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Solaria increases its net profit by 86% to 69.7 million euros and secures new capacity of 1,200 MW

9M 2022 Results presentation

9M 2022 Management report

Solaria, a leading developer and generator of photovoltaic solar energy in Europe, today published its results for the first nine months of 2022.

During this period, Solaria has maintained an exponential growth in all items of its income statement: revenues increased by 51% to 121 million euros, EBITDA increased by 56% to 109 million euros and net profit grew by 86% to 69.7 million euros.

These results are due to the achievement of the company’s strategic objectives, as well as the increase in energy production from new plants, with the ultimate aim of accelerating the energy transition and reducing dependence on fossil fuels.

In recent weeks, Solaria has secured a new capacity of 1,200 MW. In total, the company has more than 8 GW of capacity with connection points in Italy, Portugal and Spain, equivalent to 132% of its 2025 target of 6.2 GW.

Financial strength

Solaria enjoys an excellent financial situation. It has also just signed a 134 million euro financing agreement with Banco Sabadell for the construction of 285 MW of projects located in Castilla y León. Thanks to this operation, the 2 GW that Solaria has in operation and under construction are already financed. In addition, it should be noted that the company has a very competitive average cost of debt of 3% and that the rise in interest rates does not harm its situation, given that 85% of its debt is at a fixed rate.

According to the Chairman of Solaria, Mr. Enrique Díaz-Tejeiro: “We continue to consolidate the company, year after year, thanks to the exponential increase in our results and the strong growth of our assets in operation and construction, which already amount to 2GW. We continue to invest and bet on a future in which the energy model is renewable and free of polluting gases. We are proud to say that we already have 8 GW of capacity secured in Spain, the equivalent of 132% of our target of 6.2 GW by 2025”.

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