THE PRESIDENT OF THE COMPANY INCREASES HIS STAKE IN THE SHARE CAPITAL TO 10% AFTER MAKING PURCHASES WORTH MORE THAN 550,000 EUROS SINCE THE IPO
- The company is thus advancing in meeting its turnover targets for 2022, which is expected to be €40 million.
- Today the company presented the progress of its half-year results to shareholders at the Extraordinary General Meeting that approved the operation with Inveready.
Barcelona, September 9th, 2022. Enerside Energy, a Spanish company vertically integrated into the solar photovoltaic industry, has increased its revenues by eight during the first half of the year to €15 million.
During the first half of the year, Enerside recorded a positive evolution of its revenues, with a strong increase in the month of May, especially driven by the construction activity for third parties (EPC). The company is demonstrating its high ability to capture market share with recognized prestige and global customers in a high-growth sector.
The CEO of the company, Joatham Grange, today explained this positive evolution of the company to its shareholders, during the Extraordinary General Meeting convened to approve the investment operation of €6 million by the company Inveready, agreed last July and that will accelerate Enerside’s business plan.
On the progress of the results of 2022, the CEO explained that “the good evolution of the business allows to confirm the objective of obtaining € 40 million of income at the end of this year”, and explained that “more than € 20 million is estimated to be obtained in the EPC activity, he clarified.
The president’s commitment to the company
The president of Enerside, Tomàs Casanovas, has increased his stake in the company after making several purchases of shares for a total of more than 550,000 euros since the company began trading on the Stock Exchange. He currently owns 10% of the capital, which reflects a clear commitment to the company’s performance and its growth prospects and value contribution. Enerside’s share capital is 75% distributed among founders and private investors and 25% is free float.
Milestones of the first semester
The milestones that have marked this first half of 2022 for Enerside are the generalized growth in its three business lines, focused on increasing market share in the countries where it is already present, especially in Brazil and on the recognition of its brand by global reference customers, in addition to the opening to new geographies.
In relation to the growth that the company is experiencing, it is worth mentioning especially the evolution of the construction activity (EPC) since, after the last agreed awards, Enerside has already covered more than 75% of the objectives of 2023, with 231 MW in the portfolio and € 76 million of contracted revenues.
It also highlights the entry into new geographies such as Italy, after acquiring 880 MW of mature projects and where it has a total of 1 GW in solar power plant projects, some with associated energy storage.
The third milestone highlighted so far this year is the company’s IPO, which debuted at BM Growth at the beginning of March, with a value of €204 million and after formalizing a capital increase of €34 million.
From the point of view of activity as an independent energy producer (IPP) Enerside is also developing a good exercise. The company has already started the construction of its own projects in Chile and Brazil, in line with its business plan that foresees having its first own parks in operation in 2023 (330 MW) and with 1GW of its own projects in operation in 2025.
Enerside is a vertically integrated company in the photovoltaic solar energy sector, which stands out for its strong industrial profile and geographical diversification in the markets with the greatest potential for solar energy (Spain, Italy, Brazil and Chile).
Enerside is currently immersed in promoting the development of 4.5 GW in differentiated, highly qualified projects with an advanced degree of maturity that give it an excellent position to capture demand growth and a large capacity to generate value, through the sale of projects in the RTB (Ready To Build) phase and with the direct exploitation of part of the pipeline as an independent energy producer (IPP).