Greening Group, a renewable energy company, announced this Thursday that in the last fiscal year of 2023, it achieved an EBITDA – financial indicator of gross operating profit calculated before deducting financial expenses – of 10.2 million euros in the year 2023, which means multiplying by three the gross operating result achieved in fiscal year 2022. In this way, the consolidated income figure amounted to 100.6 million, two and a half times more than last year.
According to a press release, the company has exceeded its business plan that it had planned for 2023, both in growth, profitability and investment portfolio, included in its 2023-2025 business plan. The “good results” make leaders optimistic, who understand that there is “high viability in meeting the objectives also for 2024.”
The company, founded in 2011 from the University of Granada, has achieved a profit before taxes of 5.6 million euros as of December 31, 2023, which represents an increase of 79.2% compared to the 2022 result. According to its accounts, the first in a full year published after going public, these results are fundamentally explained by the growing relevance that the international business has acquired.
In fact, Greening Group emphasizes that 2023 has, in fact, been “the year of international growth”, carrying out its expansion in accordance with its business plan. They add, however, that in the rest of the areas of activity they have also registered very significant growth throughout the past year.
Specifically, the energy generation business “clearly” took off in 2023 and closed the year with an income contribution of 9.3 million euros, generated through the sale of energy from its own projects and M operations.
During fiscal year 2023, Greening Group has surpassed the consolidation of its fundamentals that have allowed it to meet its objectives for the fiscal year and that allow it to advance in a very solid manner and with high viability in the fulfillment of its 2023-2025 strategic plan.
According to the note, the company is demonstrating its strong growth potential “thanks to the robust portfolio of contracts already signed and pending execution, the expected maintenance of margins and the favorable evolution of the generation and solutions portfolio.” Greening Group, he adds, “has a portfolio of projects in development that is more than enough to be able to comply with the 2023-2025 business plan.”
For the CEO of Greening Group, Ignacio Salcedo, “the results highlight the good moment of the company at a global level. We have exceeded the objectives of the business plan and we face 2024 with optimism and a clear roadmap. The company has made an exponential leap in terms of professionalization and capacity to create value for our clients, and in particular the generation activity linked to PPA guarantees us a contribution of recurring EBITDA in the future.”
“Greening Group is working on updating its current strategic plan to be able to address challenges associated with new renewable technologies and strengthen its presence in international markets, especially in North America,” added the company’s CEO.
Likewise, Salcedo highlights “the differential value of the Greening Group thanks to its international diversification, with presence in 6 countries that make it possible to compensate for the different levels of maturity and activity depending on the situation, with 76% of the business outside Spain, in countries with high growth potential due to high demand in the generation of renewable energy.”
Its main focus of activity is in European and North American markets, which has taken Greening Group to Italy, Germany, Mexico and the United States. During the first half of 2023, it also began its activity in France.
On the other hand, the company incorporated a new general director, Antonio Nievas, this first quarter of 204. Even so, the president of the board of directors and CEO of the company, Ignacio Salcedo, will continue to be involved in daily management. He will be responsible for the group’s strategic decisions, as well as the generation business and corporate areas. Antonio Nievas will report directly to the CEO, in order to reinforce the day-to-day operational management of the company and diversify executive functions.
Antonio Nievas is a civil engineer with a long professional career of 25 years, in important civil infrastructure companies, DRAGADOS (ACS Group) and FERROVIAL, starting as Project Manager until reaching the position of Executive Vice President, managing operations and applying innovative initiatives and sustainable.