Paris, 12 November 2019
Neoen reports strong revenue growth over the first nine months of 2019
  • Revenue in the first nine months of 2019 came to €184.2 million, representing a sharp increase of 26% excluding the biomass business
  • The secured portfolio expanded by almost 300 MW in the third quarter alone to reach 3.5 GW at September 30, 2019
  • The total project portfolio rose to 9.8 GW, representing an increase of 2.1 GW compared to year-end 2018
  • The Group is narrowing its guidance and expects to deliver EBITDA of between €212 million and €219 million in 2019, inside the range of between €212 million to €227 million expected up to now, with an EBITDA margin of around 80%
  • Neoen is reiterating its operational and financial objectives for 2021

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading and fastest-growing independent producers of exclusively renewable energy, is reporting unaudited revenue of €184.2 million in the first nine months of 2019, or an increase of 26% excluding the biomass business compared to the first nine months of 2018.

Xavier Barbaro, Chairman and Chief Executive Officer of Neoen, commented: “Quarter after quarter, Neoen has demonstrated its ability to optimize the performance of its assets in operation and to deliver strong revenue growth. In the third quarter, the commissioning of new power plants in Australia and France lived up to expectations. We have also strengthened our growth outlook as a result of the significant additions to our portfolio. In the third quarter alone, we won new projects in Finland, Portugal and France representing 240 MW in total capacity, and the total project portfolio increased by close to 0.8 GW, lifting it to 9.8 GW at end September. It includes 1.1 GW in projects currently under construction in the Americas, Australia and Europe.”