ENERGISME
ENERGISME: The SaaS developer in energy performance, ENERGISME, is launching
its IPO on Euronext Growth Paris.
06-Jul-2020 / 07:30 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
The SaaS developer in energy performance, ENERGISME, is launching its IPO on
Euronext Growth Paris(R)
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· Fixed Price Offer totalling approximately EUR 8m (EUR 4.65 per Offered
Share)
· EUR 6.86m already secured in the form of subscription commitments,
including EUR 1.44m by redeeming convertible bond debt into new shares
· Subscription period: 6 July to 16 July 2020 inclusive for the Public
Offering and the Private Placement
· Start of trading on the Euronext Growth Paris(R) market: 22 July 2020
· Securities eligible for tax reductions, innovation investment funds (FCPI)
and PEA (SME-ISE personal equity plans)[1]
ENERGISME is announcing today the launch of its initial public offering with a
view to allowing its shares to be traded on the Euronext Growth Paris(R)
market (ISIN: FR0013399359/Ticker: ALNRG).
ENERGISME, the SaaS developer in energy performance
Intelligent data for companies, buildings, and the planet
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From the climate emergency, to energy savings, developing renewable energy and
Green Data, energy is at the core of the major challenges facing companies and
the planet today. To take on these challenges, the ability to collect, process
and use data has become a key priority. In this context, ENERGISME's mission
is to accelerate companies' and buildings' energy performance using
intelligent data to achieve financial, operational and environmental gains
that are substantial and, above all, measurable.
A proprietary, collaborative software platform that provides a solution to all
energy performance issues
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Founded in 2004 and taken over in 2015 by energy sector specialists, ENERGISME
has developed a SaaS technology platform that provides solutions to the
problems faced by all energy performance stakeholders, including energy
service providers, energy suppliers and distributors, manufacturers and
property managers. For users of the ENERGISME solution, there are multiple
benefits, including real-time data collection, enhanced data reliability and
curation, detection of anomalies and potential savings, optimisation of
facilities and supply contracts, monitoring and IPMVP (International
Performance Measurement and Verification Protocol) certification of energy
performance contracts, improving actions taken, etc.
As such, the platform provides real-time access to an extensive catalogue of
high value-added and easily deployable applications (dynamic mapping,
monitoring and valuation of improvement actions, data management, predictive
modelling, pricing optimisation, etc.). Information is displayed using an
easily configurable, ergonomic interface (no software to install) that is
completely interoperable (no new data silos are created).
Thanks to this comprehensive range of functions, the solution removes all
barriers or constraints to data collection (data heterogeneity and
massification, multiple information sources, diversity of needs and uses,
costly intervention of data experts, etc.) processing and usage (real time,
siloing and compartmentalisation of access that limits analysis and
information sharing).
ENERGISME's solution is today unrivalled and handles the entire energy
performance data value-chain, with no limit on the number of users or sites,
on the types of energy (electricity, gas, water, etc.), uses (heating,
cooling, processing, production lines, etc.) or data sources (meters, IoT
sensors, machines, Building/Centralised Management Systems, ERP, CRM, flat
files, etc.).
A solution backed by a best-in-class, powerful and secure infrastructure
A solid technological base with R&D investments already made
The strength of ENERGISME's SaaS platform comes from a solid technological
base with EUR 18.5m invested in R&D over the last five years, in addition to
a team of engineers (85% of the company's workforce of 102 people as of the
end of May 2020) with cutting-edge expertise (Data engineers, DevOps, Data
scientists, IoT engineers, etc.). These key factors help the company stand out
on the market and are reinforced by over 100 technology partners, including
industry giants like Microsoft Azure. All these attributes enable ENERGISME to
benefit from a best-in-class, powerful, scalable, secure and collaborative
infrastructure that covers the entire energy data value chain.
A resilient SaaS subscription model that provides clear visibility
Over 100 industry-leading clients already onboarded with major revenue growth
potential
Bolstered by its platform's technological and operational attributes, 114
large account clients that are references on their markets have already
adopted the ENERGISME solution. This customer base alone provides major
revenue growth potential.
