UniCredit Gives a 1.5M ESG Loan to Elettromar Industrial Automation

Grosseto-based Elettromar spa, an engineering and construction company that offers solutions geared toward the optimization of production processes through the creation of integrated industrial automation systems, has obtained a €1.5 million green loan from UniCredit, which is 80 percent backed by a guarantee from the SME Guarantee Fund, managed by MCC on behalf of the Ministry of Economic Development. The transaction, which has a three-year amortization period, is aimed at supporting the company in streamlining its supplier payment operations.

More specifically, the loan is part of the Finanziamento Futuro Sostenibile program, through which UniCredit finances companies that want to improve the sustainability of their business, and provides for the recognition, at the time of disbursement, of a reduction in the rate compared to the offered conditions provided for these operations, subject to the achievement or maintenance of specific objectives.

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Elettromar has committed to developing within three years a number of corporate welfare programs and to including in its workforce people with disabilities or belonging to protected categories

On the first point, the company has already started the implementation of OneFlex, a Welfare platform for the effective management of Flexible Benefits plans, which guarantees workers online access to all the benefits granted by Italian regulations, with a significant increase in employee benefits through a wide panel of services and conventions. For the second objective, on the other hand, the Maremma soiciety, which already has to its credit 8 workers registered in the protected categories, aims to employ another 4 units by the end of the year, in addition to activating internships for the insertion of young people (including those with disabilities) into the world of work.

Elettromar was established in 1981 in Follonica (Grosseto), when the group of founding partners decided to provide the local steel and chemical-mining district with a range of electrical-instrumental installation services and activities aimed at process automation. Since then Elettromar has embarked on a path of growth that has intended to expand its scope to other activities such as environmental, paper, energy, railroad, and marine. Elettromar is able to offer custom solutions and complete assistance during all phases of project development and service worldwide. The company has headquarters in Follonica and operating units in Piombino, Florence, Massa Carrara, Pistoia, Livorno, Viareggio, Ancona and Taranto. Also in the group is the U.S. subsidiary Elettromar inc, with headquarters in Miami, Florida, and presence in Buffalo, New York, and Pittsburg, California, which just last April won an order worth more than €7 million for the mass production of switchboards for 39 subway trains in Baltimore, to be completed by 2024,

In 2021, the company exceeded €31 million in revenues, to which Elettromar Inc. added 1.2 million. 2020 ended with revenues of €23.8 million, EBITDA of about €600,000, and net debt of just over €4 million.

Andrea Fratoni, Procurement Manager and board member of Elettromar, commented, “In the last two years we have been witness to disruptive and frenetic changes for companies, society, and the economy. We had to quickly devise an appropriate strategy, resorting to operations and financial instruments that would enable us to deal with emergencies with greater strength and effectiveness to meet our operational plans agreed upon with customers and suppliers. The subsidized financing obtained from UniCredit is of strategic importance in order to be able to seize all the objectives that the international market will require. And to continue in the realization of the strategic focuses of our board, which identifies ESG issues as key drivers for business objectives, on par with technological innovation and the creation of long-term value for all stakeholders.”

Andrea Burchi, Unicredit North Central Regional Manager, concluded, “We strongly believe in companies like Elettromar that are able to leverage the levers of innovation and internationalization. And we are also happy to accompany them on a path capable of giving a strong acceleration towards an ESG strategy, generating a positive impact towards the environment, communities and good governance of the company itself. To do this, we have set up targeted solutions such as Sustainable Future Financing with which we are able to provide subsidized credit to local companies that want to improve the sustainability of their business. We thus actively help support them to seize new opportunities for growth.”

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