Audax Renovables. 2018 financial year approved unanimously by shareholders
This Monday, April 29, 2019, the Audax Renovables shareholders meeting took place. It was the opportunity to approve the financial year 2018 and take stock of what has been achieved in the last 12 months.
The president of Audax Renovables, José Elías, set out the main lines of intervention between now and 2022; they concern: the confirmation of the company as the first energy seller in the SME segment of the Spanish market, the coverage of 2/3 of the energy supplied to customers with PPA contracts (Power Purchase Agreement), through a policy of moving activities and replicating this growth model also internationally. Other objectives for 2022 are: exceeding the threshold of 500 thousand customers, the supply of over 15 TWh of energy, revenues exceeding 1.5 billion euros, an EBITDA of approximately 100 million and the reduction of the net debt/EBITDA ratio of 1.5.
The Audax Group faces this growth phase with the intention of selling and generating renewable energy in all the markets of the countries in which it is present, continuing on the path of international expansion with the aim of creating value for all shareholders who have believed and supported an entrepreneurial group with a solid financial position and broad development prospects.
During the meeting it was announced that the rating BBB-, with a tendency towards stability, was obtained by Axesor, the first Spanish rating agency. An evaluation that reflects the financial solidity of the group and which allows it to face the challenges that the future holds with even greater certainty. Among the advantages deriving from the score obtained are both the possibility of better access to credit for the realization of new projects, and greater negotiating strength when it comes to signing PPA agreements for the purchase and sale of energy at increasingly competitive prices.
The good results obtained by Audax Renovables have favored the listing of the shares on the stock exchange. In recent months, these have reached the highest value recorded since October 2008, resulting in the value of the security traded on the market being much higher than the average value of recent years.
Audax Renovables is the result of the merger between Audax Renovables and Audax Energía. The result was an energy group operating in 8 countries (Spain, Portugal, Italy, France, Holland, Germany, Poland and Panama), with over 500 employees and a turnover of more than 1,200 million euros per year.
Audax Energia Italia was born in 2014; today it supplies gas electricity to over 55 thousand domestic and business customers.
