ac 0.70 million cash negative, compared to \u20ac 4.40 million cash negative as of December 31, 2023. The improvement noted can be attributed to increased cash and cash equivalents, which amounted to \u20ac 3.50 million, compared to \u20ac 0.50 million as of December 31, 2023, secured by the signing of the co-development agreement with the North American fund for the sale of the subsidiaries Green and Blue BESS Srl, and the subsequent collection of \u20ac 4.50 million.\u00a0

The Company also reports that the order backlog as of March 31, 2024 increased by approximately 114.0 % compared to the same period in 2023, exceeding the value of \u20ac 150.00 million.

As result of the significant growth in the consolidated economic data as of March 31, 2024, the steady positive development of Altea Green Power, which is getting closer and closer to achieving the goals set out in the 2024-2028 Business Plan, is evident. The development of the Company is supported by the pipeline of projects under execution, among which the recent signing of the Co-Development contract for 9 BESS plants proves to be one of the main drivers of the excellent results recorded in the first quarter of 2024.\u00a0

In light of the significant growth observed already in early 2024, we reaffirm our positive view regarding the security, confirming our recommendation: target price \u20ac 14.30, rating BUY, risk MEDIUM.<\/strong>



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In the Press Release of May 6, 2024, Altea Green Power, a company active in the development of renewable energy generation facilities and as a service integrator during all phases of the construction and<\/p>\n","protected":false},"author":5,"featured_media":17442,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,252],"tags":[169],"class_list":["post-24639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-breaking-news-en","tag-altea-green-power-en"],"acf":[],"yoast_head":"\nBREAKING NEWS - 09.05.2024 - integrae.it \u2013 Financial Boutique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/integrae.it\/en\/research\/breaking-news-09-05-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING NEWS - 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