In addition to the recurring character of its SaaS-based business, where the
company's initial contracts have durations of 3-5 years assuring high customer
loyalty, ENERGISME's business model draws on several important growth drivers,
including roll out (extension of data points, increased number of sites,
users, data sources, etc.) and upselling (development and marketing of
specific functions) to its existing client base. Furthermore, ENERGISME plans
to open up its platform to its clients' partners in order to develop a
circular knowledge economy (Knowledge-Sharing Management) in order to
incorporate artificial intelligence algorithms from AI partners for example.
Increased business acquisition thanks to an indirect sales strategy through
industry-leading partners
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Beyond growing its existing client base, ENERGISME is poised to step up its
sales momentum. In this area, the company is already drawing on a network of
sales partners that offer a white-labelled ENERGISME solution (IT services
companies, IoT operators, engineering firms, integrators and VAR (value-added
resellers), etc.) that limit customer acquisition costs and drive business
development. In the first half of 2020, over 300 sales associates have already
been trained at these partners and they will be driving the company's growth
over the coming months.
Clear visibility on future growth
Expected revenue growth of over 160% in 2020
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ENERGISME's revenue amounted to EUR 1.5m in 2019, a 58% increase compared to
2018. The company posted a net loss of EUR 6.7m in 2019.
Thanks to the clear visibility inherent in its SaaS model, ENERGISME is
forecasting a pick-up in growth in 2020, with revenues expected to exceed
EUR 4m, for growth of over 160%.
A determined approach to corporate social responsibility
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ENERGISME has committed to a determined approach to corporate social
responsibility (CSR). This commitment was clearly evidenced in May 2020 when
ENERGISME achieved a score of 60/100 from extra-financial analysis company
EthiFinance, which rates the company's extra-financial performance as
"advanced". With this rating, ENERGISME is over 34 points ahead of the sector
average.
Placement on Euronext Growth Paris(R) to support the company's aggressive
market-share capture strategy, with EUR 6.86m in subscription commitments
already secured
At the beginning of the placement period, ENERGISME had EUR 6.86m in firm
subscription commitments already secured from nine institutional investors,
including EUR 1.44m through the conversion of Convertible Bonds issued on 29
June 2020. These commitments account for over 85% of the gross offering
amount.
The net proceeds of the funds raised from the issue of New Shares (EUR 8m
based on the Offering Price) will enable ENERGISME to pursue the following
targets:
· Financing growth (WCR), 25% of funds raised;
· Increasing its sales force, especially for international development, 75%
of funds raised.
Although no targets have been identified as yet, ENERGISME is monitoring its
market for potential external growth opportunities and reserves the right,
should an acquisition opportunity arise, to reallocate some of the funds
detailed above by reducing the amount allocated to increasing the sales force.
Thierry Chambon, Chief Executive Officer of ENERGISME, says:
"The time is now to bolster our market positions in France and
internationally. We have already won over more than one hundred companies
thanks to our unrivalled technological solution on the market. All indicators
are giving us the green light to forge ahead. Energy performance is a key
concern for companies today, driven by structural concerns that have been
reinforced by the current health crisis, including greater awareness of
environmental issues, increasingly stringent regulations, and the need to
reduce costs and improve operational performance and resilience. Beyond the
additional revenue expected from our client base, our indirect sales network
that is now in place affords us considerable growth potential and, thanks to
our SaaS subscription model, we have clear visibility on our future growth. We
are ready to scale up and offer a common digital foundation for the energy
transition ecosystem. Our planned IPO is fully in line with this ambition."
Find all the information on ENERGISME's IPO at https://investir.energisme.fr
[1]
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Eligibility of the offering for the SME personal equity plan (PEA-PME) and BPI
Innovative Company qualification
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*********************************
ENERGISME is announcing that it respects the eligibility criteria for SME-ISE
personal equity plans under French law. As a result, ENERGISME shares can be
fully integrated into personal equity plans (PEAs) and PEA-PME accounts, which
enjoy the same tax benefits as a traditional PEA*.
ENERGISME also qualifies as a BPI Entreprise innovante* (innovative company).
*These schemes under French law are conditional and within any applicable
ceilings available. Interested parties should contact their financial advisor.
