PARIS (Agefi-Dow Jones)–Renewable energy producer Neoen announced on Tuesday that its turnover amounted to 333.6 million euros in 2021, up 12% compared to 2020, with a 22% growth in the fourth quarter.
According to a consensus made by FactSet, analysts expected a turnover of 352.4 million euros.
Neoen has also confirmed that it expects gross operating surplus (Ebitda) within a range of 295 million to 310 million euros in 2021.
The group has however raised its Ebitda margin target, now expected around 90%, against around 80% previously, to take into account the “recognition of net income from ‘farm-down’ operations in other current operating income” .
In 2021, Neoen put into operation 898 megawatts (MW) and launched the construction of 1.416 MW. Neoen’s assets in operation or under construction thus reached 5.4 gigawatts (GW) at the end of December 2021, compared to a target of more than 5 GW announced at its IPO in 2018.
Neoen also reiterated its objective of generating EBITDA growth of more than 20% in 2022 compared to 2021, then a double-digit annual growth rate between 2022 and 2025.
“These objectives take into account the best estimate date of the timetable for the execution of its projects”, the group stressed. It also confirmed its objective of more than 5 GW in operation during 2023 and its ambition to reach at least 10 GW of capacity in operation or under construction by the end of 2025.
Neoen will publish its results for 2021 on March 14.
-Eric Chalmet, Agefi-Dow Jones; 01 41 27 47 95; [email protected] ed: FXS
NEOEN FINANCIAL RELEASES:
https://www.neoen.com/en/financial-information#publications-en
Agefi-Dow Jones The financial newswire
(END) Dow Jones Newswires
February 15, 2022 12:27 ET (17:27 GMT)