Egm x-rayed: eViso returns to profit and pays dividend
The energy company went from a net loss of EUR 1.2 million to a net profit of EUR 4.9 million in the year to the end of June. The dividend amounts to EUR 0.045 per share
6' min read
Key points
6' min read
Many will remember the funny TV commercial in which a group of citizens save the production of the local brewery, where the power went out, by pedalling to generate electricity. Something similar, but for their own use, is now also possible in Italy thanks to the eViso Giro technology, with which the company's customers can store the energy generated during sporting activities and 'transform' it into electricity. However, this energy must be measured using the Health & Fitness Strava app via Garmin and Samsung devices, and of course download the Easy My eViso app released at the beginning of May. The sports activities that can be converted into electricity to be discounted in the bill are cycling, running, walking, indoor rowing, swimming and indoor cycling.
The numbers
.eViso, however, did not limit itself to selecting a specific retail customer segment (after the end of the majority protection service for the electricity market last 1 July), but in the financial year ending 30 June 2024, against substantially stable revenues (-0.3% to EUR 224.3 million) managed to significantly increase profit margins and also to distribute a dividend to shareholders.
The gross margin jumped from EUR 6.8 million to EUR 18 million, the ebitda from EUR 2 million to EUR 11 million, and it went from an operating loss of EUR 269,000 to an operating profit of EUR 7.5 million and from a net loss of EUR 1.2 million to a net profit of EUR 4.9 million. The dividend amounted to EUR 0.045 per share, payable as of 6 November 2024, and resulted in a pay-out of 22.5% (total dividend payout of about EUR 1.1m).
Obviously, it should be noted that this performance was greatly facilitated by the significant reduction in the cost of raw materials (energy), which fell by 38.3% to EUR 113.1 million, while, on the other hand, the cost of services almost tripled from EUR 37 million to EUR 96.8 million, almost entirely referring to transport costs, which jumped from EUR 32 million to EUR 55.6 million. The prevailing activity is the resale of electricity to resellers, currently 94 in number (they represent 13.1% of the 717 free market sales operators included in the List of Electricity Sellers drawn up by Mase).
Revenues from this category rose by 13.3% to EUR 118.4 million, but those from the direct channel (retail customers) fell by 11.5% to EUR 66.7 million, and revenues from electricity trading, also in relation to market price trends, fell by 50.6% to EUR 12.5 million. For the time being, the other activities are residual but, in any case, turnover from the sale of natural gas through the direct channel more than doubled from 1.8 to 3.8 million and that from ancillary services and big data jumped by 74% to 6.9 million (but the gross margin decreased by 6% to about 1 million).
