New open FAQ Sciuker Investors
We have great respect for our investors and we know that their protection and trust is as important as building strong, long-lasting products for our customers.
With the stock exchange listing, we knew that our stakeholder audience would expand with a new class of subjects: institutional investors and retail; we like to think of them as people who every day can choose to bet on Sciuker Frames as a long term investment that knows how to combine “growth” components, typical of companies with a higher growth rate, with “value” components, typical of solid, stable and resilient companies.
This new page of the section “investor relator”, was created precisely for our investors, current and future, as one of the many gestures we make to apply our philosophy: to be transparent and guarantee, to those who decide to invest in us, to do it with the maximum information available.
Below you will find all the questions we receive and our answers. We could have answered each one privately, instead we liked the idea of starting to create a community in which we invite you all to participate by sending a question to email@example.com.
Sciuker Ecospace is made up of a team of specialists with consolidated experience in both the preliminary design phase and the legal protection and condominium contracts, professionals who ensure the positive outcome of the accrual of the tax credit and the simultaneous transfer thanks to the financial know-how of the Company. Sciuker Ecospace represents the only interlocutor for clients who decide to carry out redevelopment interventions with the aim of improving the style and living comfort. The interventions are implemented through three fundamental steps: the first relating to the feasibility of the project which must include the advancement of at least two energy classes of the building based on the energy class of the individual interventions, the second relating to the drafting of the energy project and the third which it concerns the realization of the works through a pool of highly qualified companies and technicians.
The General Contractor is a company that has the mission of organizing, coordinating and optimizing building interventions of a certain complexity.
More specifically, at Sciuker Ecospace we have built a control room with specialized professionals in the design and execution of restructuring interventions pursuant to the Relaunch Decree to make the most of the incentives provided by the 110% Ecobonus.
Sciuker Ecospace presents an integrated offer and a single interlocutor for condominiums, condominium administrators and for all technicians and subcontractors; it is an end-to-end offer that also integrates the design with the insurance and financial component: on the one hand, the joint owners (clients) carry out energy redevelopment interventions in complete safety at zero expense, and on the other hand all companies and professionals who participate in the planning and execution of interventions, working organically and with centralized coordination. The company mission is to improve the style and living comfort through energy redevelopment, but also to reduce CO2 emissions to safeguard the planet. The building shell, in fact, represents one of the main factors to minimize the emission of CO2 into the environment.
The signing of a contract by Sciuker Ecospace marks the conclusion of the planning phase of an intervention and the beginning of the execution phase. The design phase involves all the technicians appointed by Sciuker Ecospace and the clients (condominiums) who decide on the intervention in the condominium assembly and instruct the condominium administrator to sign the contract. Following the signing, Sciuker Ecospace assigns the various tasks to the preselected subcontractors during the on boarding phase (during the establishment of the list of subcontractors).
We have also optimized this aspect to combine the flexibility of our value proposition with speed: it could take 30 days or more but, in fact, we are ready on average in a week.
This is possible by resorting to CILA (instead of SCIA that generates 30 days of non-interest-bearing time of silent consent), and by framing the intervention as “localized improvement works”, even in case of earthquake bonus; this last measure allows us not to carry out an investigation to the Genio Civile which on average takes over 30 days of time.
The contracts we stipulate with joint owners refer to all the driving and towing interventions provided for by the Relaunch Decree: thermal insulation, fixtures, thermal systems, photovoltaic system, etc. Clearly, we do not intervene on all condominiums with all categories of possible interventions even if, with respect to the potential pipeline, we tend to choose condominiums that have a higher ratio between the amount of work and Ecospace margins.
Therefore, each intervention is a unique combination and requires the development of a specific business plan; to date we have selected interventions that will leave between 20% and 25% margin for Ecospace.
Up to now we have selected interventions that will leave between 20% and 25% margin for Ecospace alone; to this margin is added Sciuker Frames’one in the production of the fixtures installed exclusively on all the qualification interventions awarded and carried out by Ecospace. In terms of risks, we have integrated an all risk policy, provided by a leading international insurance company, much more secure than the compulsory insurance required by law; this policy provides a “CAR Master” designed specifically for General Contractors, which covers the risk deriving from the simultaneous work of several subjects on a construction site as well as a coverage that protects the general contractor and the clients from any defect on the works carried out by subcontractors for 10 years from the conclusion of the works.
Another very important moment for hedging risks are the risk assessment activities. An activity, specific for each site, requires that prior to the start of the works an assessment is made of the individual insurances of technicians and subcontractors involved in the work, to verify that these insurances are congruous and adequate to the level of risk assumed.
This risk assessment, mainly of an insurance nature, is only the second step that is put in place in preparation for the start of the works; the first risk assessment activity is carried out during the on-boarding of the sub-contracting companies which are assessed, also through independent specialized information providers, in terms of reliability and reputation, as well as economic-financial and equity soundness. Only the companies assessed as suitable enter the list of potential subcontractors and are periodically re-evaluated to ensure compliance with the requirements on an ongoing basis.
The current production plant of Sciuker Frames, organized on 3 daily shifts 7 days a week, has a capacity to produce frames for over 30M of turnover. Today we travel on 2 shifts a day 5 days a week. We have already trained 1/3 of the 70 skilled workers we are adding to the work team who will lead us to bring the plant to full capacity from January 1, 2021.
8. How will the company fulfill the expected (and desirable) increase in output related to state incentives of 110%? is there a risk of making large investments in production capacity which then, once the 110% boom is exhausted (and so the revenues will physiologically deflate), will hurt on future exercises in the form of amortization? (Luigi P.)
In addition to the answer to question 4, consider that we have expanded the structure of 4000 square meters intended for the logistics phase, thus extending the production space and the storage space in order to make the warehouse more efficient and have more space in production. The measurements and installation were sub-contracted to three external teams.
In summary, to carry out the building interventions that we have estimated, the investments in Sciuker Frames will be those already foreseen by the development plans; the rest will be variable costs.
We have been designing and manufacturing eco-sustainable products classified as durable goods for ¼ of a century, the pandemic will pass in the next 6 or 9 months and also thanks to Ecospace we will come out even stronger. We have worked to build a business model and a team that knows how to adapt to market changes; with solid foundations no future can be negative.