Neoen reports a steep increase in its full-year results and reiterates its growth prospects

• Revenue rose 63% to 227.6 M€ and features a high level of recurring revenue streams;
• Current EBITDA rose by 72 M€ to 174.4 M€, the top end of the guidance range it had announced. The EBITDA margin stood at 77%, up from 73% in 2017;
• Total assets totaled close to 2.6 B€ (up 42%), and Neoen’s financial strength is plain to see
• The project portfolio expanded by 2 GW to 7.7 GW;
• Neoen reiterates its forecast of further strong and profitable growth and its objectives for 2021.

Neoen (ISIN: FR0011675362, Ticker: NEOEN), France’s leading independent producer of renewable energy, and one of the fastest-growing worldwide, is reporting its audited consolidated full-year results for the financial year ended December 31, 2018. These financial statements were approved by the Board of Directors on April 17, 2019.

Xavier Barbaro, Chairman and Chief Executive Officer of Neoen, commented: “We are very proud of Neoen’s financial performance. It reflects our ability to combine growth, profitability and strength thanks to our integrated “develop-to-own” model. We develop our own projects, which enables us to maintain the strong pace of growth in our asset base over the long term and its competitiveness in a hotly contested environment. Our agile structure, the breadth and diversity of our project portfolio, our renowned expertise, especially in energy storage, the diversity of our customer mix and balanced geographical positions are the key factors underpinning our success. We are confident in our ability to deliver an EBITDA of between 220 M€ and 235 M€ in 2019 and we are also reiterating our objectives for 2021 of more than 5 GW in capacity in operation or under construction, and close to 400 M€ in EBITDA.”