Neoen reports sales of 524.4 ME for fiscal year 2023, up 4% at current exchange rates and 8% at constant exchange rates on the previous year.

At the same time, adjusted EBITDA was up 15% to €474.8m at current exchange rates, in line with the announced target.

Adjusted net income reached 80.4 ME, up 67%.

Neoen reports that its secured portfolio has grown by more than 1.6 GW, reaching 9.0 GW, of which 8.0 GW in operation or under construction, i.e. 80% of the 2025 target.

For 2024, the company is targeting an adjusted EBITDA of between 530 and 560 ME, with an adjusted EBITDA margin rate in excess of 85%.

The Group also reiterates its ambition to see its adjusted EBITDA exceed €700 million in 2025, and its total capacity in operation or under construction reach 10 GW by 2025.

Finally, the Group announces the appointment as CFO of Yves-Eric François, previously CFO of Neoen in Australia.

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