About ENERGISME
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Founded in 2004 and taken over in 2015 by energy sector specialists, ENERGISME
has developed a SaaS technology platform to accelerate companies' and
buildings' energy performance (energy service providers, energy suppliers and
distributors, manufacturers and property managers) by using intelligent data
to achieve financial, operational and environmental gains that are substantial
and, above all, measurable. Bolstered by its platform's technological and
operational attributes and thanks to EUR 18.5m in investments, ENERGISME
already has 114 large account clients. A white-label solution is also being
marketed to blue-chip industry players.
Presentation of the stakeholders
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Lead Managers Advisor and Communications agency
and Bookrunner Listing Sponsor
Contacts
********
ENERGISME Press Relations Investor Relations
Thierry Chambon Jennifer Julia Victoire Demeestère
investisseurs@energisme.com jjullia@actifin.fr vdemeestere@actifin.fr
Tel. +33 (1) 81 89 33 90 Tel. +33 (1) 56 88 Tel. +33 (1) 83 62 80
11 19 44
TERMS OF THE ISSUE
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SHARE CAPITAL BEFORE THE ISSUE
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Public limited company with a board of directors with a share capital of
EUR 431,649 divided into 4,316,490 shares with a par value of EUR 0.10.
CHARACTERISTICS OF THE SHARES
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Name: ENERGISME
Ticker: ALNRG
ISIN: FR0013399359
Market quoted on: Euronext Growth Paris
ICB Classification: 10101015 - Software
LEI: 9695004RP20YYZYY7E41
Eligible for the SME-ISE personal equity plan (PEA) and "BPI Entreprise
innovante" qualification*
*These schemes under French laware conditional and within any
applicableceilings available. Interested parties should contact their
financial advisor.
STRUCTURE OF THE OFFERING
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The Offered Shares will be distributed as part of a global offer (the
"Offering"), comprising:
· an offering to the public in France in the form of a public fixed price
offer, mainly intended for natural persons ("Fixed Price Offer" or "FPO"),
whereby:
1. orders will be broken down according to the number of shares requested:
order fraction A1 (from 1 share up to 250 shares) and order fraction A2 (over
250 shares);
2. the A1 order fractions will receive preferential treatment relative to the
A2 order fractions in the event that all orders could not be entirely
satisfied;
· a private placement primarily intended for institutional investors in
France and certain other countries (with the exception of the United States,
Canada, Australia and Japan) ("Private Placement").
SUBSCRIPTION PRICE OF NEW SHARES
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EUR 4.65 per Offered Share (the "Offering price"), comprising a par value of
EUR 0.10 and additional paid-in capital of EUR 4.55.
TERMS AND CONDITIONS OF THE OFFERING
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A maximum of 1,720,430 New Shares to be issued for the purposes of the capital
increase in cash, without pre-emptive subscription rights, through an offering
to the public (the "New Shares").
GROSS TRANSACTION AMOUNT
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For reference, approximately EUR 8m, based on the Offering Price of EUR 4.65
per share.
SUBSCRIPTION COMMITMENTS RECEIVED
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The subscription commitments received total EUR 6.86m, which represents
85.75% of the New Shares Offered based on the Offering Price.
INOCAP GESTION has committed to place a subscription order for a total amount
of EUR 1.44m through the conversion of Convertible Bonds issued on 29 June
2020, which ENERGISME intends to fulfil in its entirety.
GREENSTOCK and seven other institutional investors have indicated their
intention to subscribe for a total of EUR 5.42m in cash, which ENERGISME
intends to fulfil in its entirety if demand permits, however, this amount may
be reduced in order to respect the standard allocation principles.
COMPANY'S LOCK-UP AGREEMENT AND
SHAREHOLDERS' HOLDING AGREEMENTS
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Company's lock-up agreement: 180 days, notwithstanding certain exceptions
detailed in the Information Document.
