Audax Group. An excellent first quarter of 2023

Audax Group. An excellent first quarter of 2023

May 2023. The numbers for this first quarter demonstrate how the actions undertaken by the Group in previous years - which we know were marked by market volatility - are giving extremely positive results. A fact which, in light of events such as the conflict in Ukraine or the aftermath of the pandemic, takes on particular importance.

Between January and March there was a growth of 18% of the Net income (reached 2.39 million euros), but above all of 41% of the gross margin (which reached 50.9 million euros) and of 47% of theEBITDA (arrivato a 23 milioni di euro) rispetto al Q1 2022. Il risultato relativo al margine lordo è riconducibile principalmente alla rapida ripresa dei mercati del resto d’Europa, raccogliendo così i frutti delle misure attuate nel 2022, come l’uscita dal mercato del gas in Polonia e l’aumento della redditività in Ungheria e Olanda. Quello dell’EBITDA è dovuto al miglioramento dei risultati del resto d’Europa e alle scelte pensate per garantire un gross margin nella penisola Iberica, anche in scenari di calo dei prezzi.

The sales and instead, decreased of the 5%, a seguito della riduzione dei prezzi sui mercati elettrico e del gas. L’evoluzione delle valute nei mercati del resto d’Europa, in particolare in Ungheria, è stata sfavorevole per il risultato finanziario comparato.

Audax ha continuato nell’attività di sviluppo, costruzione e messa in servizio del proprio portafoglio di generazione, nonostante i ritardi nell’espletamento delle procedure amministrative da parte di alcuni enti. In questo periodo è proseguito il piano di investimenti previsto nei diversi progetti fotovoltaici in portafoglio. Ad oggi si contano 245 MW of installed power (+9%).

Nel primo trimestre 2023 il bilancio del Gruppo, sia per effetto dell’accordo in Spagna con Shell, sia per le strategie messe in atto nel resto dei Paesi europei in cui il Gruppo opera, ha evidenziato un sostanziale miglioramento rispetto allo stesso periodo del l’anno scorso.

An excellent first quarter of 2023

Audax and technology. Open, pragmatic and secular approach

Audax and technology. Open, pragmatic and secular approach

Giorgio Carzedda, Debt Collection Department, explains Audax Renewables' attitude towards technology in an interview for WoW Tech, the Timenet podcast dedicated to ICT and Digital.

[Listen to the episode on Spotify]

 D. Hi Giorgio, tell us about Audax Renewables and its approach to business and the market…

 R. I work at Audax Renewables Italia, a company that – as the name suggests – supplies renewable 100% energy to the Italian market. We were born in 2014, but our history is linked to that of a Spanish energy group - Audax Renovables - which deals not only with selling but also producing electricity from photovoltaic and wind power.

I'll give you some numbers to better understand our reality: we are present in 9 countries, we supply electricity and gas to over 400 thousand customers - mostly SMEs and industry - for a turnover that exceeded 2 billion euros in 2022. On the renewable generation side, our pipeline is over 2,500 MW.

The history of the Audax Group is that of a company that has achieved important results in a rather short period of time and in a market - the energy market - which is essentially immobile, in which it is difficult to enter and carve out a significant space, considering the presence of operators who they enjoy ten-year position incomes.

In my opinion Audax achieved this through a combination of elements. First of all, a pragmatic and agile entrepreneurial attitude capable of seizing opportunities without delay, when they arise. Then thanks to the foresight of having focused on the development of clean and renewable sources and offered customers innovative supply solutions different from those of the competition. Finally, an attitude that I would define as "resilient" has allowed us to face critical events or periods thanks to a flexible and dynamic adaptation approach, so as to find balance in a short time and continue with our plans without excessive upheavals. We have learned to do this in these rather complicated years: the Covid-19 pandemic, the subsequent economic crisis and the consequences of Russian aggression in Ukraine on the energy market.

