Polish contractor Onde SA (WSE:OND) on Thursday reported a ten.2% decline in 2022 group income to virtually PLN 1.1 billion (USD 255m/EUR 235m), the overwhelming majority of which was generated by the home renewables section.
The division engaged within the building of renewable power crops in Poland skilled a 7.4% year-on-year lower in income to PLN 863 million, whereas the newly-formed section that builds renewables overseas contributed PLN 11.8 million. Alternatively, the street building section generated PLN 212.8 million, down by 23.5%.
The general prime line was affected by a risky and unpredictable atmosphere through which renewable power traders kept away from advancing new initiatives, Onde stated.
The corporate identified that the rising prices of supplies, labour and financing additionally had a damaging impact on earnings within the building sector. Onde’s consolidated earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) within the home renewables section fell to PLN 21.8 million from PLN 60.1 million.
In 2022, ONDE accomplished 20 onshore wind initiatives with a complete capability of 916.5 MW. On the similar time, it signed contracts for works on wind farms with a era potential of 422 MW.
Within the photovoltaic (PV) section, the group handed over 26 photo voltaic farms totalling 26 MW. The corporate additionally concluded contracts for the development of an extra 80 MW.
In 2022, Onde began in search of alternatives overseas to extend revenues and diversify the enterprise. In September, it started basis works on a 28-MW wind farm in Lithuania. In February 2023, it signed two extra contracts for the development of an 80-MW wind farm in the identical nation.
Wanting forward, Onde is targeted on creating its personal PV and wind initiatives beneath the build-an-sell mannequin. As of end-2022, the group’s personal initiatives amounted to 788 MW, together with 69 MW of wind capability.
(PLN 10 = USD 2.32/EUR 2.14)
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