Audax Renovables closes the first quarter with a 6% increase in profit

The integrated energy group with 100% renewable generation achieved a turnover of 340 million euros and EBITDA of 12.8 million euros.

Audax Renovables (ADX.MC), the integrated energy group with 100% renewable generation, has increased its profit in the first quarter of the financial year 2021, reaching 1.5 million euros, 6% higher than in the same quarter of the previous year, despite continuing in the pandemic situation worldwide.

The advantages of vertical integration, together with the strategic shift made by the company in 2020 and the incorporation of its Hungarian subsidiary, have enabled it to increase its turnover in the first quarter of this year to 340 million euros, 45% higher than in the same period of the previous year, with EBITDA standing at 12.8 million euros.

Regarding the recent announcement issued by the Company, in relation to the incorporation into its portfolio of 1,942 MWp in generation projects that are in different stages of processing, the Group is fully confident that they represent a change in dimension very relevant in its future income structure, as well as in terms of its commitment to sustainability and the environment, placing the Group’s total portfolio at 2.5 GW. It should be noted that despite the difficult situation, the Group was able to start construction work on 60 MWp in the provinces of Guadalajara, Toledo and Huelva in the middle of the pandemic.

In relation to supplying activity, the number of customers has grown by 48% compared to the previous year, reaching 540 thousand active supply points, which allows the Audax Group to maintain its position as the leading independent electricity marketer in the SME segment in Spain. This increase in the number of customers has enabled the Group to increase the energy supplied by 63% over the same period of the previous year, to 4.4 TWh. All this despite facing an extremely complicated year due to the impacts of COVID-19, the Group achieved a 45% increase in revenues compared to the same period in 2020, mainly due to an increase in average quarterly market prices as well as a higher volume of energy supplied.

Despite the current situation caused by COVID-19, there has been no impact on the Group’s investment and financing strategies derived from the situation caused by COVID-19. Audax Renovables has a solid and comfortable financial position that will allow it to continue with its roadmap regarding the development and construction of its portfolio of photovoltaic projects in the coming months.

These results, taking into account the very unusual circumstances that society in general has had to face, and that are still being faced, represent an improvement in all variables and place the energy company in an optimal position to continue with its strategic plan.

About Audax Renovables

The Group is the result of a merger by absorption between Audax Renovables, S.A. and its parent company, Audax Energía, S.A., which gave rise to an integrated energy group with 100% renewable generation.

Audax focuses its activities on the generation of 100% renewable energy, as well as the supply of 100% renewable electricity and gas.

Founded in the year 2000, in 2003 Audax Renovables became listed on the secondary market of the Barcelona Stock Exchange, and in 2007 its shares were included in the SIBE (integrated stock exchange system) of the Madrid Stock Exchange. Currently, it is listed on the Spanish Continuous Market under the ticker ADX.MC, and has been incorporated to the IBEX SMALL CAP® index since 23 March 2020.

As a leading utility Group in the SME segment in Spain, Audax Renovables guarantees efficient supply of energy retailed through a process of vertical integration with the renewable energy generation branch, has a robust financial position and is ready to be at the forefront of the energy transition in the European market.

The Group runs a portfolio of operating wind farms of 91 MW in Spain, France and Poland, and 15 MWp of photovoltaic projects in Spain. Additionally, the Group has a wind project under construction in Panama, of 66 MW. Moreover, It also has a portfolio of 115 MWp photovoltaic projects under construction and a 2,277 MWp photovoltaic portfolio in different phases of development located in Spain, Portugal and Italy.

Audax Renovables, operating as a 100% renewable energy and gas supplier, is present in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, with over 540 thousand customers.

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