 

D. Bene, abbiamo capito che un’azienda come Audax Renewables negli ultimi anni si è molto evoluta… Ma che rapporto ha l’azienda con la tecnologia?

 

R. A "secular" relationship, open, curious and pragmatic. We are aware that without it it would be difficult to grow, generate profit and look forward. Technology, on the other hand, “informs” every aspect of the company and its business. There is, first of all, the one that governs the production of photovoltaic and wind energy (from solar panels to wind turbines, with everything behind it). A technology that required large investments of time, men and economic resources in Research & Development and which today we know is increasingly performing and efficient, even in terms of costs.

Then there is the widespread nature of digitalisation which has revolutionized company processes - streamlining them, automating them, integrating them with each other - and which has allowed us to increase productivity, reduce errors and plan choices better.

Very useful for the normal carrying out of current activities within the company, it has literally transformed the customer care, with a series of initiatives that were unthinkable just a few years ago and through which we follow and support our customers ever more closely.

The building blocks of this transformation are both the various and most advanced management software on the market and computer programs built specifically to meet our needs.

On the customer side, we cannot fail to mention the mobile application - with all the services it contains, starting from the personal management of your contract - and the entire range of remote assistance services, real and virtual, instant messaging and payment (up to to PagoPA).

 

D. How do you imagine the future of TLC in the company?

 

R. We cannot help but believe in an ever-increasing integration of TLC into processes. For example, considering only the area of debt collection in which I operate on a daily basis, the contribution of technology was fundamental in achieving an improvement that was both measurable and long-lasting.

Furthermore, we are awaiting - probably at the beginning of April - the release of dedicated software, built not only to speed up processes (such as reminders, reminders, suspension), but also to make them more accurate and precise. Characteristics, the latter indispensable in a "sensitive" area such as debt collection.

 

D. Hai un avvenimento “di colore” da raccontare..? Cosa hai trovato e come la quotidianità e i processi sono cambiati da quando sei dentro l’azienda?

 

R. Let me think... We were at the beginning and as pioneers we first had to put up a "flag" to mark the boundaries of our territory and then worry about giving it a complete shape. In that initial phase, I remember a few trips to the post office near our Turin headquarters loaded with paper envelopes containing the "formal notices" printed one by one and bagged...

A heroic, but fortunately short, period before technology came to our rescue, freeing up precious time! 

2022. Un anno con il segno “+” per Audax Renovables

2022. Un anno con il segno “+” per Audax Renovables

March 2023. Forte dell’integrazione verticale tra generazione di energia 100% rinnovabile e fornitura di elettricità e gas, il Gruppo Audax è stato in grado di gestire con successo l’alta volatilità dei mercati energetici a livello globale, segnati – come noto – dal conflitto in Europa orientale e dall’aumento del prezzo delle materie prime.

Le misure di ottimizzazione del business messe in atto durante l’anno, la politica di diversificazione dei mercati e l’aumento del 9% della nuova potenza installata (che ha raggiunto i 245 MW) si sono tradotti in una crescita del 17% of gross margin (144 million euros) and of 16% of EBITDA (54 million euros). The Net income reached i 7.8 million of euros, a return to the positive sign after the loss of 3.3 million in 2021.

 

Audax increased the weight of the generation nel suo contributo all’EBITDA, passando dal 27% nel 2021 al 42% nel 2022; si tratta di un risultato frutto dell’impegno per un business verticalmente integrato che scommette sulla generazione di energia rinnovabile al 100%. L’EBITDA in generazione è aumentato consistentemente rispetto alla chiusura del 2021 in conseguenza della maggiore potenza installata e del più alto prezzo di vendita.

Questo EBITDA di generazione proviene da un portafoglio valutato – alla fine dell’anno scorso – 129 milioni di euro da un soggetto indipendente; nel portafoglio restano 130 milioni di euro di attivo che non generano EBITDA perché non è ancora partita la fase operativa. Un dato che evidenzia il grande potenziale dell’attività di generazione del Gruppo.

