Spanish energy provider Holaluz swings to profit in H1 2022

Spanish renewable power and gas supplier Holaluz Clidom SA (BME:HLZ) earned a net profit of EUR 5.51 million (USD 5.4m) for the January through June period of 2022, compared to a EUR-3.74-million loss in the year-ago period, as revenues ballooned on rising energy prices and new contracts for solar.

Consolidated revenues for the six month period totalled EUR 562.6 million, up by 201% year-on-year. Cost of goods sold surged as well, by 205% on the year to EUR 514.7 million. The result was a gross profit of EUR 50.7 million, which grew by 180% year-on-year, the financial results show.

Reported EBITDA amounted to EUR 10.2 million, up from a negative EUR 2.3 million in the first semester of 2021.

The Energy Management segment, which is what Holaluz calls its power and the now defunct gas retail business and solar distributed generation management, was behind EUR 552.5 million of the total revenue amount. This segment increased sales by 200% on the year thanks to more volumes sold and higher energy prices.

The number of solar prosumers doing business with Holaluz has been rising steadily over the year, from 6,410 at the end of 2021 to 7,737 at the end of June. By the end of September, the company had contracts with 9,176 prosumers, it said.

Revenues from the solar installation offering surged by 320% to EUR 10.1 million.

(EUR 1.0 = USD 0.980)

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