Audax quadruples its profit in 2023, up to 31.4 million euros, and reduces income by 13%

MADRID, 28 Feb. (EUROPA PRESS) -

Audax recorded a profit of 31.4 million euros in 2023, which represents quadrupling (304%) the profits of the previous year, when they stood at 7.8 million, as reported by the company to the National Market Commission this Wednesday. of Securities (CNMV).

The firm decreased its income by 13%, to 2,293 million euros, after the general drop in the price of electricity and gas, of 53% and 65% respectively, and increased its gross operating result by 78% (Ebitda ), thus reaching 96.1 million euros, its best historical result.

In this sense, the company has highlighted that it has consolidated an Ebitda volume with a "stable" long-term forecast thanks to the vertical integration between generation and marketing activities.

Audax's gross margin stood at 236 million in 2023, 64% higher than the previous year. During the last quarter of the year and in an "exercise of prudence", the group has increased the level of coverage of the provision of its client portfolio, strengthening the quality of the balance sheet.

Audax's net financial debt was reduced to 262 million euros in 2023, compared to 368 million euros as of December 2022, which represents a decrease of 29%.

The president of Audax, José Elías, has highlighted that the "good numbers of this year confirm the success of a strategy based on vertical integration and risk diversification."

The company has also reported the signing of a repurchase and conversion contract for convertible bonds maturing in 2025.

With the execution of said contract, Audax reduces the financial debt by 41 million euros and the net financial debt by 27 million euros, giving a pro forma net financial debt at the end of the 2023 financial year of 235 million euros.