DGAP-News: Pacifico Renewables Yield AG combines strong growth and profitability in fiscal year 2021

DGAP-News: Pacifico Renewables Yield AG / Keywords: Annual Report / Annual Results

Pacifico Renewables Yield AG combines strong growth and profitability in fiscal 2021 – continued sales growth continues

06/24/2022 / 22:04
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Pacifico Renewables Yield AG combines strong growth and profitability in fiscal 2021 – continued sales growth continues

  • Revenues increased by almost 35% to EUR 21.9 million
  • Electricity production increased by 51% to 124 GWh
  • Conversion to IFRS was successfully completed as a strategic milestone
  • Positive net profit of EUR 0.6 million and earnings per share of EUR 0.17
  • Estimated sales from the beginning of the year are around EUR 21.0 million
  • The sales forecast of EUR 33.0 million to EUR 43.0 million was confirmed

Grünwald, June 24, 2022 – Independent producer of electricity from renewable energy sources, Pacifico Renewables Yield AG (ISIN: DE000A2YN371) (the “Company” or together with its subsidiaries, the “Group”) can look back today to another very successful fiscal year. Revenues increased by almost 35% to EUR 21.9 million (2020: EUR 14.9 million) and grew at an average rate of 40% between 2019-2021. The group’s total portfolio as at December 31, 2021 was 166 MW, representing a portfolio growth with an average growth rate of 67% in 2019-2021.

Co-Director General Dr. Martin Siddiqui summarizes the fiscal year 2021: “With a portfolio growth of almost 100 MW through five acquisitions, we have demonstrated our ability to grow rapidly and efficiently. Our portfolio is well diversified both regionally and technologically, which turns out to be crucial for our Green Loan Debut completed at the beginning of this year. Our focus on growth combined with our strict financial discipline has allowed us to achieve profitability at an early stage of our company’s development and keep our promise of transparency to our shareholders for further growth and work towards promotion to the first position Standard 2021 Annual Report was an important step in this context milestone because it is the first financial report of our company published in accordance with IFRS. “

Strong growth and profitability combined successfully in fiscal 2021

The strong growth is related to the positive consolidated result, attractive cash flow from business activities and stable margins:

  • Adjusted operating EBITDA of EUR 17.3 million (2020: EUR 11.9 million) at a margin of 79% (2020: 80%)
  • Adjusted operating EBIT of EUR 8.3 million (2020: EUR 4.9 million) with a margin of 38% (2020: 33%)
  • Cash flow from operating activities of € 11.6 million (2020: € 12.6 million)
  • Consolidated result for the full year 2021 shows a profit of 0.6 million euros (2020: -0.9 million euros)
  • Earnings per share of € 0.17 (2020: € 0.27)

Continuation of sales growth in 2022.

On March 31, 2022, the Group released a revenue forecast for the fiscal year 2022. The Management Board continues to expect revenues of between EUR 33.0 million and EUR 43.0 million in fiscal 2022, thus confirming its current revenue forecast. Estimated sales of the group by the end of June 2022 will amount to approximately EUR 21.0 million. Especially the months of January and February contributed to the fact that sales in the first half of the year are higher than expected at the beginning of the year. The Management Board assumes that the positive impact of electricity prices, which have reached their historic highs in Germany, and especially in Poland, will continue in the second half of the year. However, electricity prices are currently subject to significant fluctuations, leading to a wide variation in forecast sales revenues. Due to this volatility, it is not yet possible to make a more precise sales forecast.

Christoph Strasser, Co-CEO, concludes: “We are delighted that we have managed to achieve growth in a timely manner and that our investments in green and local energy production facilities exceed our profitability expectations. At the same time, we note that the energy transition due to the latest developments has become more important than ever and has clearly gained in popularity. Increased awareness of policymakers in municipalities will give new impetus to the energy transition and bring with it many new opportunities. benefits and we look forward to making further progress in the clean energy transition. ”

Information about Pacifico Renewables Yield AG

Pacifico Renewables Yield AG is an independent energy producer listed on the open market of the Düsseldorf Stock Exchange and its quality segment with additional requirements (primary market) (ISIN: DE000A2YN371), with the goal of building an ever-growing portfolio of renewable energy plants. With operating solar and wind parks spread across Europe, the company offers a clear and varied profile with a stable and predictable income.

Disclaimer

This press release may contain certain forward-looking statements, estimates, beliefs and forecasts about the future business, performance and results of Pacifico Renewables Yield AG (“forward-looking statements”). Forward-looking statements are identified by words such as “believe”, “judge”, “anticipate”, “expect”, “intend”, “will” or “should”, or the contradiction thereof, and similar variations or terminology. Forward-looking statements cover all matters that are not based on historical facts. Forward-looking statements are based on the current opinions, forecasts and assumptions of Pacifico Renewables Yield AG management and involve significant known and unknown risks and uncertainties that could cause actual results, results and events to differ materially from results, results and events Forward-looking statements made or implied may differ. Forward-looking statements contained in this document should not be taken as a guarantee of future results or results, and are not necessarily reliable indicators of whether or not such results will be achieved. The forward-looking statements in this release date only as of the date of this publication. Pacifico Renewables Yield AG will not update the information, forward-looking statements or conclusions in this release to reflect subsequent events and circumstances, nor will it reflect subsequent events or circumstances or inaccuracies that may become apparent after this release as a result of new information. future events or as a result of other circumstances, and the Company is under no obligation to do so. The company assumes no responsibility that any forward-looking statements or assumptions contained in this document will become reality.


24.06.2022 Publication of Corporate News / Financial News broadcast by DGAP – EQS Group AG website.
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