• The company closed the year with total revenues of 537 million euros, which represents a 58% increase compared to 2020. Pro forma EBITDA (including dividends from investments in operating plants of €4.8 million) amounted to €50.4 million, representing a 67.4% increase compared to 2020.
• Gransolar Group obtained net benefits of 22.7 million euros, with an increase of 50% compared to 2020.
• By business lines, the greatest growth was in PV Hardware, which accounted for more than 60% of the group’s EBITDA.
• The company’s current project portfolio exceeds 2,000 million euros.
Gransolar Group, an international business group leader in the development, construction and supply of photovoltaic plant components, has presented its main financial and activity figures for the 2021 financial year. The company closed the year with a significant growth in all its figures, reaching 537 million euros in total revenue, which represents a 58% increase compared to 2020. Pro forma EBITDA (including dividends from investments in operating plants of 4.8 million euros) amounted to 50.4 million euros and represents a 67.4% increase compared to 2020.
Despite the fact that the crisis caused by covid-19 has continued to hit the world economy hard, Gransolar Group has maintained its financial solidity, obtaining a net profit of 22.7 million euros with an increase of 50% compared to the financial year 2020.
Gransolar Group carries out its activities throughout the value chain, adopting an active risk management strategy by hedging the commitments and guarantees established in the contracts, which has enabled it to manage the impact of the rise in the cost of raw materials, components and transport experienced last year.
By business lines, the greatest growth was in PV Hardware, which manufactures and supplies trackers around the world and has exceeded 5 GW, contributing more than 60% of the group’s EBITDA.
The services line, on their part, (EPC, project development, engineering, self-consumption and O&M) has increased its profitability, increasing its presence in Australia and the USA.
E22, the affiliated company dedicated to storage, continues with its ambitious business plan thanks to projects such as the one it is developing in Belgium, where it has begun the execution of a 100 MWh project, which marks a milestone for the company and the sector.
Domingo Vegas, President of Gransolar Group, explained: “The selective commercial strategy that we have developed, as well as the recurrence of the commercial relationship as a result of the good execution of the projects, has allowed us, in addition to achieving magnificent results, to maintain a solid portfolio of projects that exceeds 2,000 million euros, well above the portfolio of previous years, which gives us the security to continue growing in 2022”.