AUDAX RENOVABLES CLOSES THE FIRST QUARTER AT +6%

Audax Renovables increased its profit in first quarter of 2021, reaching the figure of 1.5 million euros. It's about the 6% more than the same quarter of 2020, despite the situation still marked by the effects of the COVID-19 pandemic.

The advantages of vertical integration, added to the strategic turning point undertaken by the company in 2020 and the incorporation of its subsidiary in Hungary, meant that the turnover in the first quarter of this year was 340 million euros, 45% more than the same period of the previous year, with the EBITDA to 12.8 million euros.

Regarding the announcement made earlier this year of the inclusion of a 1,942 MWp portfolio of generation projects of energy – currently in various stages of implementation – the Group is convinced that it represents a change in size in its future income structure. And this will also be the case in terms of commitment to sustainability and the environment, bringing the Group's renewable generation portfolio to 2.5 GW. It should also be underlined that, despite the difficult situation, Audax Renovables was able to start construction works of 60 MWp in the Spanish provinces of Guadalajara, Toledo and Huelva.

As regards supply and marketing activities, the number of customers grew by 48% compared to the same quarter of the previous year, reaching i 540 thousand active supply points; this allows the Audax Group to remain the first independent electricity company in the Spanish SME market. The increase in the number of customers allowed the energy supplied by the 63% to increase compared to the same period of 2020, reaching 4.4 TWh. The Group managed to grow its 45% revenues compared to the same period of the previous year, mainly due to an increase in the average prices of the market quarter as well as a greater volume of energy supplied. Results - as mentioned - obtained in a particularly complex period due to the consequences resulting from the spread of the pandemic. Similarly, the Group did not suffer any impact on its investment and financing strategies.

Finally, Audax Renovables boasts a solid financial position which will allow us to continue the path of development and construction of a portfolio of photovoltaic projects.

The results achieved therefore represent a improvement in all areas and place the energy company in an optimal position to implement its Strategic Plan.