Managers' holding agreements: Thierry Chambon, Chief Executive Officer, Pierre
Vidal, Deputy Chief Executive Officer, and Alexis Tran, Innovation and
Technical Director, who respectively own, directly and indirectly, 6.09%,
7.00% and 3.96% of the Company's shares as of the date of this Information
Document, signed a commitment on 2 July 2020 to hold, subject to certain
exceptions:
· 100% of the shares they owned on the date they signed the commitment for a
period of 360 calendar days starting on the settlement-delivery date of the
Offering;
· 80% of the shares they owned on the date they signed the commitment for a
period of 540 calendar days starting on the settlement-delivery date of the
Offering.
PROVISIONAL TIMETABLE OF THE OFFERING
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03/07/2020 The Board of Directors decides on the terms of the
transaction
03/07/2020 The Euronext Board approves the plan to allow trading
on Euronext Growth
06/07/2020 Distribution of the press release announcing the
Offering
Launch of the Company's "market" website:
https://investir.energisme.fr [2]
Opinion from Euronext Paris on the opening of the FPO
and the Information Document made available online
Opening of the FPO and the Private Placement
16/07/2020 Closure of the FPO at 5:00 p.m. Paris time for
subscriptions at counters and 8:00 p.m. Paris time
for online subscriptions. - Closure of the Private
Placement at 5:00 p.m. Paris time
17/07/2020 Distribution of the press release detailing the final
number of New Shares and the outcome of the Offering.
Opinion from Euronext Paris on the outcome of the
Offering
21/07/2020 Settlement-delivery of the FPO and the Private
Placement
22/07/2020 Trading in the company's shares begins on Euronext
Growth.
REASONS FOR THE OFFERING
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The net proceeds of the funds raised from the issue of New Shares (EUR 8m
based on the Offering Price) will enable ENERGISME to finance growth (WCR)
(25% of funds raised) and increase its sales force, especially for
international development (75% of funds raised).
Although no targets have been identified as yet, ENERGISME is monitoring its
market for potential external growth opportunities and reserves the right,
should an acquisition opportunity arise, to reallocate some of the funds
detailed above by reducing the amount allocated to increasing the sales force.
OBTAINING THE INFORMATION DOCUMENT
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Copies of the Information Document filed with Euronext on 3 July 2020 are
available free of charge upon request from the head office of ENERGISME (88
Avenue du General Leclerc - 92100 BOULOGNE-BILLANCOURT). An electronic copy
can be obtained from the Euronext website (www.euronext.com [3]) or the
Company's website (https://investir.energisme.fr [2]).
RISK FACTORS
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Any investment in shares entails some risk. Before making any decision to
invest, investors are invited to consult Chapter 3 "Risk Factors" and Chapter
20 "Risk Factors Associated with the Offering" of the Information Document.
DISCLAIMER
**********
This press release contains indications on the Company's outlook and focuses
of development. These indications are sometimes identified by the use of the
future or conditional tense, or terms of a forward-looking nature such as
"think", "aim", "expect", "intend", "estimate", "target", "believe", "wish",
"could", "should" or "may", or where applicable the negative form of these
terms, or any other variant or similar terminology. This information is not
historic data and may not be interpreted as a guarantee that the events and
data referred to will occur. This information is based on data, assumptions
and estimates considered as reasonable by the Company. It is subject to change
or modification due to uncertainties associated in particular with the
economic, financial, competitive and regulatory environment. This information
contains data pertaining to the Company's intentions, estimates and targets
concerning in particular the markets on which it operates, its strategy,
growth, results, financial position and cash position. The forward-looking
information provided in this press release is provided as of the date of the
press release. The company makes no commitment to publicly update the
forward-looking information in this press release, unless required to do so by
applicable legal or regulatory obligations. The Company operates in a
constantly changing and competitive environment. Accordingly, it cannot
anticipate all the risks, uncertainties and other factors liable to affect its
business, their potential impact on its business, or to what extent the
occurrence of a risk or combination of risks may have materially different
results than those referred to in any forward-looking information, bearing in
mind that none of this forward-looking information constitutes a guarantee of
actual results.
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[1] These schemes under French law are conditional and within applicable
ceilings. Interested parties should contact their financial advisor.
Regulatory filing PDF file
File: ENERGISME - IPO UK [4]
1086531 06-Jul-2020 CET/CEST
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(END) Dow Jones Newswires
July 06, 2020 01:30 ET (05:30 GMT)
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