Corporate Credit Rating for ENERGY4U SRL: B1- (Affirm)

modefinance has published on the website the Corporate Credit Rating (Solicited) of  ENERGY4U SRL, assigning the rating of B1- (Affirm). The analysis revealed that the company has an adequate economic-financial situation with average capability of repaying financial obligations and it is little affected by adverse economic scenarios.

ENERGY4U is an Italian company headquartered in Milan, operating in the free market for electricity and gas supply. Evolving from a business with over twenty years of experience in the condominium and energy sector, E4U primarily addresses condominium administrators, offering customized, digital, and centralized solutions. Its operational model is lean and service-oriented with a single point of contact for each client, avoiding call center intermediation and ensuring direct support. The consultative approach aims to improve operational efficiency, reduce costs, and increase transparency in procurement and energy reporting processes.
The company also provides integrated digital services for contract management, billing, and condominium accounting, as well as innovative tools such as BAZMI, FascicoloImmobiliare.net, and Energy Manager.

ENERGY4U S.R.L. demonstrates an adequate economic and financial profile, confirming a balanced capital structure (leverage ratio: 1.77x) and efficient management of short-term assets and liabilities (current ratio: 1.46x). 

From an operating standpoint, 2025 showed a significant increase in revenues (€13.74 million; +93%) and, to a lesser extent due to the simultaneous rise in operating costs, an improvement in operating margins (EBITDA: €1.99 million vs. €1.31 million). 

During the year, liquidity increased, supported by the raising of new financial debt, which nevertheless remains limited in absolute terms. It is also worth noting the increase in self-financing, which was fully absorbed by net working capital requirements. As a result, operating activities generated negative cash flow, further impacted by investment-related outflows.

The Company has a single shareholder – Group Up S.r.l. – controlled by the Mazzocchi family. In turn, the holding company does not own interests in any other businesses. The majority shareholder of Group Up, Mr. Marco Mazzocchi, also serves as Sole Director of ENERGY4U. Finally, the Company has no statutory auditors or supervisory bodies in place.

ENERGY4U S.R.L. shows a size positioning above the sector median, also supported by the strong growth in turnover. In terms of solvency, the Company ranks below the median of its peer group, although it should be noted that, on a stand-alone basis, its financial ratios remain balanced. Profitability indicators show a strong positioning, close to the top levels of the sample. Peer group analysis highlights a progressive strengthening of financial and capital structure balance, with improving trends in both leverage and financial leverage ratios. Liquidity indicators remain stable and balanced, while profitability performance confirms a solid ability to generate returns on invested and risk capital.

Between late 2025 and 2026, the global energy market continues to evolve in a context of strong electricity demand growth and rapid expansion of renewable energy sources, particularly solar and wind power. Despite the energy transition, oil and gas continue to play a central role in the global energy mix. Geopolitical tensions involving Iran and restrictions affecting the Strait of Hormuz have increased market volatility, pushing Brent crude prices above USD 110 per barrel and fueling global inflationary pressures.In Italy, electricity consumption in 2025 reached approximately 311 TWh, with renewable energy accounting for 41% of total generation and installed capacity reaching around 83.5 GW. However, the country’s strong dependence on natural gas continues to keep energy prices high, prompting the government to postpone the shutdown of certain coal-fired plants in order to ensure energy security.

From a macroeconomic perspective, the Eurozone recorded moderate but resilient growth: GDP increased by 0.9% during the first nine months of 2025, with full-year growth expected at around 1.3%. Growth has been supported by investments, a solid labor market, declining inflation, and resources allocated under the National Recovery and Resilience Plan (PNRR). The outlook for 2026 remains positive overall, although risks related to geopolitical tensions and international trade uncertainties persist.n. 

In the following table, the addressing factors, actions or events that could lead to an upgrade or a downgrade are summarized: 

The present Corporate Credit rating is published 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 adopts the following definition of default: a company in bankruptcy, in involuntary liquidation, in controlled administration, or that is insolvent with respect to an expired financial commitment. 

The quality of the information available for evaluating the rating of the analyzed company has been 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.

Modefinance provided ancillary services  to the entity (preliminary rating). Modefinance guarantees that this purchase of ancillary activities does not constitute any conflict of interest.

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 people 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 ongoing monitoring until withdrawal.

Head Analyst - Elisa Graffi, Rating Analyst
elisa.graffi@modefinance.com

Responsible for Rating Approval - Giada D'Avenia, Rating Process Manager
giada.davenia@modefinance.com