L R AS Published on Monday 28 September 2020 - n° 333 - Categories:company results
Neoen in the first half of the year; the company maintains its 2020 and 2023 objectives.
In the first half of the year, Neoen generated revenue of €157 million (up 33% over 2019). EBITDA increased by 58%,
with a margin of 94%. Operating profit amounted to €95m (+67%). Group net profit was €22m (+32%). The company has 2.1 GW in operation (up 13% over 31 December 2019) and 1.5 GW under construction (up 26% in six months).
The solar business generated sales of €74m (47% of consolidated sales). It is up 34% compared with the first half of 2019, thanks to the contribution of power plants commissioned in 2019 and early 2020. The increase in EBITDA (up 75% to €88 million) was due to the commissioning of power plants and revenues from the Mexican plant.
The company invested €205 million in the first half. Cash and cash equivalents amounted to €589 million at 30 June. Net debt amounted to €2.0 billion (compared with €1.8 billion at the end of December).
For 2020, the company estimates that it will achieve EBITDA of €270 to €285 million (the previous range was €270 to €300 million). This is because the company is experiencing delays in the commissioning of certain projects. Neoen also confirms its target of more than 5 GW of capacity in operation or under construction by the end of 2021, capacity that will be fully operational by the end of 2022. Neoen also reiterates its EBITDA target of more than 400 million euros in 2022.
https://www.neoen.com/var/fichiers/cp-ry-sultats-s1-2020-neoen.pdf
Neoen of September 23rd