 

For what concern gross financial debt, the company managed to reduce its debt level by 130 million euros, placing it at 642 million euros and consolidating its financial position in order to continue its Road map di sviluppo di progetti e di far fronte alle scadenze a breve termine. Quale risultato delle politiche di gestione della liquidità e della gestione del capitale, l’azienda ha generato 152 milioni di flusso di cassa operativo, stanziando un totale di 45 milioni per nuovi investimenti e 146 milioni per ridurre il debito.

In un bilancio pro-forma, se la recente operazione di Market Access con Shell Energy Europe Limited in Spagna avesse avuto un impatto su tutto l’esercizio 2022, Audax avrebbe generato circa 50 milioni di euro aggiuntivi di flusso di cassa.

 

Audax continues to make progress in its organic and inorganic growth policy, which has allowed it to increase 14% supply points over the last four years, reaching 387,000 today and having provided a total of 13 TWh of energy. Nell’ultimo anno, a causa dell’evoluzione dei mercati e dei rischi derivanti dalla volatilità, l’azienda ha concentrato i suoi sforzi sul rafforzamento della redditività, mettendo in atto misure orientate alla diversificazione del portafoglio e alla mitigazione del rischio in tutti i Paesi in cui opera. In questo senso, ha ridotto del 25% i punti di fornitura e del 15% il volume di energia fornita rispetto all’anno precedente, il che si è tradotto in un’evoluzione positiva sia del suo margine lordo che dell’EBITDA. Oggi, i punti di fornitura di elettricità rappresentano l’80% del totale e i punti gas il restante 20%.

The markets in cui l’integrazione verticale è più implementata (principalmente nell’Europa meridionale), sono quelli che hanno avuto le migliori prestazioni durante questo esercizio. Osservando a seconda del Paese, l’Ungheria ha il maggior peso in elettricità, rappresentando il 45% dell’energia totale fornita dal gruppo, mentre per il gas, i Paesi Bassi sono in testa con il 52% del totale. L’area della Penisola Iberica, d’altra parte, rappresenta praticamente un terzo del totale, in entrambe le materie prime.

The main target rimane l’industria, che rappresenta il 93% del suo portafoglio totale. Il cliente domestico durante l’esercizio 2022 ha ridotto il suo peso dall’11% al 7%, risultato degli sforzi compiuti per avanzare nello storico segmento target dell’azienda, ovvero le PMI.


Globally, the Audax production during 2022 it was 258 GWh (se si considera Panama), per un aumento del 29% rispetto all’anno precedente. La produzione sul mercato spagnolo è cresciuta significativamente (70%) come risultato del contributo di nuovi impianti fotovoltaici, che hanno aggiunto 90 GWh.

Per quanto riguarda l’evoluzione dei progetti e a seguito del rispetto degli obiettivi contenuti nel RDL 23/2020 in Spagna, il portafoglio del Gruppo Audax si trova – alla data di pubblicazione di questa nota – a 1,4 GW. La società continua ad avanzare nelle sue operazioni di sviluppo e costruzione previste, iniziando i lavori di 26 MW e mettendo in funzione 19 MW fotovoltaici.

The Group has projects for 141 MWp at a very advanced stage with a favorable environmental impact statement (DIA) and for another 323 MWp in a state very close to the so-called "Ready to Build". To these, 26 MWp under construction and 245 MW already in operation must be added.


Durante il 2022, l’azienda ha rafforzato la sua direzione strategica e la gestione della sostenibilità con l’obiettivo di continuare a fare progress on ESG. Il Consiglio di Amministrazione ha approvato la nuova politica di sostenibilità e ha introdotto in azienda una figura professionale che sarà responsabile dello sviluppo e dell’esecuzione.

The strategy is structured around the three ESG pillars, namely environmental, social and governance sustainability. On this basis, actions and initiatives capable of leading to concrete improvements in performance have been defined and, over time, will continue to be defined.

