(Alliance News) - The board of directors of Imprendiroma Spa on Friday announced that the EUR165.3 million backlog of orders -- to be executed in the two-year period 2022-2023, consistent with what was declared at the IPO -- was fully realized by Dec. 31, "thanks to the strong acceleration given to all ongoing projects in order to protect its customers and not to lose the tax benefits provided by the regulations and for which, at the time of the aforementioned announcement, an extension to the first quarter of 2024 was expected," as the company explained in a note.

In addition to this backlog, a further EUR30 million or so of works carried out in ancillary interventions to existing projects were also added.

In detail, as of Dec. 31, the value of the contracted orders to be started in the 2024 fiscal year was EUR42.2 million from EUR35.1 million as of Sept. 30, relating to residential, public and private, as well as artistic projects with the Holy See, to which was added a portfolio of additional project proposals to the already contracted initiatives worth EUR74.0 million from EUR69.5 million as of Sept. 30.

Guerino Cilli, CEO of Imprendiroma, commented, "With great satisfaction, we were able to complete an extraordinary workload, bringing forward into 2023 part of our production otherwise scheduled for the first quarter of 2024. The achievement of this important milestone, for which every element of the Imprendiroma team has worked tirelessly, was by no means a foregone conclusion and was possible thanks to an efficient and organized industrial cycle, which was further strengthened with the IPO, both through the hiring of qualified personnel and the adoption of new organizational procedures."

"In this context, we should not forget the support the company enjoys and has enjoyed from the banking system, precisely because of its proven industrial capabilities. The group, with the aim of further consolidating its leadership role in the field of large-scale infrastructure projects aimed at energy efficiency, is working to strengthen itself in strategic and complementary areas of activity, including through targeted acquisitions. The company's expectation is to benefit in the coming years from the growth it has had to date through the "grounding" of projects with both condominium and public, corporate and institutional counterparts, leveraging the group's proven ability to adapt to the continuously evolving energy efficiency and renewable energy market, which is affected by regulatory changes being defined at both the European and national levels."

Imprendiroma, on Friday, closed flat at EUR2.48 shares.

By Claudia Cavaliere, Alliance News reporter

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