Energix Company
Energix
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Reports revenues of NIS 92 million in the first quarter of 2022 – an increase of about 60% compared to the corresponding quarter last year. The net profit attributed to the company’s shareholders amounted to NIS 43 million. An increase of about 150% compared to the corresponding quarter last year
Asa (Asi) Levinger, CEO of Energix, said in publishing the results: “We conclude the first quarter with strong results that reflect a record in revenue and all other activity indices, along with continued momentum and development in all the territories in which we operate.
“In the US – the massive growth continues, with an emphasis on the massive construction that is expected in the next two years. We estimate that this activity will bring the volume of connected projects in the US (including the completion of construction), to the end of 2023, to GWp1. Of over 2 GWp, at attractive prices – guarantees the company a regular supply of panels until 2025, and produces a significant competitive advantage in a period of equipment price increases and supply disruptions.
“In Poland, we completed the construction work of the two wind farms, Bunny 3 and Spopol with a total capacity of MW126, ahead of schedule, and we are in the midst of construction work on the Bunny 4 wind farm, with a total capacity of MW56. “Together with the increase in electricity production from projects established and established in Poland in the years 2021-2022 and to be established during 2022 in the United States are expected to lead to a significant increase in the volume of revenue from electricity sales in Poland and the United States during 2022 onwards.
“In Israel, we have begun work to establish the ARN project, the company’s wind farm in the Golan Heights with a capacity of MW104 and we are in the final stages of completing the conditions required for financial closure.
“We continue to promote the company’s activities in accordance with the strategic plan we have adopted, with the aim of bringing the backlog of projects in commercial operation of a company in 2025 to about GW4.3 and generating revenues of over NIS 1.5 billion per year.”
As of the date of approval of the report, the total scope of the company’s projects in the US is 5.4GWp in the photovoltaic field and over 6.4 GWh projects in the field of storage. The company estimates that by the end of 2023, the company will have about 1GWp connected to the network or in the final stages of construction.
The Company’s operations in Poland – completion of construction and start of electricity flow from the Banie 3 (82MW) wind farm and the Sepopol (44MW) wind farm with a total capacity of 126MW – As of the date of approval of the report, the construction of all wind turbines in these projects has been completed. Accordingly, all 57 wind turbines began to supply electricity to the Polish electricity grid as part of a wind farm run-off period, during which all the electricity produced in them was sold at market prices.
Final stages in the construction of a Banie 4 wind farm with a capacity of MW56. As of the date of approval of the report, the company has completed the construction of 8 wind turbines out of the 16 turbines included in the project with a capacity of 28MW.
Forecast for 2022: The company confirms its forecasts for 2022, according to which revenues will amount to NIS 400-430 million, the gross profit from the projects will amount to between NIS 315-345 million and the FFO from the projects will amount to between NIS 255-285 million.
Company objectives for 2025: In accordance with the objectives of the updated strategic plan, the total capacity of the company’s systems in commercial operation (including projects at the end of construction) for 2025 is expected to be approximately GW4.3. Meeting the target is expected to generate revenues totaling over NIS 1.5 billion per year at an EBITDA rate of about 80%. For this purpose, the company is expected to require investments of an estimated amount of about NIS 12 billion, of which the company estimates about NIS 10 billion. H will be provided as part of project financing of various types.
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Great company (LT)
Moti
19/05/2022
20:24
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