Audax Renovables is committed to gaining market share in the first half of 2021

• Significantly increases its income to almost 700 million euros.
• The Gross Margin reached 54 million euros in the first half of 2021, while the EBITDA stood at 18.2 million euros
• The outstanding increase in its client portfolio allows the Audax Group to remain the first independent electricity marketer in the SME segment in Spain.

Audax Renovables (ADX.MC), the energy group that integrates the businesses of generation and marketing of renewable electricity and gas, has increased, in the first half of the year, its income by 71% compared to the same period of the previous year, up to place them at 692 million euros. In this same period, the Group's EBITDA stood at 18.2 million euros, a lower 201Q3Q, obtaining a negative result of 3.6 million euros, all taking into account the current exceptional circumstances of the markets.
In a context still marked by the effects of the COVID-19 pandemic, the first half of 2021 continues to encompass a gradual improvement in global economic sentiment, mainly explained by the continued progress of vaccination. However, and in the face of an evident gradual increase in consumption, expectations of global recovery and growth have caused, among other factors, a very sharp increase in the price of raw materials.

With the adverse situation of the energy market, given the sharp increase in prices in the wholesale market, as well as its volatility, it is even more convenient, from a strategic point of view, to vertically integrate Audax's electricity generation and marketing activities. Renewable, in order to avoid such volatility of the pool price and bet on renewable energies that do not require the purchase of raw materials such as CO2 or natural gas.

In relation to the generation activity, with a portfolio of 2.5GW, the Group has continued with its operations in the development, construction and commissioning of its projects, all despite the slow progress by some organizations for the carrying out the start-up procedures.

Regarding marketing activity, the company increased customers by 43% in the first half of the year, reaching 549 thousand, in a clear commitment to gain market share in the future, both in customers and in energy supplied, with a view to a better market positioning, which, in the short term, means giving up part of the margin in the current situation of rising prices in which we find ourselves. This outstanding increase in its customer portfolio allows the Audax Group to remain the first independent electricity marketer in the SME segment in Spain. Likewise, as a result of this increase, the Group has been able to increase the energy supplied by 80% higher than the same period of the previous year, standing at 7.9 TWh. All of this despite continuing to face an extremely complicated year derived, not only from the impacts of COVID-19, which still persist, but from the difficult market context with rising prices in which we find ourselves. 

Despite the difficult situation described, and given the measures adopted by the Group in this complicated context, we expect a normalization of the situation during the second half of the year, thus trusting to be able to meet the magnitudes expected at the end of the year. In the words of José Elías, president and majority shareholder, “the advantages of vertical integration together with the strategic turn taken by the company in 2020, the financing obtained at the end of the previous year and subsequent TAP of the bond in the amount of 100 million euros in the current year, as well as the positioning in terms of market share, allow the Group to start from a privileged position to face with greater success the difficult market circumstances in which we currently find ourselves, as well as to undertake investments in generation with guarantees. and the financial commitments for the next 5 years, allowing us to face our future with greater peace of mind. I am convinced that this vertical integration will be a differentiating factor in relation to our competitors.” 


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 55 MWp photovoltaic in Spain. Additionally, it has 66 MW of wind power under construction in Panama as well as 21 MWp in photovoltaic projects, adding a total of 87 MW under construction, and has a photovoltaic portfolio of 2,291 MWp 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 549 thousand clients.

For more information visit /

Investor contact:

phone-handsetcrosschevron down