 

For José Elias, presidente di Audax Renovables, “siamo stati in grado ancora una volta di affrontare con successo un anno in cui il mercato ci ha messo alla prova. La nostra solida strategia per la generazione di energia rinnovabile e l’ottimizzazione del portafoglio clienti, unita al raggiungimento di importanti accordi strategici con partner di alto livello, ci permetteranno di aumentare ulteriormente la competitività di Audax”.

Audax Renovables: strategic agreement with Shell

Audax Renovables: strategic agreement with Shell

February 2023 | Audax Renovables has signed a strategic agreement with Shell Energy Europe Limited for the supply of electricity and gas in Spain. In this way, Audax ensures, at the same time, a competitive supply of electricity and gas and the strategic advantage of sustainable and profitable growth.

L’accordo garantisce ad Audax maggiori possibilità di un futuro e diretto accesso al mercato all’ingrosso, migliorando immediatamente la posizione di cassa e aumentandone la competitività, così da offrire una differenziazione di prodotto ai propri clienti.

Inoltre, l’intesa siglata dà ad Audax Renovables anche un nuovo impulso per raggiungere gli obiettivi del proprio piano strategico basato sull’integrazione verticale delle attività di generazione e fornitura e su una solida posizione finanziaria.

For José Elías, president of the Audax group, “questa partnership dimostra l’impegno incrollabile dell’azienda nei confronti dei propri clienti e azionisti per garantire un approvvigionamento energetico efficiente, ottimizzando la gestione grazie a un’attenta strategia di controllo dei costi e interessanti opportunità di crescita. L’operazione, che ha un impatto immediato sulla nostra posizione di cassa, ci darà anche un maggiore vantaggio competitivo in un contesto di mercato complesso e ci consentirà di crescere costantemente senza preoccuparci delle fluttuazioni dei prezzi di mercato”.

Audax, which closed the third quarter of 2022 with over 396,000 supply points, thus strengthens its growth plans in Spain, placing itself in a good position to increase its customer portfolio over the next year.

The operation was carried out with the support of the Garrigues law firm and the asset management company Alantra.

Active resilience, antidote to the difficult international situation

Active resilience, antidote to the difficult international situation

by Francesco CALABRETTA

Cluster Leader Hungary and Italy – Audax Renewables

 

* The article is taken from the Audax Renewables eBook Change starts from energy. 5 themes for a changing world downloadable for free in the version pdf.

 

We don't know how the years that have just passed - 2020-2022 - will be considered by those who, in the future, will have the task of reading and giving a critical interpretation of what happened, perhaps finding a specific name for the era we are living in. Without a doubt, it was an exceptional period, with the Covid-19 pandemic as a common thread capable of modifying, sometimes temporarily and sometimes forever, what we have known up to now. And the great social and economic uncertainty generated in this period, just when it seemed to be being resolved, has found new life, this time in the consequences of Russian military aggression in Ukraine.

Already in the ebook published a year ago, we had reflected on the importance of having a "resilient" attitude. Today, we confirm what was said. Resilience, in fact, has the advantage of giving full consistency to that very human ability to know how to face negative and critical events or periods, through not so much a firm and intransigent opposition, but a flexible attitude and dynamic adaptation that leads to knowing how to reorganize and finding balance following adversity, having the opportunity to emerge, if possible, strengthened. But not only. It is also a way of looking at the future with optimistic rationality, fearlessly focusing on growth without upsetting the plans already decided.

