Audax Renovables celebrates Investor Day

Last Tuesday, May 28, Audax Renovables celebrated its first Investor Day or Día del Inversor in Madrid. The founder, president and main shareholder José Elías, vice-president and CFO Eduard Romeu and general manager Anabel López were present.

After the recent shareholders' meeting, the one in Madrid was another public opportunity to present the results achieved in 2018 and reiterate the Group's commitment to achieving the 2022 objectives. These include:

• exceed 550 thousand customers
• provide over 15 TWh of energy
• exceed 1.5 billion euros in turnover and 100 million euros in EBITDA

Growth will be based on both future developments in the renewable energy sector and potential acquisition opportunities in the supply sector.

Furthermore, the company's management confirmed its willingness to:

• to strengthen Audax Renovables' position as the leading independent energy seller in the SME segment of the Spanish market
• to double profitability by covering 2/3 of the energy supplied to customers through long-term PPA (Power Purchase Agreement) contracts, in relation to owned or third-party photovoltaic systems
• to replicate the success achieved in Spain also on an international level, starting from the countries in which the Group already operates profitably

Finally, it is essential that the BBB- rating, with a tendency towards stability, be maintained. This rating reflects the financial solidity of the group and allows it to face the challenges that the future will bring with even greater confidence. Among the advantages deriving from the rating 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.