Audax achieves EBITDA of €88.3 million through September, a 14% increase

 

●  The net result stands at €48.2 million (+92%), confirming the positive impact of strategic decisions implemented in previous years.

●  The company reaffirms this quarter is on track with the previous year’s close, based on improved profitability and growth in its results.

●  Net financial debt is reduced by 9.0% compared to the previous year, reaffirming the Group’s commitment to financial sustainability.

 

November 13, 2024 – Audax Renovables, S.A. (ADX.MC), a vertically integrated Spanish energy group that generates and supplies 100% renewable electricity and gas across nine European countries, has published its financial results for the third quarter of the year, showing a 14.1% growth in EBITDA, reaching €88.3 million.

The company’s strong performance this quarter was driven by increased production from its photovoltaic plants, particularly in Spain, where total generation exceeded the same period last year by 8.1%, reaching 231 GWh.

The strategic focus on optimizing its energy portfolio has allowed the company to maintain stable revenue and strengthen its gross margin, especially in European markets.

Audax’s operating revenues reached €1,388.8 million, a 22.3% decrease compared to the previous year, aligning with the sector’s general trend due to falling energy prices. However, this reduction has not impacted profitability, supported by improvements in the gross margin.

The company continues its strategy of targeting the industrial customer market (SMEs and large clients), increasing supply points by 15.6% and the energy portfolio by 19.8% compared to the same period last year. This growth in supply points and energy portfolio has occurred in both commodities, electricity and gas, with supply points increasing by 14.8% and 18%, respectively, and the energy portfolio by 15.3% and 30.1%, respectively.

The total energy supplied by Audax until the third quarter of 2024 is 11.1 TWh, compared to 10.1 TWh for the same period last year (+9.2%). Electricity supplied represents 71% (7.9 TWh), while gas accounts for 29% (3.2 TWh) of the total, compared to 72% (7.3 TWh) and 28% (2.8 TWh) in the same period last year, respectively.

In line with its debt reduction strategy, Audax has managed to reduce its net financial debt by 9% compared to the same period last year, down to €266.4 million. This improvement is reflected in a net financial debt/EBITDA ratio of 2.5x, demonstrating sustained progress towards financial sustainability.

The strong performance in this year so far translates into increased value for shareholders, for whom an annual distribution policy of €15 million for the coming years was approved. As of the publication date, the first distribution has been made.

Audax Renovables is also advancing its commitment to ESG standards, ranking in the global Top 10 on Sustainalytics’ low-risk rating. This recognition reinforces the company’s commitment to sustainability and its role in the energy transition.

 

 

About Audax Renovables

Founded in 2000, Audax Renovables is a vertically integrated energy group that generates 100% renewable energy and supplies electricity and gas, with a presence in 9 countries.

Currently, it has a portfolio of wind and photovoltaic parks in Spain, Portugal, Italy, France, Poland, and Panama in operation, under construction, and in various development stages, reaching 1.0 GW. In its commercialization activity, the group, led by José Elías Navarro, supplies electricity and gas to more than 393,000 clients in Spain, Portugal, Italy, Germany, Poland, the Netherlands, Hungary and leads the SME segment in Iberia.

Audax started trading on the Spanish secondary market in 2003 and joined the continuous market in 2007, becoming part of the IBEX SMALL CAP ® index in March 2020. Its market capitalization currently exceeds €850 million, and it has a team of approximately 800 professionals.

For more information, visit www.audaxrenovables.com

Audax achieves EBITDA of €88.3 million through September, a 14% increase

 

●  The net result stands at €48.2 million (+92%), confirming the positive impact of strategic decisions implemented in previous years.

●  The company reaffirms this quarter is on track with the previous year’s close, based on improved profitability and growth in its results.

●  Net financial debt is reduced by 9.0% compared to the previous year, reaffirming the Group’s commitment to financial sustainability.

 

November 13, 2024 – Audax Renovables, S.A. (ADX.MC), a vertically integrated Spanish energy group that generates and supplies 100% renewable electricity and gas across nine European countries, has published its financial results for the third quarter of the year, showing a 14.1% growth in EBITDA, reaching €88.3 million.

The company’s strong performance this quarter was driven by increased production from its photovoltaic plants, particularly in Spain, where total generation exceeded the same period last year by 8.1%, reaching 231 GWh.

The strategic focus on optimizing its energy portfolio has allowed the company to maintain stable revenue and strengthen its gross margin, especially in European markets.

Audax’s operating revenues reached €1,388.8 million, a 22.3% decrease compared to the previous year, aligning with the sector’s general trend due to falling energy prices. However, this reduction has not impacted profitability, supported by improvements in the gross margin.

The company continues its strategy of targeting the industrial customer market (SMEs and large clients), increasing supply points by 15.6% and the energy portfolio by 19.8% compared to the same period last year. This growth in supply points and energy portfolio has occurred in both commodities, electricity and gas, with supply points increasing by 14.8% and 18%, respectively, and the energy portfolio by 15.3% and 30.1%, respectively.

The total energy supplied by Audax until the third quarter of 2024 is 11.1 TWh, compared to 10.1 TWh for the same period last year (+9.2%). Electricity supplied represents 71% (7.9 TWh), while gas accounts for 29% (3.2 TWh) of the total, compared to 72% (7.3 TWh) and 28% (2.8 TWh) in the same period last year, respectively.

In line with its debt reduction strategy, Audax has managed to reduce its net financial debt by 9% compared to the same period last year, down to €266.4 million. This improvement is reflected in a net financial debt/EBITDA ratio of 2.5x, demonstrating sustained progress towards financial sustainability.

The strong performance in this year so far translates into increased value for shareholders, for whom an annual distribution policy of €15 million for the coming years was approved. As of the publication date, the first distribution has been made.

Audax Renovables is also advancing its commitment to ESG standards, ranking in the global Top 10 on Sustainalytics’ low-risk rating. This recognition reinforces the company’s commitment to sustainability and its role in the energy transition.

 

 

About Audax Renovables

Founded in 2000, Audax Renovables is a vertically integrated energy group that generates 100% renewable energy and supplies electricity and gas, with a presence in 9 countries.

Currently, it has a portfolio of wind and photovoltaic parks in Spain, Portugal, Italy, France, Poland, and Panama in operation, under construction, and in various development stages, reaching 1.0 GW. In its commercialization activity, the group, led by José Elías Navarro, supplies electricity and gas to more than 393,000 clients in Spain, Portugal, Italy, Germany, Poland, the Netherlands, Hungary and leads the SME segment in Iberia.

Audax started trading on the Spanish secondary market in 2003 and joined the continuous market in 2007, becoming part of the IBEX SMALL CAP ® index in March 2020. Its market capitalization currently exceeds €850 million, and it has a team of approximately 800 professionals.

For more information, visit www.audaxrenovables.com