Balance Sheet Redelfi S.p.A.

Equities

RDF

IT0005496101

Environmental Services & Equipment

Market Closed - Borsa Italiana Other stock markets 09:15:00 15/05/2026 pm IST			5-day change	1st Jan Change
11.60 ^EUR	0.00%		+1.75%	-7.79%

23/04	Floriana Vitale offloads over 6,700 Redelfi shares	AN
23/04	Redelfi Chairman acquires 7,000 shares	AN

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Published financial data: REDELFI S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues - (Utility Template)	9L	39.64L	34.56L	38.32L	15.81L
Other Revenues, Total	37.93T	1L	2L	6L	3L
Total Revenues	9L	40.87L	36.19L	44.16L	18.75L
Selling General & Admin Expenses, Total	80.99T	1L	2L	3L	3L
Depreciation & Amortization - (IS) - (Collected)	60.89T	72.01T	73.79T	76.96T	80.12T
Amortization of Goodwill and Intangible Assets - (IS)	1L	4L	4L	15.47L	15.49L
Provision for Bad Debts	-	-	-	-	1L
Other Operating Expenses	18.86L	23.48L	-16.48L	-52.82L	-1.43Cr
Total Operating Expenses	21.36L	29.49L	-9L	-33.51L	-1.21Cr
Operating Income (REIT / Utility Template)	-12.21L	11.38L	45.67L	77.68L	1.4Cr
Interest Expense, Total	-3L	-8L	-3L	-16.83L	-19.23L
Net Interest Expenses	-3L	-8L	-3L	-16.83L	-19.23L
Income (Loss) on Equity Invest.	50.45L	54.46T	-	23.96T	-
Currency Exchange Gains (Loss)	-1.38T	634	-66.97T	2L	-6L
Other Non Operating Income (Expenses)	13.05T	652	97.62T	51.34T	7L
EBT, Excl. Unusual Items	34.9L	4L	43.25L	63.8L	1.22Cr
Gain (Loss) on Sale of Investments	-	-49.87T	-	-4L	-
EBT, Incl. Unusual Items	34.9L	4L	43.25L	59.7L	1.22Cr
Income Tax Expense	16.42T	1L	12.96L	26.5L	46.23L
Earnings From Continuing Operations	34.74L	3L	30.29L	33.19L	75.3L
Net Income to Company	34.74L	3L	30.29L	33.19L	75.3L
Minority Interest	10.81T	-9.08T	-8L	-4L	-23.12L
Net Income - (IS)	34.85L	3L	22.42L	29L	52.18L
Net Income to Common Incl Extra Items	34.85L	3L	22.42L	29L	52.18L
Net Income to Common Excl. Extra Items	34.85L	3L	22.42L	29L	52.18L
Per Share Items
Net EPS - Basic	-	-	0.27	-	-
Basic EPS - Continuing Operations	-	-	0.27	-	-
Basic Weighted Average Shares Outstanding	-	-	82.14L	-	-
Net EPS - Diluted	-	-	0.27	-	-
Diluted EPS - Continuing Operations	-	-	0.27	-	-
Diluted Weighted Average Shares Outstanding	-	-	82.14L	-	-
Normalized Basic EPS	-	-	0.23	-	-
Normalized Diluted EPS	-	-	0.23	-	-
Supplemental Items
EBITDA	-10L	13.64L	48.14L	91.42L	1.54Cr
EBITA	-11.14L	12.92L	47.4L	90.65L	1.53Cr
EBIT	-12.21L	11.38L	45.67L	77.68L	1.4Cr
EBITDAR	-9L	15.06L	50.27L	94.49L	1.57Cr
Total Revenues (As Reported)	9L	45.14L	1.09Cr	1.98Cr	2.71Cr
Effective Tax Rate - (Ratio)	0.47	27.63	29.97	44.4	38.04
Total Current Taxes	24.9T	1L	3L	10.81L	5L
Total Deferred Taxes	-8.48T	-	10L	15.7L	41.56L
Normalized Net Income	21.92L	3L	19.16L	35.68L	52.84L
Supplemental Operating Expense Items
Net Rental Expense, Total	80.99T	1L	2L	3L	3L
Imputed Operating Lease Interest Expense	-	7L	93.97T	2L	2L
Imputed Operating Lease Depreciation	-	-5L	1L	86.39T	2L

