France's Akuo appreciates growing EBITDA, revenues in 2022
- French eco-friendly power manufacturer and developer Akuo on Tuesday reported increased revenues and operating profit in fiscal year 2022, primarily thanks to its growing energy sales.
The firm booked a 13% year-on-year surge in EBITDA to EUR 153 million (USD 164.5 m), with the respective margin reaching 61% from 59% in the year prior to.
At EUR 252 million, consolidated sales rose by 8.4% as energy sales got to EUR 356 million and registered a 19% surge in yearly terms. The improvement was primarily attributed to the payment of plants that went on the internet during the year and in 2021, coupled with the signing of power purchase agreements (PPAs) for French assets and also the sharp increase in wholesale power rates. The latter was a major development motorist for some of Akuo's hydropower plants in Bulgaria as well as Poland, specifically.
At the end of 2022, Akuo had more than 1.5 GW of capacity in operation and incomplete and also greater than 20 GW of jobs in the pipe. The Paris-based business energised five plants completing 30 MW and started constructing near 210 MW at 17 sites throughout the reporting duration.