Audax Renovables enters the Hungarian market

The company acquires the 100% from the company E.ON Energiakereskedelmi Kft., a company that has a market share of the 25% in the competitive Hungarian market of SMEs, large industrial and municipal customers.

Audax Renovables (ADX.MC), the energy group that integrates the marketing and generation businesses of 100% renewable electricity, has signed a purchase and sale contract for the acquisition of 100% from the share capital of the company E.ON Energiakereskedelmi Kft., marketer Hungarian electricity company. The seller of the aforementioned shares is E.ON Hungária Zrt., a subsidiary of the German multinational E.ON, a company listed, among others, on the Frankfurt Stock Exchange.

Audax Renovables would have a market share of approximately 25% in the competitive Hungarian market of SMEs, large industrial and municipal clients, increasing its customer base by nearly 80,000 and increasing its volume of energy supplied by up to an additional 6TWh/year . Audax Renovables thus becomes one of the most relevant players in the Hungarian electricity market, which represents an important step forward in the geographical diversification of the Group.

The operation is subject to certain suspensive conditions, in addition to having to have the necessary regulatory authorizations from the competent European and Hungarian bodies, and is expected to be completed between the third and fourth quarter of this year.

The Audax Group continues with its roadmap in terms of achieving the objectives for 2022 of increasing the customer portfolio from 305,000 to 500,000 and supplying a total of 15 TWh of energy. In addition, it plans to exceed 1,500 million euros in revenue, place EBITDA above 100 million euros and reduce its financial leverage, all with the aim of optimizing the group's resources, in order to create value for its shareholders. .

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