Solaria soars 9% in the Ibex after increasing its profit by 15% and invoicing almost 100 M

Solaria has reported its accounts and has positively surprised the market. The photovoltaic solar energy company soared 9% on the stock market and is the most bullish company on the Ibex 35 after posting a net profit of 50.1 million euros in the first half of the year, representing an increase of 15% over the same period of the previous year, while its revenues reached 99.6 million euros, 32% more than in the first half of 2022.

Gross operating profit (ebitda) at the end of the first half was 89 million euros, up 31%, while operating profit (ebit) was 73.25 million, up 29%. The company highlighted that the increase in the figures was due to the fulfillment of the business plan, "which means a higher energy production due to the new plants connected", as well as to the optimization of expenses, which "implies a progressive and substantial improvement in the results", which is added to the growth experienced during the last few years.

As part of its strategic plan, Solaria plans to invest 2,600 million Euros in Europe over the next three years. Currently, the company has 3,083 megawatts (MW) in operation and under construction. The new agreement with Endesa for a capacity of 126 MW, which will start in January 2024 and will have a duration of 10 years, represents a 40% price improvement compared to the last PPA signed by Solaria.

Solaria has also continued its geographical diversification and has accelerated its international expansion in Europe. Thus, it already has a project portfolio of 2.5 GW in Italy with the objective of reaching 5 GW by 2030. In Portugal it has more than 500 MW secured, a figure that reaches 50% of the target that the company has set itself to achieve in the Portuguese country by 2030, while it has already started activities in Germany, where it has identified new opportunities for 5.6 GW.

1.7 billion framework agreement for the financing of a 5.6 GW photovoltaic project portfolio located in Spain, mainly Italy and Portugal. Thanks to this agreement, Solaria secures its financing needs for the next three years.

Solaria has reported a positive surprise to the market. The photovoltaic solar energy company soared 9% on the stock market and is the most bullish company on the Ibex 35 after recording a net profit of 50.1 million euros in the first half of the year, representing an increase of 15% over the same period of the previous year, while its revenues reached 99.6 million euros, 32% more than in the first half of 2022.