Audax Renovables closes the first quarter increasing its results by 6%

The comprehensive energy Group with renewable 100% generation achieved a turnover of 340 million euros and EBITDA stood at 12.8 million euros 

Audax Renovables (ADX.MC), the comprehensive energy group with 100% renewable generation, has increased its profit in the first quarter of fiscal year 2021, reaching the figure of 1.5 million euros, 6% higher than the same quarter of the previous year , despite continuing in the pandemic situation in which we find ourselves. 

The advantages of vertical integration, added to the strategic shift taken by the company in 2020 as well as the incorporation of its subsidiary in Hungary, have allowed it to increase its turnover in the first quarter of this year to 340 million euros, a 45% increase than the same period of the previous year, placing its EBITDA at 12.8 million euros.

Regarding the announcement issued by the Company at the beginning of this year, in relation to the incorporation to its portfolio of a portfolio of 1,942 MWp in generation projects that are in different stages of processing, the Group has full confidence that they represent a very relevant change of dimension in its future income structure, as well as in terms of 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 in the middle of the pandemic of 60 MWp in the provinces of Guadalajara, Toledo and Huelva.

In relation to the marketing activity, the number of clients has grown by 48% compared to the same quarter of the previous year, reaching 540 thousand active supply points, which allows the Audax Group to remain the first independent electricity marketer in the segment. SMEs in Spain. This increase in the number of customers has allowed the Group to increase the energy supplied by 63% higher than the same period of the previous year, standing at 4.4 TWh. All of this, despite continuing to face an extremely complicated year derived from the impacts generated by COVID-19, the Group has managed to increase its income by 45% higher than the same period in 2020, mainly due to an increase in average prices for the quarter. of the markets as well as a greater volume of the energy supplied.

Despite the current situation caused by COVID-19, the Group has not suffered any impact on its investment and financing strategies. 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 Renewables 
The Group is the result of the merger by absorption between Audax Renovables, SA and its parent company, Audax Energía, SA, giving rise to a comprehensive energy group with 100% renewable generation.

Audax focuses its activities on the generation of renewable 100% energy, as well as the supply of renewable 100% electricity and gas.
Founded in the year 2000, in 2003 Audax Renovables began to be listed on the secondary market of the Barcelona Stock Exchange and in 2007 it was listed on the SIBE of the Madrid Stock Exchange. Currently, it is listed on the Spanish Continuous Market under the name (ticker) ADX.MC, having been incorporated into the IBEX SMALL CAP® index on March 23, 2020.

We are the leading energy group in the SME segment in Spain, guaranteeing an efficient supply of marketed energy through a process of vertical integration with renewable generation activity, with a solid financial position, and prepared to lead the energy transition in the European market.
The Group manages a portfolio of generation projects in operation of 91 MW in wind farms in Spain, France and Poland, and 15 MWp photovoltaic in Spain. Additionally, it has 66 MW of wind power under construction in Panama. Likewise, it has a portfolio of photovoltaic projects under construction of 115 MWp and has a photovoltaic portfolio of 2,277 MW in different phases of development located in Spain, Portugal and Italy. 

Audax Renovables, in its activity of marketing renewable 100% electricity and gas, is present in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, adding more than 540 thousand clients.

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