A choice that is proving to be a winning one for us at Audax Renewables Italia. And this not only in terms of economic results, which also say a lot: the turnover reached 169 million euros (in 2021 it was 90 million) and the ebitda went from 1.9 million to 5.2 million, for a number of customers grew to 40 thousand units with a particular diffusion in the production sectors (from small businesses to SMEs up to industry). But also for having bet on growth starting from those who "make the company" every day, filling it and giving it life with their presence, their time and therefore their work. During this difficult period the Audax team has increased both in terms of employees and external collaborators and consultants. Furthermore, under the pressure of the changed working methods imposed by the pandemic, the space in which to meet was also rethought, hence the decision to move to a more comfortable, dynamic, open place, a place in which one can work according to smart logic , flexible and no longer just “office centric” as happened in the past. Thus, after the inauguration of the new and larger headquarters in Milan, an important change is also expected for the one in Turin.

Added to this was in-depth work on the design and implementation of customer services. A notable organizational effort for an expanding company like Audax Italia which has seen the introduction of advanced customer care and customer management systems, for an increasingly close and immediate relationship with those who have chosen us.

We believe that only by continuing on this resilient - and courageous - path will it be possible to overcome this long critical period.

EBOOK: “IL CAMBIAMENTO PARTE DALL’ENERGIA”

EBOOK: “IL CAMBIAMENTO PARTE DALL’ENERGIAâ”

2022 has been an intense and difficult year. At the tail end of the pandemic and the key issue of climate change - which requires immediate and effective responses - have been added the profound energy crisis and the economic consequences of Russian military aggression in Ukraine.

An intense and difficult year from which the role of energy in the present and future development of the globe emerges - with even more clarity - as the main element from which to start to give rise to that Transition towards a world that is as decarbonised as possible.

In this our ebook – 2022 edition* – we talk about energy but not only. Investments and obstacles to the development of RES, world of work and opportunities, circular economy, transition and global crisis become elements of a large mosaic.

Finally, we would like to point out a small-big difference compared to past editions: we have preferred the written form to the only written form data content – with sheets full of figures, data and graphs – in order to combine in-depth and conciseness in just a few pages.

Enjoy the reading!

DOWNLOAD EBOOK CHANGE STARTS FROM ENERGY

Download the other Audax Renewables eBooks:

  1. Energy 2021. A sector in Transition. A sector in Transition
  1. Six themes for the energy of the future

 

*All contents were published on the company profile LinkedIn during 2022.

Our future? Go through the energy transition*

Our future? Go through the energy transition*

Tra le parole che si sono fatte strada negli ultimi cinque anni, è difficile non citare “transizione”.

“Transizione”, cioè quel periodo necessario se si vuole cambiare profondamente una situazione senza che questo porti ad un cambiamento radicale e ad esiti incerti, cioè ad una “rivoluzione”. Ogni Transizione è fatta dal susseguirsi di una serie di fenomeni – ben precisi – che, intervenendo nella e sulla realtà quotidiana, la modificano fino a dar luogo a qualcosa di diverso dal punto di partenza. “Transizione” verso un’economia sostenibile, decarbonizzata e circolare, ma anche “transizione digitale” e “transizione energetica”.

Ed è proprio quest’ultima, essenziale per la vita stessa delle nostre società, che richiede cambiamenti tanto decisivi quanto tollerabili dall’intero sistema. Un mondo decarbonizzato si ottiene costruendo le condizioni affinché le fonti pulite e rinnovabili -sole, vento in primis- siano in grado di fornire, in totale sicurezza e continuità, quanto necessario allo sviluppo e al benessere delle persone.

In questo senso, le scelte strategiche del Gruppo Audax Renovables sono strettamente legate al concetto di “transizione” energetica come momento di passaggio necessario per essere preparati alla completa eliminazione delle fonti fossili. E i risultati, non solo economici e finanziari, dimostrano che la scelta di puntare sulle energie rinnovabili è stata lungimirante e vincente. Sia in passato sia in questo 2022, un anno doppiamente difficile perché è il primo post-pandemia (grazie alle ripetute campagne vaccinali che hanno consentito una ripresa delle attività) e perché è profondamente segnato dall’aggressione russa all’Ucraina, con le sue gravi conseguenze sulla stabilità del mercato energetico, in particolare quello europeo.

