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Greenvolt's profit rises 45% to 6.5 million in the third quarter - Energy

Greenvolt’s profit rises 45% to 6.5 million in the third quarter – Energy

In a statement sent to CMVM (the Securities Market Authority), the company said this period was “marked by the consolidation of the operations of Tilbury Green Power, but also of V-Ridium and Profit Energy.”

Two acquisitions “allowed to position Greenvolt as a reference in energy production using residual biomass, but also constitute an indispensable step towards establishing the company as a ‘key company’ in the sector promoting and developing wind and renewable photovoltaic projects.”

In terms of EBITDA – EBITDA – the company issued €18.8 million, nearly double compared to the €8.55 million recorded in the same period the previous year.

Revenue was €41.4 million, up 83.4% compared to €22.6 million in the same period in the previous year. This segment was driven by Tilbury Green Power, according to the company.

It also highlights the “strong generalized increase in electricity prices, which has led to the resurgence of the Power Purchase Agreements (PPA) market and a very significant growth in the decentralized power generation market, both in the residential, commercial and industrial sectors.”

Given that the acquisition of TGP was completed on June 30, 2021, the quarter under review is the first quarter in which results for this plant in the GreenVolt Group are considered.

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