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	11.23L	12.44L	34.96L	64.5L	77.01L
Short Term Investments - (Utility / Insurance Templates)	3L	2L	2L	2L	17.52L
Accounts Receivable, Total	4L	24.51L	5L	5L	5L
Other Receivables	12.35L	13.34L	8L	37.39L	37.16L
Accounts Receivable (Summary Subtotal)	15.91L	37.85L	12.55L	42.41L	41.93L
Inventory - (Utility Template)	-	-	72.88L	2.28Cr	4.78Cr
Deferred Tax Assets Current	25.48T	17T	17T	15.32T	-
Other Current Assets, Total	-2	-	-	1.14Cr	-
Total Current Assets	30.49L	52.83L	1.23Cr	4.52Cr	6.15Cr
Gross Property Plant And Equipment	15.65L	15.56L	15.98L	22.88L	22.77L
Accumulated Depreciation	-2L	-3L	-4L	-4L	-5L
Net Property Plant And Equipment	13.16L	12.59L	12.33L	18.47L	17.56L
Goodwill	12.03L	10.79L	32.23L	1.31Cr	98.7L
Other Intangibles, Total	3L	8L	14.02L	39.84L	53.36L
Long-Term Investments - (Utility Template)	4L	36.59L	52.02L	53.9L	48.39L
Deferred Charges Long-Term	1L	10.02L	7L	6L	3L
Other Long-Term Assets, Total	23.34L	4L	13.27L	45.12L	96.69L
Total Assets	86.6L	1.35Cr	2.54Cr	7.47Cr	9.33Cr
Liabilities
Accounts Payable, Total	2L	5L	9L	16.18L	15.85L
Accrued Expenses, Total	1L	2L	5L	8L	6L
Current Portion of Long-Term Debt	1L	3L	19.83L	47.36L	82.54L
Current Income Taxes Payable	3L	7L	12.42L	25.37L	15.39L
Other Current Liabilities - (Bank / Utility Template)	3L	2L	4L	1.19Cr	10.2L
Total Current Liabilities	11.21L	19.05L	50.15L	2.16Cr	1.3Cr
Long-Term Debt	9L	13.5L	62.11L	2.45Cr	2.51Cr
Unearned Revenue Non Current	-	569	-	-	-
Pension & Other Post Retirement Benefits	3L	3L	4L	4L	5L
Other Non Current Liabilities, Total	7L	7L	15.18L	36.4L	1.02Cr
Total Liabilities	30.23L	42.6L	1.31Cr	5.02Cr	4.88Cr
Common Stock, Total	3L	4L	4L	5L	6L
Additional Paid In Capital	11.73L	44.85L	45.13L	73.85L	1.65Cr
Retained Earnings	36.29L	38.92L	64.44L	1.09Cr	1.41Cr
Treasury Stock	-	-2L	-4L	-7L	-10L
Comprehensive Income and Other	2L	3L	2L	4L	3.08T
Total Common Equity	53.21L	88.47L	1.11Cr	1.84Cr	3.02Cr
Minority Interest	3L	4L	11.65L	61.1L	1.43Cr
Total Equity	56.36L	92.22L	1.23Cr	2.45Cr	4.45Cr
Total Liabilities And Equity	86.6L	1.35Cr	2.54Cr	7.47Cr	9.33Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	-	82.14L	-	-
ECS Total Common Shares Outstanding	-	-	82.14L	-	-
Book Value / Share	-	-	1.36	-	-
Tangible Book Value	38.2L	69.27L	65.13L	12.46L	1.5Cr
Tangible Book Value Per Share	-	-	0.79	-	-
Total Debt	10.44L	16.42L	81.94L	2.93Cr	3.33Cr
Net Debt	-4L	2L	44.89L	2.26Cr	2.39Cr
Debt Equivalent Oper. Leases	6L	11.39L	16.98L	24.55L	27.53L
Minority Interest, Total (Incl. Fin. Div)	3L	4L	11.65L	61.1L	1.43Cr
Equity Method Investments, Total	2T	32T	42.25T	92.25T	23.21L
Account Code - Inventory Valuation	-	3	3	3	3
Inventories - Work In Process, Total	-	-	72.88L	2.28Cr	4.78Cr
Land - (BS)	-	-	-	6L	5L
Buildings, Total	3L	3L	3L	3L	3L
Machinery, Total	11.6L	11.65L	11.8L	12.15L	12.66L
Full Time Employees	-	22	35	42	44

