Econergy, which deals with the construction, holding and operation of renewable energy systems in Europe, published its financial statements for the second quarter of the year earlier this week, where it lowered its revenue forecast for the years 2025-2022 to NIS 603 million. In the reports for the first quarter of this year, the company expected revenues of NIS 673 million – this is an 11.6% reduction in the forecast.
On Sunday and Monday the company’s stock hardly reacted to the figure, but yesterday (Tuesday) it fell 7% and today it records another crash of 13%. The company explains that there may be delays in the construction of some of the projects and their operation.
About two months ago, the CEO of Aconergy said in an interview with Bizportal that if the company needs to raise additional funds, then this is what it will do: “We will raise as much money as we need during the year 2023.” How long will it take for Aconergy to reach a profit? Probably quite a bit longer. Compared to big companies like Doral or Enlight, Econergy brings in very little money. If Nofer Energy and Enlight Energy bring in 350 million shekels and Doral 125 million shekels, then Econergy brings in less than 4 million shekels a year. In the meantime, it recruits and recruits to grow and grow.
Since the beginning of the year, Aconergy’s share has fallen by 17.5% to a price of NIS 20, representing a value of NIS 910 million. The company lost in the first quarter of this year about NIS 5.64 million on revenues of NIS 1.05 million. In 2021 as a whole, the company lost NIS 11.28 million on revenues of NIS 976 thousand.
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