Colruyt N: Group intends to combine the energy activities of DATS 24 and Virya Energy

[ad_1]


PRESS RELEASE – Halle (Belgium) – October 25, 2022 (5:45 p.m. CET)

Colruyt Group intends to combine the energy activities of

DATS 24 and Virya Energy

Colruyt Group intends to centralize the energy activities of DATS 24 Belgium in the energy holding Virya Energy. In light of a rapidly changing energy market and growing attention to sustainable energy, the planned combination of the strengths and expertise of DATS 24 and Virya Energy will strengthen the companies’ clout. This is part of the long-term strategy of Colruyt Group, one of the pillars of which is “Energy”, which focuses on green, renewable and above all usable energy.

Colruyt Group and DATS 24 Belgium: 50 years of experience in the field of sustainable energy and mobility

DATS 24 was established in 1972 as a fuel supplier and has since become Colruyt Group’s sustainable fuel specialist and energy supplier. DATS 24 offers all common and alternative energy sources in Belgium: petrol, diesel and AdBlue, but also natural gas (CNG), electricity and hydrogen. The ambitions of DATS 24 include promoting greener mobility and increasing the level of public acceptance of the sustainable energy transition. Today, this translates into investments in renewable energy, such as the extension of electric charging infrastructure and the construction of public hydrogen stations. DATS 24 informs and inspires individuals and companies on how to achieve more sustainable mobility through workshops, conferences and webinars.

In the financial year 2021/22, DATS 24 recorded a turnover of 798 million euros. DATS 24 has more than 70 employees.

Energy specialist Virya Energy: pioneer in sustainable energy sources

Virya Energy was founded at the end of 2019 by Colruyt Group and its majority shareholder Korys. Virya Energy is active in the development, financing, construction, operation and maintenance of sustainable energy sources, with a focus on offshore and onshore wind energy. Virya Energy, which brings together several energy expertise companies, is also active in several projects aimed at producing and marketing green hydrogen.

Joining forces and expertise in a rapidly changing market

Colruyt Group wants to continue its growth, deepen its specialist knowledge and offer a sustainable offer in four areas of expertise, of which energy is one. In the context of the current energy crisis, awareness of the energy transition has increased considerably among consumers, families and businesses. In this dynamic, thanks to its direct link with the energy consumer, DATS 24 will more than ever play its role of active and reliable guide. The intention to transfer the energy activities of DATS 24 Belgium to the energy holding company Virya Energy therefore also fits into this context.

Colruyt Group considers that the best way to realize the ambitions and growth plans of DATS 24 is to combine the activity with that of a strong and complementary market player with in-depth knowledge and expertise in the field of energy. sustainability and innovation. This should give DATS 24 the opportunity to continue the momentum of carbon-free mobility, including a focus on electrification.

DATS 24 and Virya Energy complement each other across the entire energy value chain; from development, financing, construction, operation and maintenance to the provision and provision of services. Bringing together all energy-related expertise throughout the value chain should allow both parties to reinforce each other.

Colruyt Group intends to combine the energy activities of DATS 24 and Virya Energy

p. 1 / 2

https://www.colruytgroup.com/wps/portal/cg/en/home/investors

PRESS RELEASE – Halle (Belgium) – October 25, 2022 (5:45 p.m. CET)

The intention is to finalize this transaction at the beginning of the 2023/24 financial year.

However, this will require additional studies and analyses, in particular to determine the financial conditions of the operation.

In this case, Colruyt Group will act in accordance with the applicable regulations and communicate on further developments.

