VERGNET: First report of the 3R plan launched in 2022 – 01/16/2023 at 08:25

First assessment of the 3R plan launched in 2022.

The first results are here

Elms, January 16, 2023

Vergnet draws up an initial assessment of the 3R strategic plan initiated in the summer of 2022 by the group’s new management. Plan intended to return to the path of development and growth in order to make the Group a known and recognized French leader in the renewable energy market.

First, the company reconnected with its DNA and its genetic mission to assert itself as a ”

virtuous creator of energy independence since 1989

“.

After 5 months of implementation, it is clear that

the 3R Plan has materialized through numerous initiatives, measures and actions.

Regarding

“Renewal” section

:

• A
  
  new organization
  
  designed to strengthen commercial and operational efficiency, innovation and the diversification of the solutions offered by Vergnet.

  • Creation of new Departments: Sales, Marketing/Communication and Legal

  • Arrival of several employees at the Group’s various sites

• A
  
  new identity and a new logo
  
  to clearly signify the evolution of the company and its desire to write a new page in its history.

Regarding

“Revitalization” component:

• Rationalization of subsidiaries grouped around 4 areas
  
  : Europe, Asia-Oceania, Africa and Americas

• Restart of many construction sites
  
  some of which had taken a lot of delay due to internal factors and external economic reasons (Covid, difficulties in supplying materials, etc.). Thus, in particular the projects of Agadez in Niger, Ashford in Barbados, Antigua, Yap and Kosrae in Micronesia, Prony and Mont Mau in New Caledonia have been relaunched and the teams are now in working order. to carry out the progress of these projects.

• Commissioning of several plants
  
  solar panels in New Caledonia, Fiji and the islands of Wallis and Futuna.

For Cyril Ledran, CEO of Vergnet SA, “

Vergnet had to be reborn. To do this, with the teams, we have defined a new strategic vision, accomplished the necessary financial restructuring, eased tensions with suppliers, encouraged the re-motivation of the troops, accelerated the restart of construction sites. We said it and we did it. The work is far from over but the first results are there, the company is on the move and we are better equipped to face the challenges that await us”

The assessment of the 3R Plan on the “Reconquest” component (effects in financial and commercial terms) is currently being analyzed and will be announced in the coming days.

To be continued then…

About Vergnet SA

The Vergnet Group, “a virtuous creator of energy independence since 1989”, has never ceased since its inception to enable its customers to control their energy production, despite difficult or even extreme geographical and climatic conditions.

An expert in the production of renewable energies (wind, solar, hybrid) on non-interconnected networks and armed with unique technologies, the Group has developed the Hybrid Wizard, a hybrid system controlling in real time the share of renewable energies injected into the electrical network by guaranteeing operational safety and security for island or isolated networks.

The Group has already installed 1,000 wind turbines and 553 MW of all energies combined. It is present in more than 50 countries and has 200 employees in 11 locations.

Vergnet has been listed on Euronext Growth since June 12, 2007.

CONTACT

Vergnet Group

Cyril Ledran

General manager

[email protected]

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