Spanish renewables developer-operator Opdenergy Holding SA (BME:OPDE) recorded a net profit of EUR 5.8 million (USD 6.1m) at the end of the first semester of 2023, down by 66.5% year-on-year, the company said in a bourse filing on Friday.
The net result reflects a recovery from the EUR-1.89-million loss tainting the first quarter of the year.
Revenues for the six-month period skyrocketed by 125.3% to EUR 78.3 million. Earnings before interest, taxes, depreciation and amortisation (EBITDA) went up by 112.6% to EUR 55.4 million, with EBIT surging by 140.9% to EUR 46.2 million.
At the end of June, Opdenergy had 1,064 MW of renewables in operation in Europe and the Americas. All of these assets are solar except for one wind farm in Spain.
The financial results come as Opdenergy digests the EUR-866-million acquisition offer from private equity firm Antin Infrastructure Partners. On September 18, Opdenergy sent a note to the Spanish securities market regulator stating it had hired banks BBVA and Societe Generale as financial advisors in relation to Antin’s offer.
(EUR 1.0 = USD 1.06)