Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Marina Natale was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Mar 19
ERG S.p.A. announces Annual dividend, payable on May 20, 2026 ERG S.p.A. announced Annual dividend of EUR 1.0000 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026. 공시 • Mar 16
ERG S.p.A., Annual General Meeting, Apr 22, 2026 ERG S.p.A., Annual General Meeting, Apr 22, 2026, at 10:30 W. Europe Standard Time. 공시 • Dec 20
ERG S.p.A. to Report Fiscal Year 2024 Final Results on Apr 22, 2025 ERG S.p.A. announced that they will report fiscal year 2024 final results at 12:05 PM, Central European Standard Time on Apr 22, 2025 공시 • Apr 26
ERG S.p.A. (BIT:ERG) completed the acquisition of 75% stake in 317 MW portfolio of wind and solar assets in Iowa and Illinois from Apex Clean Energy Holdings, LLC. ERG S.p.A. (BIT:ERG) signed an agreement to acquire 75% stake in 317 MW portfolio of wind and solar assets in Iowa and Illinois from Apex Clean Energy Holdings, LLC for $270 million on December 21, 2023. ERG will own a 75% stake of the holding and Apex the remaining 25%. The transaction's closing is subject to, inter alia, to investment approval from certain U.S. and European authorities (including CFIUS, HSR Commission, DG-Comp) and the consent to the change of control from relevant third parties (including Tax Equity Investor and PPA counterparts). The transaction's closing is expected within the first half of 2024. Rothschild&Co served as financial advisor, White&Case as legal advisor, Ernst&Young as Accounting and Tax Advisor and Credit Agricole as Debt advisor to ERG S.p.A. Apex was advised on the transaction by J.P. Morgan Securities LLC and Santander. As of February 8, 2024, ERG SpA has secured approval from the European Commission to acquire a majority stake in a 317-MW wind and solar farm portfolio.ERG S.p.A. (BIT:ERG) completed the acquisition of 75% stake in 317 MW portfolio of wind and solar assets in Iowa and Illinois from Apex Clean Energy Holdings, LLC on April 24, 2024. Board Change • Jan 23
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Monica Mannino was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 19
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Monica Mannino was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Monica Mannino was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Monica Mannino was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Monica Mannino was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Monica Mannino was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Monica Mannino was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Monica Mannino was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 08
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Board of Statutory Auditors Paolo Prandi was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 21% share price gain to €33.32, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 24x in the Renewable Energy industry in Europe. Total returns to shareholders of 112% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.60 per share. Upcoming Dividend • May 17
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (4.1%). Higher than average of industry peers (2.5%). Reported Earnings • Apr 04
Full year 2020 earnings released: EPS €0.72 (vs €0.21 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €977.6m (down 4.6% from FY 2019). Net income: €107.9m (up 242% from FY 2019). Profit margin: 11% (up from 3.1% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Mar 17
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €990.9m (down 4.3% from FY 2019). Net income: €105.8m (up 235% from FY 2019). Profit margin: 11% (up from 3.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 19
New 90-day high: €25.15 The company is up 17% from its price of €21.50 on 21 October 2020. The British market is up 16% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €94.32 per share. Is New 90 Day High Low • Dec 28
New 90-day high: €22.92 The company is up 9.0% from its price of €21.00 on 29 September 2020. The British market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €96.85 per share.