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Solaria's Chairman, Enrique Díaz-Tejeiro, together with Ricardo Mourinho Félix, Vice-President of the EIB.

Solaria increases net profit by 24% to 86.4 million euros and invests 261 million euros in the first nine months of the year

3Q 2023 Earning Presentation

Consolidated Management Report 3Q

 

– The company increased revenues by 43% to 172.4 million euros and EBITDA grew by 41% to 153.6 million euros compared to the same period last year.

– Given the remarkable evolution of PPA prices in Spain, the company will continue to sign new long-term energy sales agreements.

– Solaria reiterates its EBITDA target of 200 million euros by 2023.

13 November 2023

Solaria, a leading company in the development and generation of photovoltaic solar energy in Europe, today published its results for the first nine months of 2023.

During this period, Solaria has maintained an exponential growth in all items of its income statement: revenues increased by 43% to 172.4 million euros, EBITDA increased by 41% to 153.6 million euros and net profit grew by 24% to 86.4 million euros.

These results are due to the achievement of the company’s strategic objectives, as well as the increase in energy production from the new plants. This energy production has increased from 1,143 GWh during the first nine months of 2022 to 1,845 GWh at 30 September 2023, which corresponds to a 61% increase. The company has also invested 261 million euros during this period.

Improving price environment

It is worth highlighting the good evolution of PPA prices in Spain, which have risen by 50% in the last two years. In this context, Solaria has signed a 100 MW PPA in September and will continue to close new agreements in the coming quarters.

In addition, the fall in the construction costs of photovoltaic solar plants, mainly associated with the sharp drop in photovoltaic modules and logistics, improve the company’s competitiveness.

These factors strengthen Solaria’s strategic position in the short, medium and long-term. In fact, the company reiterates its EBITDA forecast of 200 million euros by the end of 2023.

According to Solaria’s Chairman, Mr. Enrique Díaz-Tejeiro: “We continue to meet our strategic objectives; investing and committing to a decarbonised society. The good evolution of PPA prices combined with the sharp fall in construction costs will allow us to consolidate a good long-term profit.

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