Audax Renovables celebrates Investor Day

Last Tuesday 28 May, Audax Renovables celebrated its first Investor Day or Día del Inversor in Madrid. Present were the founder, president and main shareholder José Elías, the vice-president and CFO Eduard Romeu and the general manager Anabel López.

After the recent shareholders' meeting, the Madrid meeting was a further public opportunity to present the results obtained in 2018 and reiterate the Group's commitment to achieving its 2022 objectives. Among these are:

• exceed 550 thousand customers
• provide over 15 TWh of energy
• exceed 1.5 billion euros in turnover and 100 million euros in EBITDA

Growth will be based on both future developments in the renewable energy sector and potential acquisition opportunities in the supply space.

Furthermore, the company's management confirmed the will:

• to strengthen Audax Renovables' position as the leading independent energy seller in the SME segment of the Spanish market
• to double profitability by covering 2/3 of the energy supplied to customers through long-term PPA (Power Purchase Agreement) contracts, in relation to owned or third-party photovoltaic systems
• to replicate the success achieved in Spain also internationally, starting from the countries in which the Group already operates profitably

Finally, it is essential that the BBB- rating is maintained, with a tendency towards stability. 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 rating obtained are both the possibility of better access to credit for the construction 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.