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Opdenergy cuts its losses by 77% until March, triples revenue and quadruples its Ebitda

MADRID, 29 May.

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Opdenergy cuts its losses by 77% until March, triples revenue and quadruples its Ebitda

MADRID, 29 May. (EUROPA PRESS) -

Opdenergy registered net losses of 1.89 million euros during the first quarter of this year, a figure 77.1% lower than the negative result of 8.2 million euros that it obtained in the same period of 2022, as reported on Monday. the company to the National Securities Market Commission (CNMV).

The independent producer of renewable energy shot up its income by 198% between January and March, up to 15.78 million euros, almost triple that of the same period last year.

Opdenergy's gross operating result (Ebitda) more than quadrupled in the first quarter of this year, to 7.2 million euros, while its net operating result almost quadrupled, registering an increase of 292.6%, up to a total of 2.8 million euros.

The company has highlighted that this growth is the result of the consolidation of its business as an independent producer of renewable energy and the operation with Bruc Energy, which continues to progress as planned after completing the transfer of assets to said company on May 11 .

In August 2021, Opdenergy agreed to transfer different photovoltaic solar energy projects to Bruc, including the sale of 1.1 gigawatts (GW) of projects in different parts of Spain.

Opdenergy's global portfolio of renewable assets increased in the first quarter of the year by 1.3 gigawatts (GW), reaching 15.1 GW, of which 59% are located in Europe; 25% in the United States, and 16% in Latin America. Regarding technologies, 61% is photovoltaic, 18% is wind and 21% is storage.

The firm maintains its goal of reaching 1.8 GW in operation by the end of 2023, which means almost tripling its installed capacity since it went public.

"After our debut in the Continuous Market a few months ago, we continue advancing with figures corresponding to the first quarter in clear growth and putting 225 megawatts (MW) into operation in the last three months," said Luis Cid, CEO of Opdenergy.

In the first quarter, the company has obtained prior administrative authorizations in Spain for a total of 2,320 MW, of which 320 MW correspond to projects already built; 667 MW to projects under construction, 1,101 MW to projects for the asset sale agreement with Bruc, and 231 MW to projects that the company will put under construction throughout 2023.

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