Shareholders’ meeting approves half-yearly report 2022: revenues of 2 million euros and operating margin up.

Revenues of 2 million euros, an increase of 1.2 million over the same period in 2021, as well as the new definition of innovative SME and the start of the transformation path into a joint stock company. These are the results and news from the first six months of fiscal 2022 for White Energy Group, a company specializing in consulting, implementation, and support for companies aiming for energy efficiency and savings, based in Verona and Cagliari.

The shareholders’ meeting met in recent weeks and reviewed and approved the 2022 half-year situation: “The economic result is attributable to an increase in the sale of all the company’s services. White Energy offers its clients consulting services (Orange, White, and Blue) and operates in the field of directly financed interventions with EPC (Energy Performance Contract) formula and developed with special purpose vehicles (Green initiatives),” comments the group’s CEO, Gianluigi Mele.

“The company continues to implement the strategic lines approved in June 2021, with an expansion of the business lines to include energy efficiency services and the offering of services on renewable energy in ESCo mode,” Mele emphasizes, “in tune with the company’s new mission, which aims to accompany companies on their path to sustainability. The services are offered under the main contractual formulas in the industry today: energy performance contract models and Power Purchase Agreements for the supply of energy from photovoltaic plants.

In line with its strategic objectives, the company also aims to create the conditions to facilitate, in the near future, the entry of investors and lenders, in direct investments made through Green initiatives. Thus the audit to which the financial statements for the year ended December 31, 2021 (revenues of 2.8 million euros and a profit of 192,000 euros) were subjected ended with the recognition, last May 31, of the status of innovative SME.

Not only that. The shareholders’ meeting also gave the Board of Directors an exploratory mandate to consider the transformation of White Energy Group Srl into a Joint Stock Company.

“One of the strong reasons connected with this choice,” says Ad Mele, “is to strengthen our capital structure vis-à-vis the credit system and investors. In addition, the transformation would consolidate the Group’s structure, which sees White Energy’s participation in three special purpose vehicles: two of these (GES srl and Energia Futura srl) build cogeneration plants for the supply of electricity and thermal energy for important industrial realities; the third (GHS srl), wholly owned by White Energy, is intended to manage direct investments in photovoltaics, made with the new Green Solar PPA product.”

Finally, the transformation into a joint stock company would make it easier to adopt an incentive plan to increase the sense of ownership of the project and tie employees to the success of the company, in view of the goals to be achieved. “We are convinced,” Mele concludes, “that it will be the convergence of the interests of shareholders and management, in the medium to long term, that will ensure White Energy’s growth.