(Boursier.com) — In the first half of 2022, Charwood Energy recorded a turnover of 3.2 million euros, generated entirely on behalf of third parties. Driven by strong momentum, particularly in its priority market France, half-year activity thus posted growth of 40% compared to the first half of 2021.
Over the first 6 months of the year, expenses are up compared to the 1st half of 2021, reflecting the structuring of the teams in progress to support the Group’s future growth, as well as the ramp-up of the projects which will be delivered in the second semester and beyond.
In this context of intensified strategic investments, Charwood Energy managed to maintain its operating profitability in positive territory with EBITDA in the 1st half of 2022 amounting to 171 thousand euros, compared to 530 thousand euros in the 1st half of 2021.
After accounting for a financial charge of 140 thousand euros and the tax charge, Charwood Energy recorded a net profit, Group share, at break-even.
A financial structure strengthened by the IPO
As of June 30, 2022, the financial structure before integration of the proceeds of the IPO carried out in July presents:
– Equity stable at 898 thousand euros (compared to 896 thousand euros at December 31, 2021);
– Gross financial debt of 2,263 thousand euros, compared to 2,020 thousand euros at December 31, 2021, to which should be added 7,075 thousand euros recorded in liabilities, related to the issue of convertible bonds subscribed by Eiffel Gaz Vert in May 2022;
– Gross cash of 6,941 thousand euros, including the proceeds from the issue of convertible bonds, compared to 1,478 thousand euros at December 31 of the previous year.
On the occasion of its IPO on Euronext Growth, Charwood Energy carried out a capital increase for a total amount of 12.4 million euros, including 8.5 million euros subscribed by Eiffel Gaz Vert by debt compensation and 3.9 million euros in cash.
Reaffirmed short and medium term objectives
The activity of Charwood Energy, at the heart of the key issues of energy independence and the fight against global warming, benefits from favorable structural and economic factors, powerful accelerators of its rapid development in France but also internationally.
This buoyant market, combined with the commercial successes recently announced, a secure order book for third parties for a total amount of 4.3 million euros and a commercial pipeline3 for third parties of 86 million euros, multiplied by 2 since the end of March, allows Charwood Energy to confidently reaffirm its short and medium term objectives.
In addition, the Group is pursuing its own-account strategy and confirming its target of 5 power plants under development by the end of 2022.
Thus, the Group confirms its objective of reaching a turnover of 7 million euros in 2022, and 100 million euros by 2027.