Audax Renovables launches a virtual battery that allows its customers to use surplus energy to reduce the amount of their bill

 The surplus energy from the solar panels is converted into euros that Audax Renovables customers can deduct from their supply invoices, being able to offset up to 100% of the invoice amount.

The virtual battery allows you to redeem this surplus whenever you want, since it does not expire.

The client always has control of their accumulated surpluses, as well as the money they have available to exchange.

26 SEPTEMBER 2023.– Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that generates and supplies 100% electricity of renewable origin and gas with a presence in 9 countries, launches the virtual battery, a product that allows its clients to have control and take advantage of surplus energy that their solar panels produce.

This product allows the surplus energy generated by the solar panels to be converted into euros, accumulating them in the virtual battery and offering the customer flexibility to decide when, how and in what supply they have contracted with Audax Renovables they want to use them to reduce their bill.

Unlike the traditional simplified surplus compensation, with Audax's virtual battery it is possible to compensate up to 100% of the amount of the bill, whether for electricity or gas, being able to leave it at €0.

Its operation is very simple and it also has a specific section so that the client can manage it from their 'Customer Area'. Through the customer portal, the customer can see an intuitive dashboard from which to manage all active supply points, see how much surplus money they have accumulated and decide in which supply and in which billing period to compensate them. In addition, it allows you to consult the history of how many surpluses you have been able to accumulate and therefore see the total savings obtained thanks to the virtual battery.

For only a small monthly management cost, Audax Renovables customers can enjoy the virtual battery, a product without installation, without initial cost and without permanence. Furthermore, the surpluses accumulated in the virtual battery do not expire and can be offset at any time, as long as the client maintains an active supply at Audax Renovables.

In the words of Óscar Santos, General Director of Audax Renovables, “at Audax we take another step in sustainability and the conscious use of energy, making available to the client the management of the energy that their solar panels have already generated and giving them the freedom to deduct the amount from your next invoices. Thus, they themselves can decide when and how to take advantage of the energy already generated, having the possibility not only of choosing the time of year in which they can reduce their bills and the amount they want to deduct, but also in the supply of Audax Renovables, electricity or gas, that they have registered in the one in which they want to do it.”

The virtual battery is available for contracting from XX both for clients already active in Audax and for new contracts. Its only requirement is to have a supply point with solar panels installed for active self-consumption at Audax Renovables and to be covered by the simplified compensation mechanism.

About Audax Renewables

Founded in the year 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100 % energy from renewable sources and supplies electricity and gas to customers in 7 European countries.

Currently, it has a portfolio of wind and photovoltaic parks in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and in different phases of development that exceeds 1GW. In its marketing activity, the group chaired by José Elías Navarro provides renewable energy and gas to approximately 380,000 customers in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, and leads the SME segment in Iberia. Audax began trading on the Spanish secondary market in 2003, and in 2007 it made the leap to the continuous market. It is currently part of the IBEX SMALL CAP ® index. Its market capitalization reaches 500 million euros, and it has a team of 800 professionals.

For more information:
Roman Ginés Cañabate
g.canabate@romanrm.com | (+34) 649 214 470
Patricia González p.gonzalez@romanrm.com | (+34) 915 915 500

Audax Renovables increases its EBITDA by 47%

The company increases its gross margin by 41% during the first three months of the year, up to 50.9 million euros, while its net result increases by 18%, reaching 2.4 million.

The Board of Directors approves the 2023-2025 Strategic Sustainability Plan that defines more than 40 initiatives and projects with specific objectives that will contribute to achieving the ambition of leading the energy transition.

11 MAY 2023.– Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that generates and supplies 100% renewable electricity and gas with a presence in 9 countries, has registered an EBITDA of 23.1 million euros during the first quarter of 2023, which represents a an increase of 47% with respect to the same period of the previous year, mainly due to the improvement in results in the European markets where it is present and the gross margin assurance policy in Iberia.

