BLUENERGY GROUP: FOR 2021, TURNOVER INCREASES TO € 416 MILLION

Turnover +21% compared to the previous year. The Financial Rating goes from A3.1 to A2.2.

Bluenergy continues its growth path closing the 2021 balance sheet with consolidated revenues of 416 million euros compared to 344 million in the previous year (+21%) and an increase in the customer base of 17% compared to 2020.

The positive results of the fiscal year just ended have contributed to an increase in the Cerved Rating Agency SpA financial rating -an Italian agency specializing in the credit assessment of non-financial companies- from A3.1 to A2.2, among the highest in the industry.

The gradual diversification, particularly, of the Group’s Tech business over the last three years, an operational cash flow (higher than in the most recent financial year ended on June 30, 2021) and a free cash flow that is widely anticipated to be positive for 2022 have all contributed to the upgrade of Bluenergy’s rating.

The significant increase in turnover was possible thanks to the expansion of the customer base and the double-digit increase in volumes sold, both in the gas sales sector (+20%) and in electricity (+22%). Fundamental also the contribution of the technical societies – Rettagliata Tech and Bluenergy Assistance – both in the services post-meter collateral to the sale of the commodities (heat management), and in the field of the energetic requalification, to which are added services related to the electric mobility market.

The Group’s EBITDA increased from € 28.4 million in 2020 to € 32.1 million this year. The Group has made investments that have included company acquisitions, digital transformation initiatives, and the completion of the Customer Relationship Management project, which was launched in 2018 and operational since 2020. This project has improved customer relationship processes by accelerating response times and enhancing customer centricity.