IREX Index, the stock index about the performance of the small-mid cap companies in the renewable energy business listed on Borsa Italiana.
The index, published on our website and on Ansa and Staffetta Quotidiana, identifies the Italian companies listed on the stock exchange mainly operating in the renewables and smart energy business, both in technologies and in power generation, with around two billion euros of overall capitalisation.
IREX Index was launched in 2008 and now it is a fundamental reference for the renewable energies sector.
IREX Index takes into account the shares performance of thirteen companies operating in power generation from renewable sources (wind, photovoltaic, biogas, biomass and WTE), in energy efficiency, in smart energy and/or in plant building and production of components, gaining the majority of their turnover from this business.
Today, the IREX companies are:
- Enertronica Santerno
- Falck Renewables
- Frendy Energy
- Gruppo Green Power
- Iniziative Bresciane
- Seri Industrial
IREX Index, after the negative 2018 performances, in 2019 it marked a significant growth, 50,1%, thanks to the positive market trend and to the great results of some stocks.
This growth was registered thanks to the very good performances of some listed companies like Falck Renewables, that has been a value growth of 49,4% during last year.
In March 2020, the severe crisis due to the sanitary emergency, the stock exchange market fell down, with FTSE Oil&Gas and Irex that lost respectively 15% and 10% only in March. Later markets had an important recovery, with IREX outperforming the market.
Overall capitalisation of the thirteen companies listed is 1.950 million euros at the end of April 2020, growing in comparison to the 1.426 million of 2018, and with an aggregate turnover exceeding 700 million euros (Figure 1.17). There was a capitalisation growth even if two companies are not listed on the index anymore. Energy Lab failed in 2018 and PLT Energia is no longer listed after the recent delisting, happened in April.
The analysis of the listed companies is integrated with Irex Index Monthly, the monthly brief report about the performances of Irex Index and of the stock markets.
Among the best performances it is important to highlight the smart energy ones, with Innovatec that strengthen its core business through various activities of its restructuring plan started at the end of 2018. Another significant stock value growth is the one of Falck Renewables (+98%) thanks to the great performances and to closed operations on track with the business plan targets.