Solarpack Achieves Operating Revenues of €72.7 Million in First Half of 2021

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Solarpack shows solid results in the first half of 2021, with its power generation business unit (POWGEN) being the main contribution to EBITDA thanks to its 450 MW in operation.

Solarpack is a multinational specialized in the development, financing, construction, operation and management of utility scale solar photovoltaic power plants with presence in fast-growing markets in Europe, North America, Latin America, Asia and Africa.

The company achieves operating revenues of €72.7 million in H1 2021 (vs. €81.0 million in H1 2020), an EBITDA of €24.2 million (vs. €29.6 million in H1 2020) and a net profit of €0.1 million, against €4.8 million in H1 2020.

In the first half of the year, net profit fell to 100,000 euros, compared to 4.8 million in the first half of 2020. A reduction mainly caused by the lower construction activity for third parties registered this year. In total, operating income between January and June stood at 72.7 million euros (81 million last year).

In its power generation segment (POWGEN), where the company has 450 attributable operating MW (545 MW in total), Solarpack has achieved sales of 27.0 million in the first half of 2021 and an EBITDA of 22.7 million, slightly above the forecast for the business unit at the beginning of the year.

Solarpack continues with the execution of its portfolio of projects under construction, which totals 180 MW distributed in Malaysia, Chile and Spain and expects to participate in the coming months with about 3.6 GW of projects under development in tenders and processes of long-term energy sales in the USA, Spain, Colombia, Chile, South Africa, Malaysia and India.

Company carries on with commercial and development activity in all markets, with recent offers presented in South Africa, Israel and Malaysia. The company puts 22 MW in operation in Chile and begins the works of 10 MW in Spain.

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