28 February 2020
SOLARIA EARNS A 12% MORE AND MULTIPLIES BY 5 ITS INSTALLED CAPACITY
- Excellent earnings: production +12%, revenues +9%, EBITDA +7% and net profit +12%.
- Highly competitive costs, in line with the company’s targets.
- Sharp upturn in operating capacity, from 75MW to 360MW.
Solaria achieved excellent earnings during fiscal year 2019. President Enrique Díaz-Tejeiro said that the company’s performance remains highly positive. The company’s earnings show improvement of 9% in REVENUES up to €43.6mn, and of 7% in EBITDA, up to €31.5mn, as a result of the sound operating performance of all the company’s plants. In 2019, the company reached a €23.9mn net profit, up 12% versus last year.
In 2019, the company has multiplied by 5 its assets in operation to 360MW. In addition, Solaria has entered into two significantly sized PPAs with the Swiss firm Alpiq and the Norwegian company Statkraft, for a total of 357MW. Including 65MW it obtained in the auction in Portugal, the company now has 855MW with set prices in a long-term arrangement. At this time, Solaria has over 3500MW from IVAs (Access viability reports), thus outperforming its target of installing 3.3GW by 2023.
The President added that, despite the company’s investment, it is managing its sources of financing in a highly efficient manner, with €25mn being put toward the bolstering of its cash position.