Solarpack grows revenues and profits in the first quarter of 2020
By ad_solarpack
The Getxo-based multinational, specialized in solar photovoltaic energy, shows solid results in the first quarter of 2020, reflecting intense construction activity and the contribution of new megawatts brought into service by the Power Generation (POWGEN) unit in Spain, Chile and India during 2019 and the start of 2020.
• Achieves a first-quarter 2020 operating income of €35.0m, up 179% on the first quarter of 2019, with EBITDA of €18.9m (up 318% on Q1 2019) and net income of €6.5m, compared to the €0.2m net loss of the first quarter last year
• Adapts positively to COVID-19, prioritizing employees’ safety, keeping all solar plants operating and delivering energy, and maintaining operational activity
• Partners with Ardian in the Tacna and Panamericana projects in Peru and meets important acceptance milestones for recently built plants, reinforcing the company’s liquidity position
• Starts building 12 MW in Chile, bringing the total portfolio of projects under construction to 239 MW
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