Contact details

If you have any questions about this press release or for further information, please contact:

  1. Maarten Van Houdenhove (DATS 24 press officer) Tel. +32 497 51 21 48

Email: [email protected]

    1. Hanne Poppe (press officer) Tel. +32 473 92 45 10 Email: [email protected]
  • Financial journalists and analysts:
    Stefaan Vandamme (CFO) or Mélanie Squilbin (Investor Relations) Email: [email protected]

About the Colruyt Group

Colruyt Group operates in the food and non-food distribution sector in Belgium, France and Luxembourg with more than 700 own stores and around 580 affiliated stores. In Belgium this includes Colruyt Best Prices, OKay, Bio-Planet, Cru, Dreamland, Dreambaby, Bike Republic and Spar affiliate stores. In France, in addition to the Colruyt stores, there are also affiliated stores Coccinelle, CocciMarket and Panier Sympa. The group is the majority shareholder of The Fashion Society, which brings together the fashion store chains ZEB, PointCarré and The Fashion Store. JIMS operates fitness clubs in Belgium and Luxembourg. Solucious and Culinoa deliver catering and retail products to professional customers in Belgium (hospitals, SMEs, hotels, etc.). The activities of Colruyt Group also include the supply of energy by DATS 24 in Belgium (fuels, natural gas and green energy) and in France (fuels), as well as printing and document management solutions (Symeta Hybrid). The group employs more than 32,000 people and recorded a turnover of 10.0 billion euros in 2021/22. Colruyt is listed on Euronext Brussels (COLR) under ISIN code BE0974256852.

About DATS 24

DATS 24 is the fuel specialist of Colruyt Group and has a network of 144 service stations throughout Belgium. Customers can fill up with traditional and alternative fuels: petrol and diesel, but also CNG (compressed natural gas), electricity and hydrogen. 75% of its service stations are located on the site of one or more Colruyt Group store formulas. DATS 24 is the largest supplier of natural gas for vehicles in Belgium and a pioneer in green hydrogen. Eighty-five service stations are equipped with a CNG pump and one station also allows individuals to fill up with hydrogen and quickly recharge. At the same time, it also has electric charging stations in more than 150 locations. In 2020, DATS 24 started rolling out AdBlue at part of its service stations. Thanks to its rigorous environmental policy, the fuel specialist has been complying with the strict ISO 14001 standard for years. In January 2019, DATS 24 was the first in Belgium to launch mobile refueling via the Xtra app. With this initiative, he once again lived up to his pioneering tradition. This application focuses on a smooth and pleasant experience for the customer. In April 2021, DATS 24 begins to supply natural gas and 100% green local electricity to individuals and families, marking a new milestone in the history of DATS 24.

About Virya Energy

Virya Energy is active in the development, financing, construction and operation of renewable energy sources. The holding company, created at the end of 2019 by Colruyt Group and its majority shareholder Korys, holds 100% of the shares of Parkwind, Eurowatt, Eoly Energy and Sanchore. Virya Energy is ready to further develop renewable energy generation capabilities and provide services across the entire value chain of sustainable energy solutions, including storage. Virya Energy and its subsidiaries, based in Belgium, own and operate more than 1 GW of green power generation capacity worldwide and are active in numerous green hydrogen initiatives.

Colruyt Group intends to combine the energy activities of DATS 24 and Virya Energy

p. 2 / 2

https://www.colruytgroup.com/wps/portal/cg/en/home/investors

Disclaimer

Colruyt S.A. published this content on October 25, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on October 25, 2022 4:03:02 PM UTC.

Public now 2022

All the news from COLRUYT NV

Sales 2023 10,465 million
10,439 million
10,439 million
2023 net income 226M
226M
226M
Net debt 2023 826M
824M
824M
PER 2023 ratio 13.7x
2023 return 3.91%
Capitalization 3,042 million
3,034 million
3,034 million
EV / Sales 2023 0.37x
EV / Sales 2024 0.36x
# of employees 32,402
Floating 37.3%


Duration :

Period :




Colruyt NV Technical Analysis Chart |  MarketScreener

Trends in technical analysis COLRUYT NV

Short term Middle term Long term
Tendencies Bearish Bearish Bearish




Evolution of the income statement

Sale

To buy

Medium consensus UNDERPERFORMANCE
Number of analysts ten
Last closing price €23.58
Average target price €27.87
Average Spread / Target 18.2%


[ad_2]
Source link

Richard V. Johnson