Corporate Credit Rating 2025 for EGOGREEN SRL: B1- (Affirm)

modefinance published the Solicited Corporate Credit Rating of EGOGREEN S.R.L. on the website and the rating assigned to the entity is B1- (Affirm). The analysis revealed it is a company with adequate economic and financial situation, capable of facing adverse economic conditions in the medium and long term.

EGOGREEN S.R.L. is a company that specializes in supplying electricity and natural gas. Recently accredited as a Dispatching User (UDD) for both the electricity and natural gas markets, the Company has developed a commercial strategy focused on developing a network of physical stores. This strategy aims to enhance customer loyalty by prioritizing high-quality service and offering personalized, effective assistance.

EGOGREEN S.R.L. ended 2024 with an adequate overall solvency position, supported by improvements in both key indicators compared with the previous year. The company’s financial exposure remains fully sustainable, with a negative net financial position. Liquidity management continues to be sound, and profitability—driven by the sharp increase in business volume—remains solid.

With regard to corporate governance, the Company is managed by its sole director, Mr. Marcello Giavarini, while the statutory audit is entrusted to an external professional. EGOGREEN S.R.L. is wholly controlled by CFN GENERALE FIDUCIARIA S.P.A. and does not hold controlling interests in other companies.

In terms of revenue, EGOGREEN S.R.L. demonstrates a strong market position, while its solvency profile is aligned with the median. The high return on equity enables the Company to achieve excellent profitability relative to the peer-group median.

In 2024, the Italian energy market returned to more stable conditions, with electricity and gas prices declining due to increased renewable energy production, lower consumption, and favorable weather conditions. However, prices remain above pre-crisis levels, primarily due to continued reliance on fossil fuels, which remain costly and volatile. Renewable sources, particularly solar and hydroelectric power, accounted for 50% of electricity production. To support this energy transition, Terna launched €2.3 billion worth of strategic infrastructure investments and introduced MACSE, a new mechanism to incentivize energy storage, with initial auctions scheduled for 2025. The EU increased the share of LNG in its gas imports from 20% in 2021 to 38% in 2024, offsetting reductions in Russian gas through new terminals in Piombino and Ravenna. Gas storage reached record levels, with 90% of winter 2025/26 capacity already allocated by April 2025. Nonetheless, structural vulnerabilities remain, including dependence on imports and exposure to geopolitical and climate-related risks, which require ongoing monitoring.

From a macroeconomic standpoint, economic activity in Italy remained subdued in Q4 2024, reflecting continued weakness in manufacturing and a slowdown in the services and construction sectors. Nonetheless, these sectors experienced slight expansion, partly supported by the National Recovery and Resilience Plan (PNRR). Domestic demand was constrained by slower household spending, while investment conditions remain unfavorable. In autumn, Italian goods exports were affected by a sharp decline in global demand, and going forward, protectionist policies announced by the new U.S. administration are expected to negatively impact exports to the U.S. market. According to the latest projections from the Bank of Italy, GDP grew by 0.5% in 2024 and is expected to expand at an average annual rate of around 1% over 2025–2027.

The present Corporate Credit rating is issued by modefinance under EU Regulation 1060/2009 and following amendments.

The present rating is solicited and is based on both private and public information. The rated entity and/or related third parties have provided all private information used. Modefinance had access to some accounts and other relevant internal documents of the rated entity and/or related third parties. Solicited and unsolicited ratings issued by modefinance are of comparable quality, as the solicitation status has no effect on methodologies used. More comprehensive information on modefinance Corporate Credit Ratings are available at http://cra.modefinance.com/en

The present Corporate Credit Rating is issued on MORE Methodology 2.0 and Rating Methodology 1.0. A comprehensive description of both methodologies, as well as information on Modefinance Rating Scale and Mappings, is available at http://cra.modefinance.com/en/methodologies.

For information on historical default rates of modefinance Corporate Credit Ratings please refer to ESMA Central Repository and ESMA European Rating Platform.

modefinance refers to default as a company under bankruptcy, or under liquidation status, or under administration or for which missed payments on a financial obligation are officially recorded.

The quality of the information available on the rated entity and used to determine the present rating was judged by modefinance as satisfactory. 

Please note that modefinance does not perform any audit activity and is not in a position to guarantee the accuracy of any information used and/or reported in the present document. As such, modefinance can accept no liability whatsoever for actions taken based on any information that may subsequently prove to be incorrect.

The present credit rating was notified to the rated entity in order to identify potential factual errors, as prescribed by the CRA Regulation.

No amendments were applied after the notification process.

The rated entity is not a buyer of ancillary services provided by modefinance. 

The rating action issued by modefinance was performed independently. The analysts, members of the rating team involved in the process, modefinance Srl and its members and shareholders do not have any conflicts of interest in relation to the Rated Entity and/or Related Third Parties. If in the future a potential conflict of interest is identified in relation to the persons reported above, modefinance Ratings will provide the appropriate information and if necessary the rating will be withdrawn.

The present Credit Rating is an opinion of the general creditworthiness that modefinance issues on the rated entity, and should be relied upon to a limited degree. The issued rating is subject to an ongoing monitoring until withdrawal.

Head Analyst - Tommaso Viola, Rating Analyst
tommaso.viola@modefinance.com

Responsible for Rating Approval - Pinar Dilek, Rating Process Manager
pinar.dilek@modefinance.com