Innovatec, with its 2022-2024 Development Plan, focuses on greater integration of the three businesses managed: Environmental Services and Circular Economy, Energy Efficiency and Innovation and Consultancy. The Group’s objective will be to develop the offer of end-to-end services in terms of circularity and sustainability with a wide range of concrete and innovative projects capable of intercepting the funding opportunities of the NRP.
«We have set up the Business Plan with a logic of great pragmatism, taking into account that we have allocated resources, 12 million euros, for acquisitions. Before looking abroad we have a lot to do in our home and in doing this we know that we will accumulate experience »said yesterday Elio Catania, president of Innovatec, during the presentation of the Plan.
The Environmental Services and Circular Economy business will be driven both by organic growth with an increase in the customer base and improvement of plant engineering to support the business, to the expansion of the range of services supported by innovative investments in treatment and recycling plants as well as to implementation of consortium management to other classes of waste both from growth by external lines (M&A).
The Energy Efficiency area will be driven both by the growth of the Green House project with an increase in market shares to which the public housing and hotel sectors will be added, and in B2B with the increase in EE projects on industrial plants, creation of energy communities, implementation of new vertical technologies to reduce emissions as well as construction of photovoltaic systems in EPC turn Key mode.
Coming to the main economic and financial data, the group’s revenues in 2024 are expected to reach 405 million (+244 million vs 2020 pro forma inclusive of COBAT, acquired last December), of which 205 million from the Environmental Services and circular economy business and 200 million from the Energy Efficiency business. The Houseverde Project alone in 2024 will contribute 135 million to revenues.
To support this Development Plan, total gross investments of 59 million are envisaged, of which 47 million for Capex operating in the field of Environmental Services and circular economy and 12 million focused on acquisitions of companies that own collection, treatment and recycling plants. of waste. The ESG Science Based Target operational investments envisaged a
plan amounted to 26 million (55%).
The 2021 forecasts see pro forma results – including the contribution made by COBAT – growing with revenues of 222 million, Ebitda of 30 million and Ebit of approximately 10 million.
“The 2022-2024 Plan is self-liquidating – Catania said -. The robust cash generation deriving from the integrated business partially offset by the decisive acceleration on the investment front, consolidates a balanced financial structure and a free cash flow to equity of 15 million by 2024 which will allow us to maintain a constructive outlook over the course of the plan in the M&A market and in case of interesting opportunities, intensify the strategy of vertical acquisitions or decide to offer our shareholders a dividend policy ».