Connect with us

Economy

Greenvolt profit up 17% in first half to €1.2m – Empresas

Published

on

Greenvolt profit up 17% in first half to €1.2m - Empresas

Greenvolt recorded a net profit of 1.2 million euros in the first six months of the year, up 17% on the same period last year.

The information provided by the company in the report also shows that revenue grew by 170% to 113.3 million euros, which contributed to a more than tripling increase in EBITDA (earnings before interest, taxes, depreciation and amortization), which increased by 248% to 36 .8 million euros.

CEO João Manso Neto states in the paper that the results are “based on the Residual Biomass business unit and on strengthening investments in areas with the greatest growth potential, such as the development of photovoltaic and wind-solar projects, as well as distributed generation. .”.

Manso Neto emphasizes that in the third quarter, “Greenvolt achieved two very important results: on the one hand, it completed a capital increase of 100 million euros with great success, which will accelerate its growth plan, and on the other hand, it completed the first sale of solar and wind assets in Poland of one of the largest European utilities Iberdrola, which, also in terms of financial results, opens up good prospects for the second half of 2022.”

The energy sector has a total of 229 MW in operation and construction, with a portfolio of solar photovoltaic and wind power development projects reaching 6.7 GW, and by the end of 2023, 2.9 GW is at an advanced stage, representing a growth of 45% compared to the end of 2021.

Distributed generation projects, “an obvious solution to lower electricity bills”, installed 17.2 MWp with orders for 77.7 MWp in Portugal and Spain.

See also  Paulson: I don't recommend investing in cryptocurrencies for anyone - Markets

In the first half of the year, Greenvolt issued two bonds totaling 85 million euros.

Greenwalt recalls that “the second quarter continues to be marked by the war in Ukraine and significant implications for energy markets, namely gas and electricity prices,” stressing that the European Commission has responded by introducing the REPowerEU program to try to quickly reduce Europe’s dependence on Russia fossil fuel.

The European plan, according to the company, “confirms the correctness of Greenvolt’s strategic options focused on the development of photovoltaic and wind-solar projects and decentralized consumption.”

Greenvolt operates in the segment of power generation using biomass exclusively from waste. In Portugal, it owns five plants for the production of residual forest biomass with an installed capacity of about 100 MW. He also owns a majority stake in TGP, a UK plant that only uses household wood waste.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Portugal Listed Company Not Reporting: “Auditors with Restricted Access to Objects” – Mercados

Published

on

Portugal Listed Company Not Reporting: "Auditors with Restricted Access to Objects" - Mercados

Three months before the end of fiscal year 2022, Reditus continues to not approve or release last year’s financials.

“Reditus – Sociedade Gestora de Participações Sociais, SA, hereby informs that the previously published restrictions remain, and for these reasons, until September 30, 2022, it could not approve and publish individual and aggregate results relating to 2021,” the statement reads. company submitted to the Securities Market Commission (CMVM) this Saturday, October 1.

“Because the auditors had limited access to the premises and verification procedures, they alerted Reditus management that closing the financial statements is particularly time-consuming and therefore the auditors must complete the audit,” he said. approves the technological led by Francisco Santa Ramos.

“And in fact, despite the efforts of Reditus, as well as its auditors, the surrounding context of the pandemic has thus caused significant disruption in the process of completing financial statements and disclosing them,” explains the company, whose main shareholder Miguel Pais do Amaral (24.74 %), followed by the Moreira Rato family (10.2%), according to information on its website.

“For these reasons, Reditus SGPS, SA. reports that it cannot meet the deadline for the publication of its individual and consolidated accounting documents, estimating – depending on the elements currently available – that this publication will be carried out in the month of October. 2022,” concludes the company, which ended 2020 with a loss of 1.06 million euros, comparable to a positive result of 49 thousand euros in the previous year.

See also  Blue Origin: Officials Say They Will Not Fly New Rocket
Continue Reading

Economy

Is your loan reviewed in October? Get ready. Installment increase can be up to 45%

Published

on

Is your loan reviewed in October?  Get ready.  Installment increase can be up to 45%

Euribor rates rose sharply in September and will severely penalize those whose mortgages are renegotiated next month. View simulations

October should be a month of pleasant surprises for most Portuguese. Most of them will receive 125 euros in state support to cope with the effects of inflation. Those with children under the age of 24 will receive 50 euros for each child. And pensioners will receive a supplement equivalent to 50% of their pension.

But October has other surprises to consider financially. These are not at all positive. For many, gas and electricity prices will rise. And the Portuguese with mortgages, whose contracts will be renegotiated next month, are in for the worst of the unpleasant surprises: their house down payment will increase significantly.