 

The commitment to the strategy of vertical integration and optimization of the client portfolio, together with an increase in installed capacity (+9%) and a greater volume of energy generated, place its gross margin at 50.9 million euros, which represents an increase of 41% in relation to the same period last year, thus confirming the correct strategic decisions made in the previous year. Despite a drop of 5% in revenue, up to 697 million euros, as a result of the general decrease in prices in the markets in which it operates, the company has registered an increase of 18% in its net result, reaching 2, 4 million euros.

 

Net financial debt stands at 367 million euros compared to 527 million euros in the same period of the previous year, resulting in a decrease of 160 million euros. For its part, Audax's leverage decreased to 71.3%, compared to 73% at the end of the previous year and 78% in March 2022.

 

Increase in production thanks to the contribution of Spain

 

In relation to its generation projects, thanks to the contribution of the new photovoltaic plants commissioned in Spain in recent months, where 8 GWh more than the previous year (+23%) have been produced, Audax Renovables has increased the energy production during the first quarter of 2023 globally, standing at 76 GWh (including the production of the park in Panama, this figure increases to 72%).

 

 

Grupo Audax has a portfolio of 1.4 GW, taking into account wind and photovoltaic technology. During the first quarter of the year, the company has continued with its development, construction and start-up operations of its generation portfolio, despite the delays in carrying out administrative procedures by some agencies.

                                                                                                                              

The company has invested an accumulated total of 191 million euros in generation assets since 2020, thus continuing its commitment to generation with its own plants.

 

The total energy supplied by Audax in this first quarter of 2023 has been 3.9 TWh, in line with the previous year, where the electricity delivered to its customers represents 62% of the total while gas deliveries represent 38%. In this quarter, Audax's focus on the business segment has made it possible to maintain the volume of energy supplied, despite the 3% reduction in supply points compared to the end of 2022, as a result of the measures aimed at maximizing profitability and risk minimization. As a result of this reorientation towards the business segment, the average energy volume for each supply point has increased by 29% compared to the same period of the previous year, going from an average of 28.6 MWh/CUPS to the current 36.9 MWh/ CUPS, demonstrating the clear focus on a segment with the highest unit volume of energy for each supply point. Currently, the industrial sector represents 54% of the energy portfolio and SMEs represent 39% of the total. With regard to the domestic customer segment, it continues to decrease its weight, now representing only 7% of the total, reflecting that it is not a target segment of the Group. In aggregate data, the company has 376,000 supply points among the countries in which it operates (Spain, Italy, the Netherlands, Hungary, Portugal, Poland and Germany).

 

New Strategic Sustainability Plan 2023-2025

 

The Board of Directors of Audax Renovables has recently approved the 2023-2025 Strategic Sustainability Plan. The Plan is articulated around 4 strategic lines: environmental leadership, environmental protection, together we add and culture of compliance. This Plan defines more than 40 initiatives and projects with specific objectives that will contribute to improving its sustainability performance and achieving the ambition of leading the energy transition in the renewable energy sector, adding value to society and the planet.

 

The Strategic Sustainability Plan establishes as main environmental objectives to double the installed capacity of Audax's generation portfolio by 2025 and achieve climate neutrality by 2050. At the social level, it defines a series of objectives to promote diversity, equality, integration and conciliation, while maintaining a firm commitment to the development and well-being of its human team, as well as the local communities in which it operates. Within the scope of the model compliance, the integration of ESG aspects into internal policies and procedures is prioritized to ensure proper functioning and promote an ethical culture in the organization and with the main interest groups.

 

 

 For more information:

ROMAN

Gines Canabate

g.canabate@romanrm.com | (+34) 649 214 470

Patricia Gonzalez

p.gonzalez@romanrm.com | (+34) 915 915 500

 

 

 

 

 

 

 

 

About Audax Renewables

 

Founded in the year 2000, Audax Renovables is a vertically integrated Spanish energy group that generates energy from 100% renewable sources and supplies electricity and gas, with a presence in 9 countries.

