Strong increase in first-quarter 2020 revenue, targets confirmed

Neoen, one of the world’s leading and fastest-growing independent producers of exclusively renewable energy, is reporting unaudited revenue of €95.8 million in the first quarter of 2020, up 61% compared to the first quarter of 2019. At constant exchange rates, revenue was up 65%.

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    • Neoen’s first-quarter 2020 revenue totaled €95.8 million, up 61% compared to the first quarter of 2019
    • Electricity generation reached 1,110 GWh, up 59% year-on-year
    • Capacity in operation stood at 2 GW following the commissioning of an additional 143 MWp during the first quarter
    • 4.2 GW were in operation, under construction or awarded at end-March 2020
    • Neoen is confirming its EBITDA target for 2020 of between €270 million and €300 million with an EBITDA margin of around 80%
    • Neoen is reiterating its operational and financial targets for 2021 and 2022

     Xavier Barbaro, Neoen’s Chairman and Chief Executive Officer, commented: “Keeping up the momentum built up in 2019, Neoen is reporting a substantial increase in its first quarter 2020 revenue. The Group commissioned the 143 MWp Capella solar power plant during the quarter, currently El Salvador’s largest solar farm and also most innovative asset thanks to its battery. Neoen also launched construction of a wind farm and several solar facilities in France. In a situation marked by the Covid-19 outbreak, Neoen’s teams remain fully committed to keeping its facilities running, launching the construction of new assets and continuing to develop its project portfolio. The Group is confirming its EBITDA target of between €270 million and €300 million in 2020 and over €400 million in 2022.”

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