Spanish energy supplier Holaluz returns to profit in the first half of 2022

Oct. 20 (Renewables Now) — Spanish renewable electricity and gas provider Holaluz Clidom SA (BME:HLZ) posted a net profit of 5.51 million euros ($5.4 million) for the period of January to June 2022, compared to a net profit of -3.74-EUR million loss in the prior year period, as revenues soared due to higher energy prices and new contracts for solar energy.

Consolidated sales for the six-month period amounted to €562.6 million, up 201% year-on-year. Cost of goods sold also jumped 205% over the year to €514.7 million. The result was gross profit of 50.7 million euros, which was up 180% year-on-year, according to financial results.

Reported EBITDA amounted to €10.2 million, compared to a negative €2.3 million in the first half of 2021.

The energy management segment, which is what Holaluz calls its now-defunct electricity and gas retail and distributed solar generation management business, was originally 552, 5 million euros of the total amount of income. This segment increased its sales by 200% over the year thanks to the increase in volumes sold and the rise in energy prices.

The number of solar prosumers doing business with Holaluz has steadily increased over the year, from 6,410 at the end of 2021 to 7,737 at the end of June. By the end of September, the company had contracts with 9,176 prosumers, she said.

Revenues from the supply of solar installations jumped 320% to 10.1 million euros.

(1.0 EUR = 0.980 USD)

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