The Company has communicated to the CNMV (Spanish Securities & Exchange Commission in Spanish) the signing of a significant power purchase agreement (PPA) contract with Repsol today
- In addition to the results, it is essential to add the success of the accelerated bookbuilding (ABB) for an amount of 96.8M EUR
- Solaria improves its balance sheet and secure the financing of its business plan announced in june, having initiated the execution of 400 MW projects in Spain this year.
- “Once again,” explains Enrique Díaz Tejeiro, Solaria’s President, “the profits are excellent, and show a strong growth in every line of our income statement.”
SOLARIA, the only photovoltaic company in the Spanish Stock Exchange, has significantly increased its profits in the first nine months of 2018 compared to the same period last year. “The Company’s operative evolution,” the company’s President, Enrique Díaz Tejeiro, points out, “is excellent,” increasing its INCOME by 18%, up to 29 M EUR. The EBITDA group reached 22.8M EUR, increasing a 22% and the NET PROFIT grew up a 214%to 18.52M EUR.
As of today, SOLARIA has communicated to the CNMV (Spanish Securities & Exchange Commission in Spanish) the signature of a relevant, physical power purchase agreement (PPA) contract with REPSOL for a gross power of 52 MW. This agreement will have a seven year-long duration since the facilities’ commissioning, which should start operations during the first half of 2019.
Strong growth in all business lines
In addition to these results, it is important to mention the closing of an important milestone on July 14th, whereby Solaria executed an accelerated bookbuilding (ABB) for a total amount of 96,8M EUR, which it has allowed to strengthen the balance sheet and to ensure the good financing of the strategic plan 2018-2020, having initiated this year the execution of a 400 MW project in Spain.
“Once again,” Díaz Tejeiro explains, “the profits are excellent showing a strong growth in every line of the income statement. This improvement has also been transferred to the company’s balance as a relevant increase of the equity, which it has been triplicated, and a positive working capital of 97.5M EUR.” The new data and figures Solaria presents are going to allow the firm to progress in its expansion plan.
The agreement signed with REPSOL is, as well, an important milestone in the face of new projects’ development, since it ensures the medium and long-term incomes of the new generation facilities.