aventron records significant increase in production and profit for first half year 2020

In the first half of 2020, aventron has produced 550 GWh of renewable energy and, in doing so, has generated a net income of CHF 10.3 million. The installed capacity has grown to 564 megawatts (482 megawatts as of half year 2019).

aventron had a strong start in 2020 generating revenues from the supply of energy amounting to CHF 55.3 million (prev. year CHF 54.2 million) with an EBIT of CHF 20,5 million (prev. year CHF 19,2 million). With its power plants in six countries, aventron produced 550 GWh (prev. year 490 GWh) of renewable energy, significantly more than expected due to good weather conditions. As at the reporting date aventron operates in Europe a portfolio of 564 MW (prev. year 482 MW). The main contribution to the increase of the installed capacity has been the commissioning of the 50 MW solar power plant Bargas in Spain.

In relation to revenues, the EBITDA margin is slightly higher at 72,7 (71,3) percent and the EBIT margin at 38,0 (35,1) percent. The half-yearly net income came in at CHF 10,3 million (prev. year 8,5 million). The half yearly net income per share increased to 0.210 swiss francs per share (prev. year 0.195). For 2020 as a whole, management expects somewhat subdued annual results due to lower energy market prices. The exceptionally mild winter 2019/20 has put pressure on electricity prices in Norway, while the COVID crisis will lead to reduced economic output in Europe in general. As over 80 percent of the Group’s net revenues are hedged, the discount will be limited. aventron’s business model proves to be robust.