 

Allora, qual è il contributo di Audax Renovables alla Transizione? Il nostro Gruppo commercializza e produce energia elettrica 100% rinnovabile grazie alla crescente quantità di energia verde generata negli impianti fotovoltaici ed eolici in tutto il mondo e attraverso importanti accordi per l’acquisto di energia pulita e gas CO2 free.

Ora diamo un’occhiata ad alcuni dati. Nel 2022 -dati a settembre- erano in esercizio 226 MW di potenza installata (+55%), per un incremento del 98% dell’energia prodotta. Un risultato notevole. Anche considerando i progetti già avviati – in diverse fasi di sviluppo, da early stage to operations – i MW salgono a oltre 2.500.

A portfolio that sees wind and photovoltaic parks present in European countries such as Spain, Portugal, France, Poland and Italy and overseas nations such as Panama.

Solo osservando questi mesi, si possono trovare due importanti progetti fotovoltaici, entrambi sviluppati in Spagna. Il primo, Zaratán, con una potenza totale di 12,3 MWp, sarà in grado di generare 21,5 GWh/anno, che equivalgono al consumo energetico di 5.500 abitazioni e circa 17.000 persone. Su richiesta, l’energia pulita eviterà l’emissione in atmosfera di 3.800 tonnellate di CO2 all’anno. Il secondo, denominato La Miranda, avrà una potenza complessiva di 6,87 MWp, ovvero 12,2 GWh/anno, pari al consumo energetico di 3.500 abitazioni e di oltre 11.000 persone. L’utilizzo di questa energia pulita eviterà l’emissione in atmosfera di 2.500 tonnellate di CO2 all’anno.

 

A tutto ciò si aggiungono i brillanti risultati economici e finanziari registrati in questi anni. Nel 2021, i ricavi sono stati pari a 1.690 milioni di euro, l’EBITDA è stato di 52 milioni, mentre il risultato netto ha portato a 2,8 milioni di euro.

 

Il futuro, che passa attraverso la transizione energetica e un’economia decarbonizzata, non può che tendere a fonti di energia green.

We believe that only by continuing on this courageous path will it be possible not only to overcome this long critical period but to move towards a more sustainable future.

 

* This text, here in dual language Italian-Spanish, was read during the XVI edition of the Awards which the Official Chamber of Commerce of Spain in Italy dedicates to the Spanish and Italian realities that have distinguished themselves in the consolidation of economic-commercial relations between the two countries. Audax Renewables, together with the entire Audax Renovables Group, was awarded the "Energy Transition" award.

__________

 

Our future? Pass through the energy transition

The contribution of the Audax Renovables Group to a decarbonised economy

 

Entre las palabras que han encontrado fortuna en los últimos cinco años, es difícil no mencionar “transición”.

“Transición”, es decir aquel período necesario si se quiere cambiar profundamente una situación sin que este lleve a un cambio radical y resultados inciertos, es decir, una “revolución”. Cada Transición está hecha por la sucesión de una serie de fenómenos –muy concretos– que, al intervenir en y sobre la realidad cotidiana, la modifican hasta el punto de dar lugar a algo diferente del punto de partida. “Transición” hacia una economía sostenible, descarbonizada y circular, pero también “transición digital” y “transición energética”.

And it is precisely this last, substantial one for the life of our societies, requiring changes as decisive as tolerable by the entire system. A decarbonized world is achieved by building the conditions so that clean and renewable sources - only, as they come in the first place - are capable of providing with total security and continuity what is necessary for the well-being and well-being of people.

In this sense, the strategic elections of the Audax Renovables Group are intimately linked to the concept of energy “transition” as the moment of transition necessary to be prepared for the total elimination of fossil fuels. And the results, not only economic and financial, show that the decision to focus on renewable energy was prospective and successful. Both in the past and in this year 2022, a doubly difficult year because it is the first post-pandemic (thanks to the repeated vacancy campaigns that have allowed a resumption of activities) and because it is marked by the Russian aggression in Ukraine, with its serious consequences on the stability of the energy market, especially European.

