"The results of the first quarter underline the scale-up we can expect from our business going forward and these effects will become even more visible as the year progresses. We continue to build more power plants, expand our development backlog and grow our revenues and operating income. MPCES is in a stronger position now than at any time since the IPO in early 2021," says
The Company develops, builds, owns and operates renewable energy projects, including solar PV and wind farms as well as hybrid and energy efficiency solutions, in
Highlights of the quarter
- Announcing the start of operations for two plants in
El Salvador (Santa Rosa andVilla Sol ) andPuerto Rico (Neol CHP LLC ), in addition to completing the construction of a 12.3 MW solar plant inColombia (Parque Solar Los Girasoles) and connecting it to the power grid. -
Signing a long-term power purchase agreement in
Guatemala with one of the country's largest private companies -
Expansion further into
Puerto Rico by investing in a new combined-heat-and-power project. -
The company generated
USD 1.7 million in revenues during the first quarter of this year (USD 0.5 million in Q1 2022). -
Project-level earnings before interest, taxes, depreciation and amortization (EBITDA) were
USD 0.7 million (Q1 2022:USD 0.3 million ), and project-level earnings before interest and taxes (EBIT) wereUSD 0.4 million (Q1 2022:USD 0.3 million ). -
Without including contributions from energy trading activities in
Colombia , the results for revenue, project-level EBITDA and project-level EBIT wereUSD 1.4 million ,USD 0.9 million andUSD 0.5 million , respectively, in line with the Company's expectation and significantly exceeding the Q1 2022 results.
The Company expects proportionate revenues of about
On consolidated level, MPCES reported negative EBITDA and EBIT of
The Company will host a webcast for the investment community today at
From
https://www.mpc-energysolutions.com/investors/reports-presentations
Q1 webcast information:
Date:
Time:
Duration: 30 minutes incl. Q&A
The live webcast can be accessed through the following link:
https://edge.media-server.com/mmc/p/kd4gjja8
- ENDS -
About
Media contacts
Investor Relations & Public Relations
Email: ir@mpc-energysolutions.com
Salto Advisers AS
Phone: +47 950 46 330
Email: msw@saltoadvisers.no
Judith Ugwumadu
Phone: +44 7774 985705
Email: jugwumadu@montiethco.com
Phone: +1 (646) 8643568
Email: pgoldman@montiethco.com
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