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01.07.2024 16:16:01 - dpa-AFX: EQS-News: Greencells GmbH: Consolidated revenue grows to EUR 209.7 million in the fiscal year 2023; consolidated EBIT improves to EUR 8.3 million (english)
Greencells GmbH: Consolidated revenue grows to EUR 209.7 million in the
fiscal year 2023; consolidated EBIT improves to EUR 8.3 million
EQS-News: Greencells GmbH / Key word(s): Annual Results
Greencells GmbH: Consolidated revenue grows to EUR 209.7 million in the
fiscal year 2023; consolidated EBIT improves to EUR 8.3 million
01.07.2024 / 16:15 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Greencells GmbH: Consolidated revenue grows to EUR 209.7 million in the
fiscal year 2023; consolidated EBIT improves to EUR 8.3 million
Saarbrücken, 1 July 2024 - Greencells GmbH, a globally active EPC and O&M
service provider for utility-scale solar power plants, significantly
increased its consolidated revenue by 32.0% to EUR 209.7 million in the
fiscal year 2023 in a market environment which remained dynamic. The revenue
target of EUR 200 million was thus clearly exceeded. The EPC business, with
a focus on two projects in Hungary, once again generated the majority of
revenue, accounting for a total of EUR 118.5 million.
Earnings development in the fiscal year 2023 was influenced by special
factors relating to individual projects and repeated one-off effects from
receivables and contract assets for old projects. Overall, Greencells
improved its consolidated EBIT from EUR 7.9 million to EUR 8.3 million and
remained below the forecast range of EUR 10 to 12 million. The EBIT margin
amounted to 4.0% after 5.0% in the previous year. Consolidated net profit
for the year was EUR 3.4 million (2022: EUR 4.5 million). This results in a
return on sales of 1.6% (2022: 2.8%), which was below the target of 2% to
3%.
Greencells won numerous new contracts in the fiscal year 2023. The current
forecast for 2024 is based on a total of 30 EPC projects (previous year: 22)
with a combined capacity of 487 MWp (previous year: 484 MWp), which are in
various stages of construction. Written project contracts (EPC contracts or
early works agreements) were already in place for twelve projects (previous
year: 18) at the start of the fiscal year. Greencells will fully realize its
strategic transformation into a pure EPC provider with the sale of the
sister company's development division and the associated positive effects
only in the course of 2024, meaning that the current fiscal year represents
another year of transition. In this context, a consolidated revenue of
around EUR 170 million is anticipated for 2024. Consolidated EBIT is
expected to be between EUR 8 million and EUR 9.5 million, benefiting from
the elimination of negative one-off charges at project and receivables
level. The return on sales is expected to be between 2.0% and 3.0%. In
addition, the redemption of the Green Bond (ISIN: DE000A289YQ5) on 29 July
2024 and further loan repayments by the sister company in 2024 are expected
to have a significantly positive effect on the risk structure, balance sheet
ratios and liquidity.
The consolidated financial statements 2023 of Greencells GmbH with the
auditor's unqualified opinion are available at www.greencells.com/ir.
About Greencells GmbH:
Greencells GmbH is a global provider of EPC and O&M services specialized in
utility-scale solar power plants. Together with its sister company
Greencells Group Holdings Ltd. (together "Greencells Group"), which is
active worldwide as a solar project developer, the company has the know-how
in all project phases to optimally plan, finance, implement and operate
solar projects. Greencells GmbH, founded in 2009 and headquartered in
Saarbrücken, has around 90 employees as well as several hundred skilled
workers at the active construction sites. As one of the largest European
providers of solar power plants, Greencells Group has already been
successfully involved in the construction or planning of more than 150
photovoltaic plants with a total output of over 3 GWp in more than 25
countries.