 

First of all, what is the contribution of Audax Renovables to the Transition? Our group markets and produces 100% renewable electricity thanks to the growing quantity of renewable energy generated by photovoltaic and wind plants throughout the world and has made important efforts to purchase renewable energy and CO2 free gas.

Ahora veamos algunos datos. En 2022 -datos a septiembre- estaban operativos 226 MW de potencia instalada (+55%), por un incremento del 98% de la energi´a generada. Un resultado destacable. Todavía si consideramos los proyectos que ya han comenzado – en diferentes etapas de desarrollo, early stage hasta operation – los MW se elevan a más de 2.500.

A list of wind and photovoltaic parks present in European countries such as Spain, Portugal, France, Poland and Italy and Americans such as Panama.

By just observing these months you will find two important photovoltaic projects, the two developed in Spain. First, Zaratán, with its total power of 12.3 MWp, will be able to generate 21.5 GWh/year, which is equivalent to the energy consumption of 5,500 people and 17,000 people. Below, clean energy will prevent the emission of 3,800 tons of CO2 per year into the atmosphere. The second, called La Miranda, will have a total power of 6.87 MWp, i.e. 12.2 GWh/year, equivalent to the energy consumption of 3,500 lives and more than 11,000 people. Our clean energy cargo will avoid the emission of 2,500 tons of CO2 per year into the atmosphere.

 

In all this, there are the brilliant economic and financial results recorded during these years. In 2021, revenue rose to 1,690 million euros, EBITDA was 52 million, while the net result rose to 2.8 million euros.

 

The future, which passes through the energy transition and a decarbonized economy, can only tend towards green energy sources.

We believe that only by continuing along this valiant path will it be possible not only to overcome this long critical period but also to advance towards a more sustainable future.

Audax Renewables vince il Premio “Transizione Energetica”

Audax Renewables vince il Premio “Transizione Energetica”

Spanish Official Chamber of Commerce Awards 2022

Audax Renewables obtains the "Energy Transition" recognition at the XVI edition of the Awards that the Official Chamber of Commerce of Spain in Italy dedicates to Spanish and Italian companies that have distinguished themselves in the consolidation of economic-commercial relations between the two countries.

The recognition was awarded to Audax Renewables - and to the entire Audax Renovables Group - for the daily work carried out and the commitment made towards the complete replacement of fossil fuels for the benefit of renewable energy with the generation and marketing of green 100% energy.

The award was presented to Francesco Calabretta, Cluster Lead Hungary & Italy at Audax Renewables and to Oscar Santos Juvé, General Director of Audax Renovables.

The evening – which took place in Milan on Friday 1 December – saw the participation of the Spanish Secretary of State of Commerce, Xiana Méndez, the Spanish Ambassador-designate to Italy, Miguel Ángel Fernández-Palacios, the Deputy Minister of Justice, Francesco Paolo Sisto, the Undersecretary of State at the Ministry of Defense and the Deputy Mayor of Milan, Anna Scavuzzo.

L’energia oggi. Il problema del “Caro bollette”

L’energia oggi. Il problema del “Caro bollette”

The sharp increases in energy bills for electricity and gas illustrate better than any other story the difficult economic and political situation in which, unfortunately, we find ourselves. A period of great turbulence on the energy markets that began in the summer of 2021 and whose negative effects were further magnified with the invasion of Ukraine by Russia, the main energy partner of several European countries, including Italy.

