Spain’s Audax stories 89% decrease revenue in 2021

March 1 (Renewables Now) – Spanish renewable energy and fuel provider Audax Renovables SA (BME:ADX) earned a web revenue of EUR 2.8 million (USD 3.1m) in 2021, down by 89% year-on-year, the group reported.

The underside line was impacted by some quarterly losses final 12 months, larger prices of uncooked supplies and common value volatility, softened by a greater efficiency within the fourth quarter.

Earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) for the 12 months had been decrease by 20%, arriving at EUR 52.9 million. Working revenue surged by 74% to EUR 1.69 billion, a historic excessive for the group, primarily on rising costs in markets the place it operates, Audax mentioned.

The group provided 15.4 TWh of electrical energy and fuel in 2021, in comparison with 10.5 TWh delivered a 12 months in the past. The availability of electrical energy rose by 56% on the 12 months.

Audax closed the 12 months with 226 MW of put in photo voltaic and wind energy capability, nearly 150% greater than what it had on the finish of 2020. The capability determine consists of 66 MW from a wind farm in Panama, wherein Audax has 30% stake.

The corporate’s wind and photo voltaic farms in Spain, Poland and France generated 200 GWh in 2021, down by 2% on the 12 months. Manufacturing ranges improved solely in Spain on account of new photo voltaic PV farms coming on-line.

The Toabre wind farm in Panama is present process testing at current, and can begin industrial operation within the coming months, Audax added.

(EUR 1.0 = USD 1.11)

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