Audax Renovables closes the 2024 financial year by doubling its net profit to reach 63 million euros

February 28, 2025.–  Audax Renovables S.A. (ADX.MC), a vertically integrated energy group that generates 100% renewable energy and supplies electricity and gas to more than 436 thousand customers in 7 countries, has closed the best year in its history.

In the communication published today at the CNMV, Audax Renovables highlights that, in the financial field, the Group has been able to greatly exceed the results of the previous year, to the point of doubling them, going from 31 million euros of profit in 2023 to exceeding 63 million euros this year.

This spectacular improvement in results is mainly due to the Group's efforts to improve in all areas of management, which has been positively reflected in the increase in 20% EBITDA, from 96 million euros in the previous year to more than 115 million euros in 2024.

It is worth highlighting the reduction in the Group's gross financial debt, which, thanks to the generation of cash in this period and together with the positive evolution of its EBITDA, places the debt ratio at 1.9 times.

As regards operational marketing figures, there has been a significant increase: from supply points, exceeding 436 thousand (+20.41 TP3T); the current portfolio of 16.5 TWh (+24.71 TP3T); and the energy supplied (+12.31 TP3T), which represents a historical maximum of 15.5 TWh. This positive evolution is the result of the implementation of the Group's commercial strategy, focused on the Large Client and SME segment, applied under the rigorous risk management policy that grants a high degree of solidity and stability to the commercial activity.

In the generation sector, the Group has an installed capacity of 267 MW, which represents an increase of 1.51 TP3T compared to the previous year and which, as a whole, has enabled it to achieve a production of 305 GWh, which represents an increase of 9.31 TP3T compared to the previous year. This growth has been driven by the greater installed solar capacity, especially in Spain. The Group's objective, in the generation area, is to maximise the profitability of its solar and wind assets currently in operation.

José Elías, Executive Chairman of the Group, highlighted that “the good results we have obtained in 2024 are the result of the great effort of the almost 800 professionals who are part of the Group, and are also a demonstration of the strategies we are carrying out. Our objective is to position Audax as one of the main players in the European energy market, as well as in ESG matters”. He also added that “the company continues to work on sustainable and profitable growth, through a strategic planning of organic and inorganic growth, with a focus on profitability and debt reduction, in order to maintain its commitment to remunerate its shareholders”.

About Audax Renewables

Founded in 2000, Audax Renovables is a vertically integrated energy group that generates 100 % renewable energy and supplies electricity and gas, with a presence in 9 countries.

The group currently has a portfolio of wind and photovoltaic parks in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and in different stages of development, totalling 1 GW. In its marketing activity, the group headed by José Elías Navarro supplies electricity and gas to more than 436,000 customers in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary.

Audax began trading on the Spanish secondary market in 2003, and in 2007 it made the leap to the continuous market, where it became part of the IBEX SMALL CAP® index in March 2020.

At the end of 2024, its market capitalisation exceeds 730 million euros, and it has a team of nearly 800 professionals.

For more information visit www.audaxrenovables.com