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.
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.
