L R AS Published on Saturday 22 September 2018 - n° 248 - Categories:miscellaneous financial
Neoen is preparing the listing of its shares on the stock exchange + key figures
The French developer Neoen is preparing the listing of its shares on the stock exchange. He intends to collect
450 million, enough capital to increase from the 2 GW assets currently installed (worth €2 billion) to 5 GW by the end of 2021. 80% will be installed in OECD countries. The majority shareholder Impala will subscribe to the capital increase and will remain the majority shareholder.
An application has been filed with the Autorité des Marchés Financiers for a listing on the Paris stock exchange.
Neoen, which has been profitable since 2011, generated sales of €139 million in 2017. It generated revenue of €102 million in the first six months of 2018, an increase of 87% over last year.
The company that built Europe's largest solar power plant, the 300 MW Cestas photovoltaic plant, is working with Tesla on a 129 MWh lithium-ion battery in South Australia.
PV Magazine of 20 September
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In 2017, Neoen generated sales of €139 million, up more than 71% compared with 2016, a current EBITDA of €102 million (margin of 73.4% of sales), a current operating profit of €60.7 million (margin of 43.7%) and a net profit of €7.4 million (net margin of 5.3%). The interim financial statements for the six months ended 30 June 2018 demonstrate Neoen's financial excellence: Revenue for the first half of 2018 amounted to €102 million, up 87% compared with the same period last year, mainly due to the contribution of the new power stations commissioned, with a recurring EBITDA of nearly €80 million (margin of 8.0%), a recurring operating profit of €49.2 million (49%) and a net profit of €8.3 million (net margin of 8.3%). At 30 June 2018, Neoen's balance sheet total exceeded €2 billion. Finally, Neoen's business is also characterised by its very high level of recurrence and predictability, thanks to very long-term electricity sales contracts.
Off-balance sheet, the company secured more than €5 billion in cumulative contracted revenues (sum of revenues from sales contracts). All of these power sales contracts are denominated in euros, Australian dollars or US dollars.
For 2018 as a whole, Neoen is targeting revenues of €220 to €230 million (+60 to +65%) and recurring EBITDA of €170 to €175 million (margin of 77.3%). For 2021, Neoen targets a recurring EBITDA of nearly €400 million. In view of Neoen's medium-term objectives, the Company expects to be able to pay a dividend for the first time in respect of the 2021 financial year, which would be payable in 2022.
Tecsol of 19 September