I dati non lasciano dubbi. L’andamento del PUN (Prezzo Unico Nazionale), indice del prezzo di riferimento dell’energia elettrica alla borsa elettrica italiana, dimostra come si sia passati da un costo medio mensile di 0,084 per €/kWh nel giugno 2021 a uno di 0,441 nello scorso mese di luglio. Uno squilibrio considerevole, al quale si è giunti passando per una costante e rapida crescita dei prezzi. Ugualmente si può dire per il gas, oggi al centro della crisi anche per le implicazioni che vi sono con la guerra in corso. Per capire la portata degli aumenti è sufficiente ricordare che alla fine di agosto si sono sfiorati i 300 euro a megawattora, ovvero dieci volte in più di quanto veniva quotato a gennaio 2021.

This bull run has also led to extraordinary interventions by governments. The Italian one has allocated several billion euros - and perhaps more are planned - to curb high bills and reduce their impact on consumers and businesses. Equally at community level, work is underway for a so-called "ceiling" on the price of Russian gas.

 Considering the situation, it is highly probable that the current crisis - barring unexpected events - is destined to last for a long time. And it is in difficult moments like these that we realize how energy, too often taken for granted, is indispensable for carrying out most of our daily activities.

In this complicated framework, Audax Renewables will continue to do what it has always done: work to offer a quality supply service at advantageous prices.

This can happen thanks to the ever-increasing share of renewable energy generated in our photovoltaic and wind plants around the world and through the signing of important agreements with reliable players for the purchase of renewable 100% energy. The future, that which passes through the energy transition and a decarbonised economy, can only tend towards green energy sources.

To this we must add the guarantee given by a structurally organized and financially solid Group like Audax Renovables.

We believe that only by continuing on this path will it be possible to overcome this critical period together.

Audax Renewables and BFF agreement for factoring services in Italy and Spain

Audax Renewables and BFF agreement for factoring services in Italy and Spain

Milan, May 2022 – BFF, the largest specialized financial operator in Italy, leader in Europe in the financial sector factoring for the Public Administration and the National Health Service, has signed a multi-country agreement with Audax Renewables, a vertically integrated energy group that generates and supplies 100 % electricity of renewable origin and gas in 7 countries.

 

L’accordo, che prevede la cessione without recourse of commercial credits claimed by Public Administrations, in the form of revolving and for a duration of two years, applies to Italy and Spain and confirms the central role of factoring as a support for the growth and greater liquidity of companies.

Thanks to this agreement, BFF guarantees Audax Renewables a pre-determined fixed cost for the mobilization of future credits from Public Administration bodies.

In this way, BFF accompanies Audax Renewables in the process of analyzing commercial opportunities in the public sector in a very delicate moment of strong change for the energy market.

 

Francesco Calabretta, Cluster Lead Italy and Hungary & Country Manager Italy, Audax Renewables, underlined how the growth of companies also depends on "from partnerships with entities, such as BFF, capable of concretely supporting its activity and, therefore, encouraging its development. Especially if we consider that the energy sector in which we operate - today more than ever - has become strategic for the country's progress. Having the appropriate tools means knowing how to face with greater awareness both the complex international situation in which we find ourselves and the objectives of the Ecological Transition towards which we must increasingly strive”.

 

Michele Antognoli, VP Factoring & Lending, BFF Banking Group, commented: “The new agreement with AUDAX is a further example of how Factoring can be a tool for those companies that want to seize new growth opportunities. A concrete demonstration of synergy in the interest of the entire community, at a time when, thanks to the PNRR, the country is preparing to benefit from new resources, and in a sector, the energy sector, which is now at the center of important challenges ”.

 

 

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BFF Banking Group

BFF Banking Group is the largest specialized finance operator in Italy, as well as a leader in the management and non-recourse disinvestment of trade receivables claimed from Public Administrations in Europe, and in Italy in Securities Services and in Payment Services. The Group operates in Italy, Croatia, France, Greece, Poland, Portugal, the Czech Republic, Slovakia and Spain. BFF is listed on the Italian Stock Exchange. In 2021, it recorded a Consolidated and Adjusted Net Profit of €125.3 million, with a Group CET1 ratio, at the end of March 2021, of 16.7%. www.bff.com

 

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