• Full-year 2019 revenue came to €253.2 million, a 22% increase excluding the biomass business (1), with growth powered by all Neoen’s business segments and regions
• Neoen reached its full-year EBITDA (2) target, generating €216.1 million(3), up 30% compared to 2018
• Net income from continuing operations rose 48%
• Neoen has a robust cash position, which was enhanced by the recent arrangement of a €200 million syndicated loan
• In 2019, Neoen added 369 MW in newly installed capacity, launched the construction of 745 MW and won close to 1 GW in new projects
• The size of the overall portfolio expanded to 10.7 GW, up 3 GW versus year-end 2018
• Neoen is anticipating 2020 EBITDA of between €270 million and €300 million at constant exchange rates
• Neoen is reiterating its target of having 5 GW in operation or under construction by year-end 2021
• The current Covid-19 outbreak will not have a significant impact on assets already in operation, but will temporarily slow down the pace of new projects construction and commissioning and thus the ramp-up in EBITDA (previously announced at a level of approximately €400 million in 2021), without that having any impact on Neoen’s intrinsic growth potential
• Neoen’s EBITDA will exceed the €400 million (4) mark in 2022

Neoen (ISIN: FR0011675362, Ticker: NEOEN), France’s leading independent producer of renewable energy, and one of the fastest-growing worldwide, is presenting its consolidated audited full-year results for the financial year ended December 31, 2019. Its financial statements were approved by the Board of Directors on March 25, 2020.

Xavier Barbaro, Neoen’s Chairman and Chief Executive Officer, commented: “We delivered a solid operational and financial performance in 2019, with revenue growth of 22% and a 30% increase in our EBITDA, in line with what we had announced. At the same time, we continued to bring new capacity into service, we launched the construction of new power plants and we consolidated our portfolio by winning close to 1 GW in new projects. Our large and diversified pipeline, which we replenish constantly, makes us very confident about the future. In 2020, we anticipate another strong increase in our results, illustrating the robustness of our model. We are also reiterating the target set at the time of our IPO in 2018 of having more than 5 GW in capacity in operation or under construction by year-end 2021, which would represent growth of over 60% compared to year-end 2019. Thanks to the dedication of our teams and the robustness of our strategy, Neoen continues to offer high growth potential and a strong visibility in a structurally buoyant sector.”

1 – Excluding the biomass business sold in September 2019

2 – EBITDA corresponds to current operating income adjusted for current operating depreciation, amortization and provisions. It therefore excludes results for discontinued operations.

3 – €217.2 million at constant exchange rates 4At constant exchange rates compared to 2019