 

Currently, it has a portfolio of wind and photovoltaic projects in operation, under construction and in different stages of development in Spain, Portugal, Italy, France, Poland and Panama, reaching 1.4 GW. In its trading activity, the group chaired by José Elías Navarro supplies electricity and gas to approximately 380,000 customers in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, and leads the SME segment in Spain as an independent retailer. Audax began trading on the Spanish secondary market in 2003, and in 2007 made the leap to the continuous market. Currently, it is part of the IBEX Small Cap® and MSCI World Small Cap indices. Its market capitalization reaches 500 million euros, and it has a team of approximately 800 professionals.

 

For more information visit www.audaxrenovables.com.

Audax Renovables maintains its Investment Grade (BBB-) rating

EthiFinance Ratings, formerly Axesor Ratings, values the company's business profile positively, based on a favorable situation in the sector of utilities associated with renewable energies, a growing geographical and client diversification, as well as the consolidated competitive advantages derived from its recent agreement of Market Access with Shell Energy. 

The agency also values positively the company's ability to present favorable profitability in a complex environment and the commitment and involvement of its majority shareholder. 

Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that generates and supplies 100% renewable electricity and gas with a presence in 9 countries, maintains its Investment Grade (BBB-) rating by EthiFinance Ratings, the former Axesor, mainly based on its current consolidated competitive position, as well as a shareholder committed to the growth and diversification of the business. 

The rating agency values positively that Audax's business profile benefits from a favorable situation in the sector of utilities associated with renewable energies, to which is added the high diversification of the client portfolio and the growing geographical diversification. It also highlights the competitive advantages of the recent agreement signed with Shell Energy Europe, which should contribute to improving their leverage ratios.

In the financial field, EthiFinance Ratings considers that, in a year marked by the high volatility of energy prices and a complex macroeconomic environment, the improvement in working capital management is noteworthy, which has allowed the company to increase cash flow of operating cash up to €151.2 M. The agency positively assesses Audax's ability to present favorable profitability under current market circumstances.  

The group presents some liquid financial instruments that give it a very favorable position of global liquidity with which to meet its financial requirements. In this sense, according to the rating agency, Audax presents favorable liquidity when comparing its sources of available funds with the expected use of funds, as well as an appropriate refinancing profile.

EthiFinance values in its rating the support and involvement of the majority shareholder of Audax, the position of 7.5% of one of the leading family offices in the Spanish market (Grupo Mayoral) and a management team with proven experience in creating value from the company.

For its part, the favorable assessment of the project portfolio and positive prospects for profit generation are seen by the rating agency as the main levers with which to increase solvency levels.

About Audax Renewables

Founded in the year 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100 % energy from renewable sources and supplies electricity and gas to customers in 7 European countries.

Currently, it has a portfolio of wind and photovoltaic farms in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and in different stages of development that exceeds 1GW. In its marketing activity, the group chaired by José Elías Navarro supplies renewable energy and gas to approximately 380,000 customers in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, and leads the SME segment in Iberia. Audax began trading on the Spanish secondary market in 2003, and in 2007 made the leap to the continuous market. It is currently part of the IBEX SMALL CAP ® index. Its market capitalization reaches 500 million euros, and it has a team of 800 professionals.
 

Audax Renovables and CEOE-CEPYME Guadalajara renew their collaboration agreement

Thanks to the agreement, the employer's members will be able to request a study on their consumption to save on their energy costs and they will be advised on the most convenient products.
The company has four photovoltaic plants in Guadalajara with a total capacity of 21.87 MW.

Guadalajara, March 22, 2023, CEOE-CEPYME Guadalajara seeking to improve the effectiveness and efficiency of companies in the province of Guadalajara, has renewed its collaboration agreement with Audax Renovables, a benchmark company in the energy sector, dedicated to the generation of 100% energy of renewable origin and to the commercialization of electricity and gas. 

