Edisun Power Europe AG Achieves Record Results in 2023 With Strategic Sales Transactions

Edisun Power Europe AG reported remarkable financial performance for the year 2023, witnessing a significant jump in sales to CHF 37.65 million. This increase is largely attributed to a strategic sales transaction that resulted in a one-off capital gain of CHF 18.7 million. The company's focus on large-scale solar plants and the divestment of a smaller project portfolio to Smartenergy Group were key to this achievement.

The firm's EBITDA soared by 118.4% to CHF 30.91 million, reflecting an impressive margin of 82.1%. This was buoyed by record solar electricity production, up by 33.8%. Edisun's strategic shift towards large-scale projects is further evidenced by its acquisition of three significant solar projects in Madrid, Spain, totaling 941 MWp. In line with its financial success, the company proposed an increased dividend of CHF 1.70 per share.

Despite some challenges such as lower electricity prices in Spain and adverse weather conditions, which negatively impacted profitability, improved performance in Portugal helped offset these effects. The success of the new large-scale solar plant "Betty" in Portugal contributed significantly to the company's overall performance. Edisun Power's strategic endeavours and focus on optimizing its project portfolio underlie its robust financial outcomes for 2023.

Looking ahead, Edisun Power plans to issue a new five-year bond with a 3.5% coupon in July 2024, emphasizing its commitment to the further development and financing of large-scale solar projects. The company's strategic focus and solid financial performance in 2023 position it well for continued growth and success in the renewable energy sector.