Polish wind, solar builder Onde boosts 9-mo net profit by 246%

Wind farm in Poland. Author: Karolina Kabat. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

November 10 (Renewables Now) - Onde (WSE:OND), the renewables construction business of Polish group Erbud SA (WSE:ERB), reported a net result of PLN 70 million (USD 17.7m/EUR 15.2m) for the first nine months of 2021, a 246% increase year-on-year.

The wind and solar contractor, which listed on the Warsaw Stock Exchange in July, saw its nine-month sales jump by 189.6% to PLN 927.7 million.

Erbud said the performance of the renewables business is a source of pride.

The parent company’s own net profit was up by 72% to PLN 62.1 million on revenues of PLN 2.2 billion, increasing by 35% on the year. This is the best top line result in Erbud’s history, it noted. Orders at the end of September stood at PLN 2.93 billion, rising to PLN 3.53 billion when Onde’s projects are added to the calculation.

(PLN 1 = USD 0.252/EUR 0.218)

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