The Audax Group continues with its commitment to the province, since it has four photovoltaic plants in Guadalajara with a total capacity of 21.87 MW. The photovoltaic plants of Alberizas I, II, III and IV, with a power of 5 MW, which are located in the municipality of Torija. In the municipality of Fontanar is the photovoltaic plant of Cañamares, with a power of 5 MW and the plant of La Miranda, with a power of 6.87 MW. In addition, the Carolinas I and II photovoltaic plants, with a total capacity of 5 MW, are located in the municipality of El Casar. 

The agreement has been signed by Pedro Hernández, vice president of CEOE-CEPYME Guadalajara and on behalf of Audax Renovables by Óscar Santos Juvé, General Director of Audax Renovables, accompanied by Marc Farriol, Corporate Commercial Director. The event was also attended by Óscar Rodríguez, manager of EnerSpain, a partner company of Audax Renovables. 

Thanks to this agreement, the members of the Alcarreña Employers' Association will be able to access a study of their energy consumption, at the same time that they will be advised on the different products to save on their energy costs. Audax Renovables will offer you 100% electricity rates of renewable origin, natural gas, as well as a whole portfolio of energy efficiency services and products such as the installation of photovoltaic panels or vehicle charging points. 

Those companies, SMEs and self-employed members of CEOE-CEPYME interested in the benefits of this new agreement signed by the Alcarreña Employers, can find out at www.ceoeguadalajara.es or by writing to convenioceoe@audaxrenovables.com, as well as by calling 949492989 or at 689105306 where from its customer service department a personalized study will be carried out and adjusted to the conditions of the aforementioned agreement. 

About Audax Renewables

Founded in the year 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100 % energy from renewable sources and supplies electricity and gas to customers in 7 European countries.

Currently, it has a portfolio of wind and photovoltaic farms in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and in different stages of development that exceeds 1GW. In its marketing activity, the group chaired by José Elías Navarro supplies renewable energy and gas to more than 380,000 customers in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, and leads the SME segment in Iberia. Audax began trading on the Spanish secondary market in 2003, and in 2007 made the leap to the continuous market, where it became part of the IBEX SMALL CAP ® index in March 2020. Currently, its market capitalization exceeds 600 million euros, and has a team of more than 800 professionals.

Audax Renovables joins the benchmark MSCI World Small Cap index

This stock market indicator is made up of more than 4,000 listed small-cap companies from 23 countries that are characterized by their good performance in terms of liquidity. 

The inclusion of the company in said index will become effective as of today.

 

 

Audax earns 7.8 million euros in 2022

The Group increases revenue by 56% reaching 2,633 million euros, with an EBITDA of 54 million euros, 16% higher than last year.

Audax manages to reverse the situation of losses from the previous year with a profit of 7.8 million euros.

FEBRUARY 27, 2023.– Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that generates 100% renewable energy and supplies electricity and gas to customers in 7 European countries, earns 7.8 million euros in fiscal year 2022. The Group has increased its income by 56%, reaching total sales of 2,633 million euros.  

Thanks to vertical integration, the company has been able to successfully manage the high volatility of the global energy markets, especially marked by the conflict in Eastern Europe and the increase in the price of raw materials. 

The business optimization measures implemented during the year, its market diversification policy and the increase of 9% of new installed capacity (reaching 245 MW) have resulted in an increase in its gross margin of 17%, up to 144 million, and 16% of its EBITDA (54 million euros). The result reaches 7.8 million euros compared to losses of 3.3 million noted a year earlier.  

Audax has increased the weight of generation in its contribution to EBITDA, going from 27% in 2021 to 42% in 2022, the fruits of its commitment to a vertically integrated business being committed to the generation of 100% renewable energy being notorious. The EBITDA in generation has increased substantially in relation to the end of 2021, due to the greater installed capacity and higher sales price. 

It should be noted that said generation EBITDA is given by an active portfolio valued at the end of 2022 by an independent expert at 129 million euros, leaving 130 million euros of assets in development portfolio that still do not generate EBITDA for not having reached to the operation phase, which shows the great potential of the Group's generation activity.

