SOLARIA released earlier today its first-quarter earnings to stock-market regulator CNMV
The data confirm an uptrend, significantly outperforming 1Q17 earnings. EBITDA stands at €7.28mn, up 42%, and NET PROFIT amounts to €3.794mn, up 251%.
REVENUES total €8.963mn, up 31% despite an 8.9% downturn in average solar radiation in the quarter due to unfavourable weather.
At the end of 1Q18, SOLARIA’s working capital stood at €20.814mn.
The most significant developments in the first quarter were:
- Acquisition of four photovoltaic parks in Greece.
- New parks in Uruguay achieved full production capacity in the quarter.
The outstanding performance shows robust growth resulting from a new operational model that focusses on photovoltaic-based generation, with growth underpinned by development of new generation plants and acquisitions of operating plants and by ongoing optimisation of general costs and project financing.
On 13 April, SOLARIA reported to Spain’s Ministry of Energy, Tourism and Digital Agenda the locations of projects corresponding to 250MW that the company was awarded in the most recent renewables auction. The projects, the construction of which is to take place over the course of 3Q18, are part of Solaria’s 2018–20 development plan, which includes over 1,000 MW in Spain.