Within the third quarter of 2022, Danish Nordic Photo voltaic, which builds and operates photo voltaic parks throughout Europe, elevated its income by 55 p.c and EBITDA by 63 p.c in comparison with final 12 months.
The photo voltaic power firm has already achieved its purpose for the entire of 2022 with a pipeline of tasks of 1,750 MWp. Over the last quarter, Nordic Photo voltaic, amongst different issues, centered on commissioning a photo voltaic park in Lysabild with a particular deal with biodiversity and plans to construct a number of photo voltaic parks based mostly on the identical mannequin . Nordic Photo voltaic maintains monetary expectations for 2022.
Sturdy progress continued for Nordic Photo voltaic within the third quarter of the 12 months. In comparison with the identical interval final 12 months, the photo voltaic power firm skilled income progress of 55 p.c to EUR 27.1 million in comparison with EUR 17.6 million final 12 months. In the identical interval, EBITDA elevated by 63 p.c to EUR 22.2 million.
“We’re very happy with the outcomes of the third quarter, the place along with reaching the objectives of our portfolio of photo voltaic parks in operation and our challenge pipeline, a whole lot of effort has been made to optimize our tasks in improvement. For instance, we want to broaden our portfolio with new tasks in Italy, Lithuania, and Denmark,” mentioned Nikolaj Holtet Hoff, CEO and founding father of Nordic Photo voltaic.
In the course of the first 9 months of the 12 months, Nordic Photo voltaic negotiated the rights to construct new photo voltaic parks in Germany, Greece, Lithuania, Denmark, and Sweden. The brand new agreements enhance Nordic Photo voltaic’s pipeline to a full-year goal of 1,750 MWp. With the opening of a brand new photo voltaic park in Lysabild, Nordic Photo voltaic has now additionally achieved its 2022 purpose of getting a portfolio of photo voltaic parks working with a complete capability of 359 MWp.
New Danish Photo voltaic Parks with Concentrate on Biodiversity
In November, Nordic Photo voltaic commissioned its latest photo voltaic park in Lysabild in Southern Jutland. The photo voltaic park has been developed and constructed with particular consideration to biodiversity and respect for nature and wildlife. On the identical time, the photo voltaic park is the primary full EPC challenge accomplished by Nordic Photo voltaic. Nordic Photo voltaic has plans to construct a number of photo voltaic parks with the identical deal with biodiversity.
Bold Improvement Journey
Nordic Photo voltaic is on an formidable progress journey, and based on its technique, the purpose is a portfolio of photo voltaic parks in operation that can quantity to 2 GWp by the tip of 2025. Since its institution in 2010, Nordic Photo voltaic has expanded quickly and with a complete funding of DKK 5 billion, the corporate is now among the many 35 largest portfolios in Europe, the place it develops, builds, and operates photo voltaic parks.
Keep year-round revenue and return expectations
Like many others, Nordic Photo voltaic felt the excessive inflation and rising rates of interest, however nonetheless got here out of the quarter with spectacular outcomes:
“In Q3, we skilled a rise in inflation and rates of interest that affected our institution and working prices, however they had been offset by larger power costs. After all, we observe all of the components carefully, however it’s our evaluation that Nordic Photo voltaic’s enterprise mannequin can not face up to the speedy modifications available in the market. For that motive, we additionally keep our steering for 2022,” mentioned Jes Vengaard, CFO of Nordic Photo voltaic.
Nordic Photo voltaic thus maintains its anticipated income for the 12 months of DKK 75 million, which corresponds to a 60 p.c enhance over the earlier 12 months. EBITDA is anticipated to face at EUR 53 million. Based mostly on these monetary expectations, the return to the corporate’s shareholders is anticipated to stay between 9 and 13 p.c, and the corporate expects to distribute dividends of DKK 3.5 per share to its shareholders.
Learn the report right here: https://nordicsolar.eu/om-nordic-solar/recknunger/
