Energix: In 2021, revenues will amount to NIS 275-285 million – gas and oil

Renewable Energy Company

Energix
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The operator in Israel, the United States and Poland ended 2020 with a 10% increase in revenues, which amounted to NIS 263 million, compared with NIS 239 million in 2019.

In the fourth quarter of 2020, revenues amounted to NIS 68 million, compared with NIS 60.5 million in the corresponding period last year. An increase of about 12%.

EBITDA Increased by 6% to NIS 196 million, compared with NIS 184 million in the corresponding period last year. The increase is mainly due to the increase in the Company’s revenues, which was partially offset by an increase in operating expenses as a result of the increase in the volume of activity.
EBITDA In the fourth quarter of 2020, it amounted to NIS 49.6 million, compared with NIS 44 million in the corresponding quarter last year. An increase of about 13%.

In the forecast for 2021 The company estimates that revenues will amount to between NIS 275-285 million. The gross profit from the projects will amount to between NIS 220-230 million and the FFO from the projects will amount to between NIS 182-192 million.

In addition, Energix is ​​updating its forecasts for 2023 on an upward basis based on the company’s mature backlog: the volume of revenues will be in the range of NIS 660-700 million, the expected gross profit from the projects will be in the range of NIS 520-560 million and the FFO from the projects will be in the range of 420 NIS 460 million – constitutes an increase of over 150% in all parameters in relation to the date of the report.

The equity attributed to the company’s shareholders as of December 31, 2020 amounted to NIS 1,580 million, compared with NIS 993 million in 2019. Most of the increase in equity is due to the issuance of shares to the public during the period in the total amount of NIS 461 million, from the exercise of options in the amount of NIS 114 million and from the company’s net profit. The balance of cash as of the date of the report stands at NIS 962 million, compared with NIS 151 million at the end of 2019, most of which is due to the issuance of shares and convertible bonds during the period in the amount of NIS 960 million.

The profit attributed to shareholders in 2020 increased by approximately 24%, and amounted to approximately NIS 78 million, compared with approximately NIS 63 million in the corresponding year last year.
Net profit to shareholders In the fourth quarter of 2020, it amounted to NIS 13 million, compared with a similar amount in the corresponding period. Net profit for shareholders amounted to NIS 78 million, compared with a profit of NIS 62 million in the corresponding period, an increase of 24%.

Energix Renewable Energy, raised capital in 2020 in the amount of NIS 961 million as part of raising capital and issuing bonds for conversion to the public. The company is engaged in the development, development, financing, construction, management and operation of clean electricity generation systems Photovoltaic, including combining storage and wind energy, the company began operations in September 2009 and was listed on the Tel Aviv Stock Exchange in May 2011.

Following the reports, the Company announced its intention to distribute a dividend of 18 cents for 2021 in quarterly installments (4 cents in the first and second quarters, and 5 cents in the third and fourth quarters). Accordingly, the company announced a dividend distribution for the first quarter in the amount of 4 agorot per share (approximately NIS 19 million), which will be paid in April 2021.

Against the background of the reports, Asa (Asi) Levinger, CEO of Energix He said: “2020 was a significant year for Energix. We worked intensively to increase the backlog of projects in the initiative, which grew by 80% from a power of about 1.4 GW to about 2.5 GW. At the same time, we continued the construction work of the projects About 25%. We are proud of our activity in the United States and of the significant progress we have made in implementing our penetration plan for the American market. We have established a solid infrastructure for continued massive growth in the US, as a major growth engine for Energix in the coming years that will allow the construction of hundreds of additional MWp. “We will continue to grow even in the longer term. We estimate that as early as 2023, the company will significantly increase its operating results by about 150%, both in revenue and gross profit and in FFO from projects.”