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Audax (José Elías) shoots up more than 5% on the stock market after abandoning losses

Date: April 21, 2024 Time: 01:44:43

Investors give Audax Renovables a vote of confidence after coming out of losses. The group controlled by Jose Elías Navarro rebounds more than 5% on the stock market after the presentation of the annual results for 2022, which reflect a profit of 7.8 million in 2022, compared to the losses of 3.3 million with which they closed the previous exercise. The revaluation of the group since the beginning of the year has been meteoric with an increase of almost 85%.

The company’s titles gain momentum after leaving the red numbers and it is positioned as the second most bullish value of the entire Spanish stock market, behind Fluidra (6%), up to 1.38 euros. The group increased revenues by 56% in 2022, reaching 2,633 million, with a profit before taxes (ebitda) of 54 million, 16% more.

According to the company, business optimization, its market diversification policy and the 9% increase in installed power, up to 245 MW, have contributed to these results. 129 million. It has a developing portfolio of 130 million euros in assets.

The gross financial debt was reduced in 2022 by 130 million, up to 642 million; and Audax has received 14% of its supply points during the last four years to the current 387,000, with the industrial client as the main focus, since it represents 93% of its total portfolio, while the domestic client has reduced its weight from 11% to 7%.

Iberpapel joins the increases in the continuum

In addition to Fluidra and Audax, Iberpapel’s rise of more than 3% is also noteworthy because the board of directors later agreed to pay an amount on account of the result of the 2022 financial year for a gross import of 0.25 euros per share in cash . The date set for the payment of this amount will be next March 10, for a net import per share of 0.2025 euros and will be made through Banco Sabadell.

Iberpapel obtained a net profit of 15.8 million in 2022, 70.5% more compared to 2021. The company recently agreed to extend the term of the option to exercise the sale from February 9 to May 9 of this year, in terms of exclusivity with the buyer, of this forest heritage before the summer period in this country.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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