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	34.85L	3L	22.42L	29L	52.18L
Depreciation, Depletion & Amortization	2L	72.01T	73.79T	76.96T	80.12T
Amortization of Goodwill and Intangible Assets - (CF)	1L	2L	2L	12.98L	12.96L
Total Depreciation, Depletion & Amortization	3L	2L	2L	13.75L	13.77L
Amortization of Deferred Charges, Total	-	2L	2L	2L	3L
(Gain) Loss On Sale of Asset - (CF)	-50.4L	-	-	-23.96T	-
Total Asset Writedown	-	-	-	-	1L
Provision and Write-off of Bad Debts	2L	-	-	-	-
Change in Accounts Receivable	94.73T	-20.95L	19.96L	-47.42T	-73.34T
Change In Inventories	-	-	-72.88L	-1.56Cr	-2.5Cr
Change in Accounts Payable	8.16T	2L	4L	7L	-32.5T
Change in Other Net Operating Assets (Collected)	-2L	1L	8L	87.79L	19.67L
Other Operating Activities	2L	3L	21.2L	31.49L	70.74L
Cash from Operations	-10.04L	-7L	8L	15.72L	-90.85L
Capital Expenditure	-34.99T	-15.63T	-28.62L	-1.39Cr	-60.11T
Sale of Property, Plant, and Equipment	34.62L	-	-	-	-
Purchase / Sale of Intangible Assets	-4L	-17.04L	-48.09T	-7L	-14.06L
Investment in Marketable and Equity Securities, Total	-4L	-13.55L	-22.35L	-1.4Cr	-67.76L
Other Investing Activities, Total	1	1	-	-	-
Cash from Investing	26.36L	-30.74L	-51.46L	-2.86Cr	-82.42L
Long-Term Debt Issued, Total	8L	7L	70.24L	2.31Cr	74.01L
Total Debt Issued	8L	7L	70.24L	2.31Cr	74.01L
Short Term Debt Repaid, Total	-17.32L	-66.34T	-	-	-
Long-Term Debt Repaid, Total	-9L	-7.46T	-5L	-20.5L	-33.38L
Total Debt Repaid	-25.84L	-73.8T	-5L	-20.5L	-33.38L
Issuance of Common Stock	11.05L	33.06L	3L	91.98L	1.48Cr
Repurchase of Common Stock	-	-	-2L	-3L	-3L
Other Financing Activities, Total	-1	-	-	-	-
Cash from Financing	-7L	39.04L	66.26L	3Cr	1.86Cr
Miscellaneous Cash Flow Adjustments	-	-1	-	-	1
Net Change in Cash	10L	1L	22.52L	29.54L	12.51L
Supplemental Items
Cash Income Tax Paid (Refund)	4.98T	-	-	-	-
Net Debt Issued / Repaid	-17.62L	6L	65.52L	2.11Cr	40.64L
Levered Free Cash Flow	-	-25.82L	-30.77L	-2.53Cr	-1.79Cr
Unlevered Free Cash Flow	-	-21.01L	-29.07L	-2.43Cr	-1.67Cr
Change In Net Working Capital	-	15.52L	33.38L	1.62Cr	2.56Cr

