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Paris 20 septiembre 2020
Neoen reports a strong increase in its first-half 2020 results
  • First-half 2020 revenue totalled €157.2 million, up 33% compared to the first six months of 2019
  • EBITDA(1) came to €148.2 million, up 58%, with an EBITDA margin2 of 94%
  • Net income Group share reached €22 million, up 32%
  • Neoen has a robust cash position, with €590 million in cash at June 30, 2020 and an undrawn €200 million syndicated loan
  • Assets in operation or under construction stood at 3.6 GW at end-June 2020, compared to 3.0 GW at end-December 2019
  • The Group is narrowing its 2020 EBITDA guidance range to between €270 million and €285 million3 at constant exchange rates4, with an EBITDA margin of over 85%
  • Neoen is reiterating its targets for 2022

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading and fastest-growing independent producers of exclusively renewable energy, is presenting its consolidated half-year results, with limited review of the auditors, for the six-month period ended June 30, 2020. Its financial statements were approved by the Board of Directors on September 23, 2020.

Xavier Barbaro, Neoen’s Chairman and Chief Executive Officer, commented: “Our first-half results showed a strong increase compared to the same period last year. Revenue and EBITDA moved up 33% and 58% respectively despite delayed commissioning of several projects. This performance reflects our Group’s growth profile that is driven by the continuous expansion of our pipeline. In the first six months, assets in operation or under construction grew by 600 MW to 3.6 GW. In addition, we have secured new wind, solar and storage plants in France, Australia and Finland during the period. Since the end of June, we have also been awarded three solar projects in Ireland with capacity totalling 55 MWp and a 100 MW wind energy project in Australia through government tenders. These latest successes illustrate our ability to design competitive projects and further enhance our growth prospects. Neoen is pushing ahead its development drawing on a healthy financial structure and robust cash position, with close to €600 million at end of June 2020.”

(1) EBITDA corresponds to current operating income adjusted for current operating depreciation, amortization and provisions

(2) The EBITDA margin is calculated as the ratio of EBITDA to revenue

(3) From between €270 million and €300 million initially

(4) Forecasts at constant exchange rates compared to 2019

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