SOLARIA’s full-year earnings show NET SALES of €31.124mn (up 96%), EBITDA of €28.559mn (up 130%) and NET PROFIT of €15.011mn (up 87%).
The figures practically double those of the preceding year, revealing outstanding performance and surging growth. The excellent results were underpinned by a new operating model that focusses on photovoltaic-based generation, with growth driven by the development of new power plants, the acquisition of operative plants and the ongoing optimisation of overheads and project finance costs.
Solaria ended 2017 with €20.941mn in working capital.
Over the course of the year, SOLARIA managed to issue and place over €100mn in three project-bond offerings through top-ranked institutional investors such as Rivage Investment and Blackrock. The offerings have allowed Solaria to optimise significantly its financial debt, which has enhanced its investment capacity.
In addition to Solaria’s completion of construction of two parks in Uruguay, the company also acquired three new photovoltaic parks: Magacela Solar and Técnicas Ambientales in northern Spain and Serre Uta in Italy.
Also worth noting is Solaria’s successful participation in Spain’s most recent renewables auction in July 2017, in which the company was allocated 250MW, to be constructed and connected by the end of 2019.