Because Vetrya no longer toasts
What is wrong with the Vetrya company? Facts, numbers and scenarios
From today, 23 September, and until further notice, it will not be possible to place orders without a price limit on Vetrya ordinary shares. This was announced by Borsa Italiana.
Therefore the shares will be traded in the AI1X sector of the MA1 segment of the Millennium platform.
THE TONFO OF VETRYA IN THE BAG
In yesterday's session in Piazza Affari, the Vetrya stock closed down 9.09% to 1.45 euros per share.
THE NEWS COMMUNICATED BY VETRYA
Why is there a commotion on the stock exchange and not just about the company active in the development of digital services, cloud computing platforms, application solutions and broadband services? Vetrya yesterday announced that "the economic objectives of the industrial plan communicated to the market on January 28, 2021 (with specific reference to the Ebitda expected in breakeven for 2021) are not achievable and, therefore, the plan is no longer valid ".
WHAT THE VETRYA MANAGEMENT HAS WRITTEN
The management, reads a note, "took note of the deviation from the budget and the impossibility of being able to confirm the achievement of break even only at the end of August following receipt of the financial reports related to the former market of value-added services and the completion of a series of internal checks made necessary also following the resignation of the heads of the Telco and Media areas ".
GOODBYE HIGH ADDED VALUE SERVICES MARKET
The preliminary data as at 30 June this year, which will be approved by the board of directors convened for next 29 September and subsequently reviewed by the auditing company, highlight the contraction in revenues linked to the telco and exit from the value-added services market and failure to achieve the expected results in the Direct Carrier Billing area.
WHAT HAPPENS IN VETRYA
The difference foresees a preliminary turnover in the first half of this year of 4,774 million euros with a reduction of 16,722 million compared to the first half of 2020 and an ebitda of -3,651 million with a negative increase of 133,595 euros compared to the first half of 2020.
THE NEW FORECAST ON VETRYA'S TURNOVER
In consideration of these results, the management of Vetrya will present to the next board of directors an updated projection at the end of 2021 with an expected turnover between 8 and 10 million and an EBITDA between -5 and -6 million against, in fact, the breakeven forecast indicated last year. January 28.
WHAT THE BOARD WILL DECIDE ON 29 SEPTEMBER
The actions that the company intends to take to get out of the crisis situation will be specified in the board of directors on 29 September, which is expected to approve the half-year report, which currently, he warned, "based on preliminary data, could determine a reduction of the share capital below the legal limit ".
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/perche-vetrya-non-brinda-piu/ on Thu, 23 Sep 2021 07:34:25 +0000.