Fiscal Year 2018 is unanimously approved

The General Meeting of Shareholders of the listed company Audax Renovables held today has approved the best results in its history, achieving a record turnover of almost one billion euros in 2018 and with the aim of increasing it by 50% in 2022

The shareholders of Audax Renovables have unanimously approved today, Monday, April 29, 2019, the company's accounts that refer to the past fiscal year 2018. At the Ordinary Meeting, the company's good results were reviewed and all the points on the agenda.

During his speech, Mr. José Elías, president of Audax Renovables, outlined the main lines of action planned for 2022, which involve remaining the 1st independent marketer in the SME segment of the Spanish market, covering 2/3 of the energy supplied to its clients. with PPA contracts, based on an asset rotation policy, and replicate the growth model in the international business. Audax Renovables works with the intention of reaching more than 500,000 customers in 2022, supplying more than 15 TWh of energy, reaching around 1.5 billion euros in revenue, around 100 million euros in EBITDA and reduce the ratio of its net financial debt/EBITDA to 1.5x.

The Group faces this stage of growth with the objective of marketing and generating renewable energy in all the countries where it is present and continuing its international expansion, with the aim of creating value so that shareholders see their participation in a large business group rewarded. with a strong financial and market position and significant prospects for future growth.

Coinciding with the holding of the Meeting, the obtaining of the BBB- rating with a stable trend has been announced. The granting of the investment grade rating by the Axesor rating agency reflects the financial strength of the group and allows it to solidly face future challenges. This rating will facilitate better access to financing to undertake new projects and makes the Group an ideal counterparty to sign new PPA agreements (Power Purchase Agreement) that will allow it to acquire energy at more competitive prices.

The good results obtained by Audax Renovables have caused the share price to reach its maximum value since October 2008 in recent months and have achieved a much higher value negotiated by the market than the average of recent years. At market close, today Audax has reached €2.35 per share, which represents an increase of 20% compared to its last close.