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01.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
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End of News EQS News Service
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1936217 01.07.2024 CET/CEST
fiscal year 2023; consolidated EBIT improves to EUR 8.3 million
EQS-News: Greencells GmbH / Key word(s): Annual Results
Greencells GmbH: Consolidated revenue grows to EUR 209.7 million in the
fiscal year 2023; consolidated EBIT improves to EUR 8.3 million
01.07.2024 / 16:15 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Greencells GmbH: Consolidated revenue grows to EUR 209.7 million in the
fiscal year 2023; consolidated EBIT improves to EUR 8.3 million
Saarbrücken, 1 July 2024 - Greencells GmbH, a globally active EPC and O&M
service provider for utility-scale solar power plants, significantly
increased its consolidated revenue by 32.0% to EUR 209.7 million in the
fiscal year 2023 in a market environment which remained dynamic. The revenue
target of EUR 200 million was thus clearly exceeded. The EPC business, with
a focus on two projects in Hungary, once again generated the majority of
revenue, accounting for a total of EUR 118.5 million.
Earnings development in the fiscal year 2023 was influenced by special
factors relating to individual projects and repeated one-off effects from
receivables and contract assets for old projects. Overall, Greencells
improved its consolidated EBIT from EUR 7.9 million to EUR 8.3 million and
remained below the forecast range of EUR 10 to 12 million. The EBIT margin
amounted to 4.0% after 5.0% in the previous year. Consolidated net profit
for the year was EUR 3.4 million (2022: EUR 4.5 million). This results in a
return on sales of 1.6% (2022: 2.8%), which was below the target of 2% to
3%.
Greencells won numerous new contracts in the fiscal year 2023. The current
forecast for 2024 is based on a total of 30 EPC projects (previous year: 22)
with a combined capacity of 487 MWp (previous year: 484 MWp), which are in
various stages of construction. Written project contracts (EPC contracts or
early works agreements) were already in place for twelve projects (previous
year: 18) at the start of the fiscal year. Greencells will fully realize its
strategic transformation into a pure EPC provider with the sale of the
sister company's development division and the associated positive effects
only in the course of 2024, meaning that the current fiscal year represents
another year of transition. In this context, a consolidated revenue of
around EUR 170 million is anticipated for 2024. Consolidated EBIT is
expected to be between EUR 8 million and EUR 9.5 million, benefiting from
the elimination of negative one-off charges at project and receivables
level. The return on sales is expected to be between 2.0% and 3.0%. In
addition, the redemption of the Green Bond (ISIN: DE000A289YQ5) on 29 July
2024 and further loan repayments by the sister company in 2024 are expected
to have a significantly positive effect on the risk structure, balance sheet
ratios and liquidity.
The consolidated financial statements 2023 of Greencells GmbH with the
auditor's unqualified opinion are available at www.greencells.com/ir.
About Greencells GmbH:
Greencells GmbH is a global provider of EPC and O&M services specialized in
utility-scale solar power plants. Together with its sister company
Greencells Group Holdings Ltd. (together "Greencells Group"), which is
active worldwide as a solar project developer, the company has the know-how
in all project phases to optimally plan, finance, implement and operate
solar projects. Greencells GmbH, founded in 2009 and headquartered in
Saarbrücken, has around 90 employees as well as several hundred skilled
workers at the active construction sites. As one of the largest European
providers of solar power plants, Greencells Group has already been
successfully involved in the construction or planning of more than 150
photovoltaic plants with a total output of over 3 GWp in more than 25
countries.
Greencells contact: Alexandra Financial press contact: Frank Roger-Machart | Head of Corporate Ostermair, Linh Chung Communications, ESG and IR frank.ostermair@linkmarketservice ir@greencells.com | Mobile: +49 s.eu Phone: +49 89 88 96906 25 172 397 0957 Greencells GmbH Better Orange IR & HV AG Bahnhofstr. 28 66111 Saarbrücken Haidelweg 48 81241 Munich Germany Germany www.greencells.com www.linkmarketservices.eu
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01.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
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Language: English
Company: Greencells GmbH
Bahnhofstraße 28
66111 Saarbrücken
Germany
Phone: 0681/9926690
E-mail: info@greencells.com
Internet: www.greencells.com
ISIN: DE000A289YQ5
WKN: A289YQ
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt, Hamburg, Hanover, Munich, Stuttgart,
Tradegate Exchange
EQS News ID: 1936217
End of News EQS News Service
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1936217 01.07.2024 CET/CEST