This is because the overview of the contracts of those with a home loan is based on the average of the respective Euribor for the previous month, which it uses as an index. And in September, both the three-month-old Euribor, and the six-month-old, and the 12-month-old Euribor behaved the same way: they grew a lot. This is, in fact, the first time that the effect of positive euribor rates will be felt. This leads to an increase in the payment in October, which may exceed 200 euros.

But the bad news doesn’t end there, as these values ​​are expected to continue rising in the coming months. This is because the Euribor rates are closely linked to the changes in interest rates made by the European Central Bank, and this Wednesday the body controlled by Christine Lagarde. gave an indication of a new increase in October, which may reach even 0.75 points.

See also  Lisbon falls short of European success due to pressure from EDP Group - Stock Exchange

Increases from 95 to 200 euros

Contracts indexed to the six-month Euribor, which make up the largest share of home loans in Portugal, will for the first time feel the impact of the rate in positive territory, where it has remained since June 6. And this is the second review this year.

This means that for a loan of 150 thousand euros for 30 years with a spread of 1% and an average Euribor rate for September, the monthly payment will be 600.51 euros, which is 146.44 euros more than has been paid since the last loan review. . Corresponds to an increase of 32%.

The six-month average Euribor rose from 0.466% in July to 0.837% in August, and in September it stands at 1.596%. The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 6 months

pays

454.07

go pay

600.51

Increase

146.44

Those who have contracts indexed to 12-month Euribor and who will experience an increase in interest rates for the first time in 2022 will experience a larger increase. Since the contract is renegotiated from year to year, its holder will have to pay plus 201.72 euros in installments at home when you have to deliver 651.16 euros to the bank. In the last 12 months I have paid 449.44 euros. Corresponds to a 45% increase.

After soaring to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been above 0% since April 21. Its average also rose from 0.992% in July to 1.249% in August. And in September, the average figure is already at the level of 2.33%.

See also  Portuguese Daniela Braga of Biden's Task Force on Artificial Intelligence - Technology

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 12 months

pays

449.44

go pay

651.16

Increase

201.72

On the other hand, in contracts indexed to the three-month Euribor, the effect will be smaller, but closer to one hundred euros. The amount will rise to 561.96 euros, which is 95 euros more than in July. The increase corresponds to an increase of 21%.

This year, this is the third upward revision of this type of contract, they were paid another six euros in April and another 17 euros in July.

The three-month Euribor was negative between April 21, 2015 and July 13, 2015 (seven years and two months). The three-month average Euribor rose from 0.037% in July to 0.395% in August and currently stands at 1.011%.

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 3 months

pays

466.10

go pay

561.96

Increase

95.86

Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to rising inflation in the eurozone, a trend that has accelerated with the start of Russia’s invasion of Ukraine.

Christine Lagarde thinks the ECB needs to act “whatever you can do” return “inflation to 2% in the medium term,” the ECB president stressed at an event in Frankfurt this Wednesday.

According to Lagarde, if the bank does not go for a new increase in interest rates, the consequences for the economy will be more serious than the increase in the cost of credit. “Our goal is not to slow down growth, our main goal is to ensure price stability. This is what the ECB needs to achieve,” he added.

See also  Mario Centeno rules out 75 bp ECB interest rate hike - Markets

Continue Reading

Economy

mango. If you want to buy this set, you must be on the waiting list.

Published

on

mango.  If you want to buy this set, you must be on the waiting list.

HAda is more elegant than the “set of twins”. With just two parts, you can create an image without spending a lot of money and get an elegant result. And we’re not the only ones who think so, at least given the virtual queue created for the Mango suit, one of the most coveted sets of the season.

Read also: I had no time! One of the most coveted dresses has arrived at Mango Outlet

Sweater and pencil skirt in chunky jersey with lozenges are perfect for any occasion. It reveals both a more practical side when worn with sneakers, and a more elegant side with high boots or ankle boots.

Read also: Follow fashion trends with these six pieces of clothing.

The two parts are part of the Committed collection. This means that they have been produced using fibers and/or sustainable manufacturing processes that help reduce environmental impact.

Both are available in XSS and XXL sizes. The sweater costs €35.99 and the skirt €29.99. Invoices made gives a total of 65.98 euros.

Check out the gallery above!

Read also: Start Saving Now For These 35 Cozy Things You’ll Want To Buy

Always be the first to know.
6th year in a row Consumers Choice and Five Star Award for Online Press.
Download our free app.

Apple Store Download

See also  Blue Origin: Officials Say They Will Not Fly New Rocket
Continue Reading

Trending