The energy group Audax Renovables managed to close the best quarter in its history in March 2024, achieving a net result of 17 million euros, compared to the 2.4 million recorded in the same period of the previous year. As reported this Wednesday, the group achieved a gross margin of 61 million euros between January and March of this year, 19% more than in the same period of the previous year, and an EBITDA of 31 million, 37% more.
At the end of the first quarter of 2024, the company placed its net financial debt at 249 million compared to 367 million in the first quarter of the previous year and compared to 262 million euros at the end of 2023.
In this period, the group increased its portfolio of supply points to 393,000, an increase of 8% compared to the end of the previous year. The energy portfolio stood at 15.2 TWh, 15% more than the same period of the previous year thanks to the good performance of the Dutch subsidiary, the overall increase of 26% in the gas portfolio and an 11% increase in wallet. Of electricity.
The three main areas of the group, the Iberian Peninsula – the Netherlands and Hungary – improved their results and have been the drivers of the improvement in the gross margin, the EBITDA and the net result. Currently, the group has renewable generation projects in Spain, France, Poland, Italy, Portugal and Panama.
Wind portfolio management
Audax continues to operate its wind portfolio and manage the development of its photovoltaic portfolio located in Spain, Italy and Portugal, strategic markets of the group in which it also has marketing activity. The portfolio has projects in a very advanced stage of processing, of which 456 MWp are very close to starting construction, 62 MWp are in the construction phase and another 267 MW are in operation.
In December 2023, Audax signed a financing contract led by the European Investment Bank (EIB), for an import of 66 million euros, which will allow it to promote the implementation of a solar portfolio with a total power of 141MWp. At the end of the first quarter of 2024, 20 million have been drawn down, which allows the group to recover the treasury destined in 2022 and 2023 for the construction of the photovoltaic plants.
