EiDF, BME Growth announced that it has been suspended since last Friday You will not be able to present your 2022 accounts within the legal period.It expires on April 30. The situation is unusual (recent case where listing of a company was suspended due to accounts not being signed by the auditor, abengoa), the company’s auditor (PwC) confirm your accounts, which is vital information for traders. The EiDF said in a public statement this Wednesday, KPMG as a financial and accounting consultant, “these services include a preliminary assessment of the company’s internal control”. The EiDF acknowledges that in its review by the PwC auditor appointed in 2022, “certain issues have emerged that may have a material impact on the audit report”.
With this announcement, the renewable energy group is breaking the silence it has maintained since the National Securities Market Commission (CNMV) temporarily suspended its BME Growth listing on Friday. It was decided because PwC refused to sign its financial statements. Until last year, the energy company was overseen by the Crowe firm and will now take the flag in PwC’s hands for the next three years.
The titles of the company specializing in photovoltaic self-consumption, which aims to constantly leap to the market, It was traded at 29.76 Euros, up 2.98%.At the time of its suspension, its capitalization rose to over 1,700 million eirps. After accumulating more than 600% revaluations since jumping into this market in 2021, where it is the largest company in this index.
In a statement to the market, the company said, “conducts internal business that allows it to comply.from the accounting, trading, governance and organizational point of view to the requirements necessary to request the inclusion of its shares in the Spanish Stock Markets, all in order to comply with the provisions of Article 63.7, inter alia. He added that to this end, it should adapt its consolidated financial statements to international financial reporting standards adopted by European Union Regulations (IFRS).
In this way, within the framework of the adaptation of the financial statements to IFRS and on the occasion of the audit review conducted by PricewaterhouseCoopers Auditores (PwC), the company’s external auditors appointed in 2022, the individual and consolidated financial statements corresponding to 2022, “certain issues have arisen that could have a significant impact on your audit reportdetermining the need to broaden the scope of procedures”.
Thus, the EiDF stated: working to contract with a third party Carrying out certain analytical studies on the information underlying the preparation of financial information, based on additional verification procedures, to allow accurate formulation of annual accounts corresponding to 2022. Board of Directors. Faced with this situation, the renewable energy group stressed the “impossibility” of publishing financial information for the fiscal year 2022 within the statutory deadline that expires on April 30.
Also, EiDF He stressed that he will promptly notify the market of the details of the contract with this third party.the result of the analysis made, the preparation process of the 2022 financial statements and the publication after the completion of the PwC audit process.
meteoric uplift
EiDF Solar was born in 2008 by Fernando Romero. installing solar panels in industries. It is headquartered in Barro, a small town of 3,500 inhabitants in Pontevedra. The company took off in 2010 due to the national photovoltaic ‘boom’, the year they focused on industrial self-consumption. In 2021, Sevillian restarted marketing with the acquisition of ODF Energía, which has a business volume of close to 100 million. Thanks to its production, marketing and installation strategy, EiDF has achieved a market share of 19% and is Europe’s first integrated self-consumption company. Regarding the shareholders of the company, 72.1% is controlled by Romero himself through Prosol Energía, 7.6% belongs to Alejandro Alorda from the founding family of Muebles Kettal and 6.6% is the founder of ODF It belongs to Sergio Palmero.
The firm jumped to the BME Growth floor, the start-up of the perpetual market, with a price of €4.2 per share and a capitalization of 57 million on July 7, 2021.. Its rise has been meteoric since then, reaching a stock market cap of over €1,600 million after revaluing more than 500% since 2022. Other greats like Sacyr or Indra. Currently, Romero’s goal is to continually leap to market, and for this he plans to finance his growth plans with a capital increase of around 150 million and could reach 180 million. One of EiDF’s goals is not to expand outside of Spain, as Romero prefers to consolidate its operations in a single country before at least 2030.