Solar sales lift Neoen's 2019 revenue to EUR 253m

Neoen's Cestas solar park. Photo by: Neoen (www.neoen.com).

February 19 (Renewables Now) - French renewables developer and power producer Neoen (EPA:NEOEN) on Tuesday posted a 22% year-on-year increase in its 2019 consolidated revenues thanks to a 48% jump in solar sales.

The company closed the past year with unaudited revenues of EUR 253.2 million (USD 273.5m), which it said grew in line with the improvement at all of its business segments and regions. The commissioning of new capacity in the solar, wind and storage markets were among the major growth drivers and helped it pass the 3-GW threshold of capacity in operation or under construction at end-2019.

At constant exchange rates, revenue was 23% higher than in the previous year. More details about Neoen’s revenues are available in the table below. The figures are unaudited and exclude the biomass business, which the company sold in order to focus on the solar, wind and storage segments.

Revenue in EUR million 2019 2018
Solar 119.1 80.4
Wind 111 107.6
Storage 20.5 17.9
Development and investment 2.5 1.1
Consolidated revenue 253.2 207

After commissioning almost 800 MW in 2019, at the end of the year Neoen had 3,040 MW of operational and under-construction capacity. Its total project portfolio stood at 10,651 MW at the end of 2019, including 1,193 MW under construction. The firm’s assets in operation of 1,847 MW in total produced 2,982 GWh of electricity in the past year, up 38% in annual terms.

Neoen confirmed its full-year EBITDA of EUR 212 million-219 million and said it now expects an EBITDA margin of around 85% rather than 80%. The company also reiterated its goal for over 5 GW in operation and under construction by end-2021, for which year the EBITDA is seen to stand at around EUR 400 million.

Neoen will publish its full-year 2019 financial report on March 25, 2020.

(EUR 1.0 = USD 1.080)

More stories to explore
Share this story
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription