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STATEMENT: Power Electronics reaches historic figures in 2023, billing more than 1.1 billion euros

(Information sent by the signatory company).

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STATEMENT: Power Electronics reaches historic figures in 2023, billing more than 1.1 billion euros

(Information sent by the signatory company)

VALENCIA, Spain, March 7, 2024 /PRNewswire/ -- Power Electronics, a Spanish company that is a world leader in the manufacture of solar inverters for photovoltaic plants in Europe, Oceania and America, and a world leader in the manufacture of energy storage inverters, has presented its results corresponding to the year 2023, a period in which it has reached a record turnover figure of 1,106 million euros in revenue and 208 million euros in EBITDA.

This figure represents an increase of 75% compared to 2022 due to the growth of its Solar and Energy Storage divisions, as well as the increase in demand in the electric mobility sector, where its division has reached 100 million euros in turnover. .

Sustained growth

These results confirm the sustained growth and solvency that the Valencian multinational is experiencing where, at the end of the year, it has more than 3,000 employees and has a presence in more than 100 countries.

New facilities in Spain and the United States

With the aim of consolidating its leadership position and continuing to offer innovative and quality solutions to its customers, Power Electronics has presented its strategic plan for the period 2024-2027, announcing investments worth more than 300 million euros, which will allow it expand its productive capacities in Spain and the United States, as well as continue the development of the innovation, digitalization and productive automation strategy in all its divisions.

The plan foresees the completion of a new plant in Llíria, Valencia, for the Electric Mobility division, as well as the opening of new facilities in the United States, for the manufacture of chargers, solar inverters and storage inverters, in order to meet the growing demand of these markets.

David Salvo, CEO of Power Electronics, has expressed his satisfaction with the results obtained and has highlighted the importance of continuing to invest in innovation, technology and talent to face the challenges of the future. "We are very proud to have achieved our objectives of the 2019-2023 strategic plan, an achievement that reflects the effort, dedication and commitment of the entire Power Electronics team, as well as the important trust of our customers. Our strategic plan will allow us continue to grow and consolidate ourselves as a world leader in the power electronics sector, contributing to the development of the energy transition and sustainable mobility," says Salvo.

About Power Electronics

Power Electronics is the world leader in solar inverters for photovoltaic plants in Europe, Oceania and America, and the world leader in the manufacture of energy storage inverters. Its products are present in almost 2,000 plants in 35 countries around the world. The company closed the year 2023 with an installed AC power capacity of 91 GW, which has avoided the emission of more than 90.6 million tons of CO2 into the environment.

Photo - https://mma.prnewswire.com/media/2356678...

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