Clean Energy and New Markets in the 2020 Strategies of the Audax Group

Q. Director Romeu, let's start with a programmatic definition. What are the guidelines or strategic lines of the Group from now until 2020? 
Growth and consolidation and new presences on foreign markets, investments in energy generation from renewable sources. The Audax Group looks to 2020 following these three guidelines. 
I would add that the recent decision to merge Audax Renovables – a listed company – with Audax Energía is in the direction of creating a large energy project. It will combine the characteristics of a sales company very well positioned in the Iberian market (i.e. Audax Energía) with those of a company focused on renewable energy production (Audax Renovables) with 185MW of installed capacity and record financial performance: +604% in share value since January 2018. 
D. The results of 2017 were more than satisfactory and not only for Audax Renovables... 
Yes, without a doubt. The Audax Group closed 2017 with a turnover that exceeded 1 billion euros for the first time, with an EBITDA of over 47 million, 350 thousand customers in Europe and a presence in 8 countries in the world both as a player in the sale of electricity and gas (Spain, Portugal, Italy, Germany, Poland, Holland) and as a producer of energy from renewable sources (France, Poland and Panama). 
D. The expansion in terms of acquisitions, market share expansion and territories in which to be present therefore continues... 
Looking at the first months of 2018, Audax continued on its strategic path of expansion, integrating the Andalusian group UniEléctrica, its main competitor in the Spanish market, and thus becoming the seventh operator by market share and the fourth if we consider only the SME segment. 
A similar position is recorded in the Portuguese market, while in the Dutch one, the subsidiary of Audax has reached the fourth place. In Germany and Poland a process of consolidation is underway. 
Q. And what happens in Italy? 
In Italy, Audax – with its 55 thousand customers, is a medium-sized company, ready to face the important challenges that will come next year, with the complete liberalization of the energy market. The objectives – in macro terms – are the consolidation of the customer base and at the same time the continuation of growth, the strengthening of customer care and the recognizability due to the reliability and transparency of the service. In particular, the aim is to act on customer services, on an expansion of the tariff offer, on the increase of the share of energy coming from renewable sources. 
D. So the commitment continues... 
Of course. I would like to add some information regarding energy generation and, in particular, solar energy. In 2019, Audax Italia will start work on the construction of a 6MW photovoltaic park: an important first step towards marketing clean energy produced by its own plants and not purchased from others. 
Q. Returning to the Group and looking ahead to 2020, is it already possible to take stock of what has been achieved so far? 
The 2015-2020 Strategic Plan is coming to fruition as expected. In fact, some results have already materialized two years ahead of schedule. I am referring to exceeding one billion euros in turnover and the diversification of activities between Spain and the rest of Europe in similar percentages. However, what is still to be achieved are: first, significant penetration into Latin American markets (in addition to the wind farm under construction in Panama) and, second, a share of at least 60% of the energy marketed from clean and renewable sources. 
The Group's priority, currently, is to maintain its ability to have the largest possible volume of energy at a lower price than the market price. At least two elements contribute and combine to achieve this result: having its own production and reaching the signing of agreements (the so-called PPA, Power Purchase Agreement) for the purchase of energy from renewable sources directly from producers. 
Q. In closing, what do you think are the Group's strengths? 
Our strengths are a consolidated balance sheet, a commercial dynamism, a prudent attitude when it comes to taking risks, the diversification of markets, skills and ability to operate, a vision of the future. These traits allow us to face without fear the challenges that the global market presents daily, placing the Audax Group as a unique entity in terms of value among those that occupy our market share both locally and globally.