Regarding the gross financial debt, the company managed to reduce its level of indebtedness by 130 million euros, placing it at 642 million and thus consolidating a solid financial position that will allow it to advance in its project development roadmap and face short-term maturities. As a result of the liquidity management and capital discipline policies, the company managed to generate 152 million euros of operating cash flow, of which it allocated a total of 45 million to new investments and 146 million to reduce debt. 

Using a pro forma exercise, if the Market Access operation with Shell Energy Europe Limited in Spain had had an impact on the entire financial year 2022, Audax would have generated approximately an additional 50 million euros of cash flow.

Diversification of the client portfolio and increase in profitability
Audax continues advancing in its policy of organic and inorganic growth, which has allowed it to increase its supply points by 14% over the last four years to currently 387,000, having supplied a total of 13 TWh of energy. During the last year, due to the evolution of the markets and the risks resulting from volatility, the company has focused its efforts on strengthening profitability, implementing measures aimed at diversifying its portfolio and mitigating risk in all the countries where it operates. In this sense, the company has reduced its supply points by 25% and the volume of energy supplied by 15% compared to the previous year, which has directly translated into a positive evolution of both its gross margin and EBITDA. Currently, electricity supply points account for 80% of the total and gas supply points for the remaining 20%. 

Those countries where vertical integration is more established (mainly southern Europe) are the ones that have performed best this year. By country, Hungary is the country with the greatest weight in electricity, accounting for 45% of the total energy supplied by the group, and for the Gas business, the Netherlands leads with 52% of the total. Iberia, for its part, accounts for practically a third of the total, in both commodities.

The main focus of the company continues to be the industrial client, which represents 93% of its total portfolio. The domestic client during the financial year 2022 has reduced its weight from 11% to 7% due to the efforts in the historical target segment of the company, the SMEs. 

Favorable progress in the generation portfolio
Globally, Audax's production during 2022 stood at 258 GWh (without taking Panama into account), which translates into an increase of 29% compared to the previous year. Production in the Spanish market has increased significantly (70%) as a result of the contribution of the new photovoltaic plants, which have added 90 GWh to production. 

Regarding the evolution of the project portfolio, and as a result of meeting the milestones of RDL 23/2020 in Spain, the Audax Group portfolio stands at 1.4 GW as of the date of this report. Audax continues advancing in its planned development and construction operations, initiating works on 26 MW and putting 19 photovoltaic MW into operation. 

The Group has projects in a very advanced stage of processing for 141 MWp with a favorable Environmental Impact Declaration (DIA) and 323 MWp in a state very close to Ready to Build, totaling between both concepts 464 MWp, in addition to the 26 MWp under construction and 245 MW currently in operation.

ESG progress
During 2022, the company has strengthened its strategic direction and sustainability management with the aim of continuing to advance in ESG matters. The Board of Directors approved the new sustainability strategy this year and incorporated a new person responsible for its development and execution into the company.

The road map of this new strategy is articulated around the three pillars of Environment, Society and Corporate Governance for which actions and initiatives that improve performance have been defined and are being worked on. 

For José Elías, president of Audax Renovables, “we have once again been able to face a year in which the market has put us to the test with solvency and success. Our firm strategy for the generation of renewable energy and the optimization of the client portfolio, together with the achievement of important strategic agreements with first-rate partners, will allow us to further boost Audax's competitiveness”. 

About Audax Renewables

Founded in the year 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100 % energy from renewable sources and supplies electricity and gas to customers in 7 European countries.

Currently, it has a portfolio of wind and photovoltaic farms in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and in different stages of development that exceeds 1GW. In its marketing activity, the group chaired by José Elías Navarro supplies renewable energy and gas to more than 380,000 customers in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, and leads the SME segment in Iberia. Audax began trading on the Spanish secondary market in 2003, and in 2007 made the leap to the continuous market, where it became part of the IBEX SMALL CAP ® index in March 2020. Currently, its market capitalization exceeds 600 million euros, and has a team of more than 800 professionals.

For more information, visit www.audaxrenovables.com