Audax Renovables. 2018 financial year unanimously approved by shareholders
This Monday, April 29, 2019, the shareholders meeting of Audax Renovables was held. It was an opportunity to approve the financial year for 2018 and take stock of what has been achieved in the last 12 months.
The president of Audax Renovables, José Elías, has outlined the main lines of action between now and 2022; these include: the confirmation of the company as the leading energy seller in the SME segment of the Spanish market, the coverage of 2/3 of the energy supplied to customers with PPA (Power Purchase Agreement) contracts, through a policy of moving activities and replicating this growth model also internationally. Other objectives for 2022 are: exceeding the threshold of 500 thousand customers, supplying over 15 TWh of energy, revenues exceeding 1.5 billion euros, an EBITDA of approximately 100 million and reducing the net debt/EBITDA ratio by 1.5.
The Audax Group faces this phase of growth with the intention of selling and generating renewable energy in all the markets of the countries in which it is present, continuing on the path of international expansion with the aim of creating value for all shareholders who have believed in and supported a business group with a solid financial position and broad development prospects.
During the meeting, the news was given of the achievement of the BBB- rating, with a tendency towards stability, granted by Axesor, the first Spanish rating agency. A rating that reflects the financial solidity of the group and that allows it to face the challenges that the future will bring with even greater confidence. Among the advantages deriving from the score obtained are both the possibility of better access to credit for the realization of new projects, and greater negotiating power when it comes to signing PPA agreements for the purchase and sale of energy at increasingly competitive prices.
The good results achieved by Audax Renovables have favored the share price on the stock exchange. In recent months, these have reached the highest value recorded since October 2008, resulting in the value of the stock traded by the market being much higher than the average value of recent financial years.
Audax Renewables is the result of the merger between Audax Renovables and Audax Energía. The result is an energy group operating in 8 countries (Spain, Portugal, Italy, France, Holland, Germany, Poland and Panama), with over 500 employees and a turnover of over 1,200 million euros per year.
Audax Energy Italy was born in 2014; today it supplies electricity and gas to over 55 thousand domestic and business customers.