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-	6.43	14.68	9.7	10.43
Return on Total Capital	-	8.11	18.2	13.07	13.31
Return On Equity %	-	3.66	28.15	18.04	21.83
Return on Common Equity	-	3.71	22.43	19.65	21.48
Margin Analysis
Gross Profit Margin %	12.8	61.53	195.24	278.32	1.05T
SG&A Margin	85.93	27.7	45.86	59.01	191.81
EBITDA Margin %	-105.18	33.37	133.03	207.01	820.96
EBITA Margin %	-121.8	31.6	131	205.26	816.68
EBIT Margin %	-133.54	27.85	126.19	175.88	747.55
Income From Continuing Operations Margin %	379.89	6.65	83.71	75.16	401.55
Net Income Margin %	381.07	6.43	61.95	65.66	278.28
Net Avail. For Common Margin %	381.07	6.43	61.95	65.66	278.28
Normalized Net Income Margin	239.73	6.28	52.94	80.79	281.78
Levered Free Cash Flow Margin	-	-63.17	-85.02	-573.33	-954.12
Unlevered Free Cash Flow Margin	-	-51.42	-80.32	-549.51	-890.04
Asset Turnover
Asset Turnover	-	0.37	0.19	0.09	0.02
Fixed Assets Turnover	-	3.17	2.9	2.87	1.04
Receivables Turnover (Average Receivables)	-	2.82	2.38	8.01	3.23
Inventory Turnover (Average Inventory)	-	-	-	-0.52	-0.51
Short Term Liquidity
Current Ratio	2.72	2.77	2.45	2.1	4.74
Quick Ratio	2.7	2.77	0.99	0.51	1.05
Operating Cash Flow to Current Liabilities	-0.9	-0.37	0.15	0.07	-0.7
Days Sales Outstanding (Average Receivables)	-	129.23	153.45	45.69	112.98
Days Outstanding Inventory (Average Inventory)	-	-	-	-700.06	-722.34
Average Days Payable Outstanding	-	81.49	-	59.48	81.81
Cash Conversion Cycle (Average Days)	-	-	-	-713.84	-691.17
Long Term Solvency
Total Debt/Equity	18.52	17.81	66.6	119.57	74.94
Total Debt / Total Capital	15.63	15.12	39.98	54.46	42.84
LT Debt/Equity	15.98	14.64	50.49	100.23	56.39
Long-Term Debt / Total Capital	13.48	12.42	30.3	45.65	32.23
Total Liabilities / Total Assets	34.91	31.6	51.56	67.2	52.3
EBIT / Interest Expense	-3.54	1.48	16.78	4.62	7.29
EBITDA / Interest Expense	-2.79	1.77	17.69	5.43	8.01
(EBITDA - Capex) / Interest Expense	-2.89	1.75	7.17	-2.82	7.98
Total Debt / EBITDA	-1.09	1.2	1.7	3.2	2.17
Net Debt / EBITDA	0.4	0.12	0.93	2.47	1.55
Total Debt / (EBITDA - Capex)	-1.05	1.22	4.2	-6.17	2.17
Net Debt / (EBITDA - Capex)	0.39	0.12	2.3	-4.76	1.56
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	346.94	-9.93	22.04	-57.54
Gross Profit, 1 Yr. Growth %	-	2.05T	188.91	73.98	60.53
EBITDA, 1 Yr. Growth %	-	-241.77	201.59	80.88	63.91
EBITA, 1 Yr. Growth %	-	-215.97	211	82.01	64.4
EBIT, 1 Yr. Growth %	-	-193.21	301.19	70.1	80.46
Earnings From Cont. Operations, 1 Yr. Growth %	-	-92.18	1.01T	9.58	126.85
Net Income, 1 Yr. Growth %	-	-92.46	753.61	29.35	79.96
Normalized Net Income, 1 Yr. Growth %	-	-88.29	646.24	86.23	48.09
Net Property, Plant and Equip., 1 Yr. Growth %	-	-4.29	-2.04	49.74	-4.9
Inventory, 1 Yr. Growth %	-	-	-	213.35	109.47
Accounts Receivable, 1 Yr. Growth %	-	588.54	-81.45	10.43	-5.13
Total Assets, 1 Yr. Growth %	-	55.69	88.38	193.98	24.94
Tangible Book Value, 1 Yr. Growth %	-	81.33	-5.86	-80.86	1.1T
Cash From Operations, 1 Yr. Growth %	-	-29.36	-208.81	103.71	-677.98
Capital Expenditures, 1 Yr. Growth %	-	-55.34	18.21T	385.12	-99.57
Levered Free Cash Flow, 1 Yr. Growth %	-	-	17.35	722.97	-29.34
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	35.73	734.95	-31.23
Common Equity, 1 Yr. Growth %	-	66.27	25.89	65.02	64.38
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	98.93	4.85	-28.02
Gross Profit, 2 Yr. CAGR %	-	-	676.99	124.2	67.12
EBITDA, 2 Yr. CAGR %	-	-	123.72	139.32	74.52
EBITA, 2 Yr. CAGR %	-	-	106.3	143.87	75.35
EBIT, 2 Yr. CAGR %	-	-	93.38	161.23	75.2
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-6.62	249.53	57.67
Net Income, 2 Yr. CAGR %	-	-	-19.79	232.29	52.57
Normalized Net Income, 2 Yr. CAGR %	-	-	-6.52	272.79	66.07
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-3.17	21.11	19.33
Inventory, 2 Yr. CAGR %	-	-	-	-	156.2
Accounts Receivable, 2 Yr. CAGR %	-	-	13.03	-54.74	2.36
Total Assets, 2 Yr. CAGR %	-	-	71.26	135.33	91.65
Common Equity, 2 Yr. CAGR %	-	-	44.68	44.13	64.7
Tangible Book Value, 2 Yr. CAGR %	-	-	30.56	-57.56	51.8
Cash From Operations, 2 Yr. CAGR %	-	-	-12.33	48.88	243.13
Capital Expenditures, 2 Yr. CAGR %	-	-	804.44	2.88T	-85.51
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	210.76	141.14
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	236.64	139.62
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	69.03	-22.43
Gross Profit, 3 Yr. CAGR %	-	-	-	371.82	100.57
EBITDA, 3 Yr. CAGR %	-	-	-	111.83	112.86
EBITA, 3 Yr. CAGR %	-	-	-	101.15	115.78
EBIT, 3 Yr. CAGR %	-	-	-	85.28	130.93
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-1.51	202.62
Net Income, 3 Yr. CAGR %	-	-	-	-5.94	170.85
Normalized Net Income, 3 Yr. CAGR %	-	-	-	17.63	174.05
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	11.98	11.73
Accounts Receivable, 3 Yr. CAGR %	-	-	-	12.15	-42.07
Total Assets, 3 Yr. CAGR %	-	-	-	105.06	90.56
Common Equity, 3 Yr. CAGR %	-	-	-	51.16	50.59
Tangible Book Value, 3 Yr. CAGR %	-	-	-	-31.16	29.45
Cash From Operations, 3 Yr. CAGR %	-	-	-	16.12	133.99
Capital Expenditures, 3 Yr. CAGR %	-	-	-	634.86	56.68
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	89.67
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	98.27