Approves the merger by absorption of its subsidiary Generación Iberia
MADRID, 13 Nov. (EUROPA PRESS) –
Audax Renovables obtained an attributable net profit of 23 million euros in the first nine months of the year, compared to the losses of 1.7 million euros that it registered in the same period of 2022, as the company reported to the Commission this Monday. National Securities Market (CNMV).
The group’s net result, adding that attributed to the parent company and that attributable to external partners, reached 25.1 million euros until September, ten times more than that achieved in the first nine months of last year.
The Spanish energy group with 100% renewable generation registered a gross operating profit (Ebitda) of 77.3 million euros between January and September, a figure that multiplies by more than two that achieved in the same period of 2022, which was 36 millions of euros.
For its part, the net operating result (Ebit) tripled, from 20.2 million euros in the first nine months of 2022 to 61.2 million euros in the same period of this year.
As a consequence of the general reduction in wholesale energy prices in Europe, with falls of more than 50% in electricity and gas, Audax reduced its income by 12% in the first nine months, to 1,788 million euros.
For its part, Audax’s gross margin improved by 69% between January and September, up to 174 million euros, “consolidating the actions carried out during recent years to increase the profitability of the business,” as highlighted by the company.
In marketing, the volume of energy supplied by Audax increased by 4%, to 10.1 TWh (terawatts per hour), while the installed power increased by 9%, to 245 megawatts (MW), and the energy generated In the period it grew by 8%, up to 214 gigawatts per hour (GWh) due to the greater photovoltaic power installed in Spain.
The company has generation projects in Spain, France, Poland, Italy, Portugal and Panama, with projects in a very advanced state of processing for 126 megawatts peak (MWp) with a favorable Environmental Impact Declaration (DIA) and 373 MWp in a very advanced state. close to ‘Ready to Build’, adding between both concepts 499 MWp, in addition to the current 26 MWp under construction and 245 MW in operation.
The group remains focused on its strategic objective of debt reduction and closed September with 293 million of net financial debt, 171 million less (-37%) compared to the 464 million in September 2022.
“This 37% reduction is the result of the good results of the year and the actions taken by the company to improve its liquidity position,” highlighted the energy group.
Audax has also informed the CNMV that its board of directors has unanimously approved the common merger project with its wholly owned subsidiary Generación Iberia, which will be absorbed by the company to “simplify the group’s corporate structure and optimize resources.”
