Earnings Release • Apr 28, 2022
Earnings Release
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MPC Energy Solutions publishes Q1 2022 results
Amsterdam/Oslo - 28 April 2022 - MPC Energy Solutions N.V. ("MPCES" or
"Company"), Amsterdam, published its Q1 2022 report this morning. The Company
develops, builds, owns and operates renewable energy projects including solar
PV, wind, hybrid and energy efficiency solutions in the Latin-American and
Caribbean regions.
"The first quarter represented an important milestone in MPC Energy Solutions'
history as we generated our first revenue, following the acquisition of a 15.8
MW operational solar PV plant in Mexico. This is another confirmation that we
are proceeding well on our journey to build a fast-growing renewable energy
company with attractive financial returns based on a broad portfolio of assets
in the attractive Latin American and Caribbean region," said Martin Vogt, CEO of
MPC Energy Solutions.
In the first quarter of 2022, MPCES generated revenues of USD 0.5 million,
driven by Los Santos I, solar PV plant in Mexico which was acquired on 4
February. As MPCES is in a build-up phase, the Company recorded an operating
loss (EBIT) of USD 0.8 million (Q1 2021, also negative: USD 0.4 million), and a
net loss of USD 1.3 million (Q1 2021, also negative: USD 0.4 million).
"Our project portfolio includes projects amounting to 114 MW and we have a 550
MW high probability development backlog. As more and more of our projects
achieve important development milestones, enter the construction stage and
commence operation, this value will be reflected in our financial performance in
the quarters and years to come," said Martin Vogt.
MPCES plans significant progress during the remaining quarters of 2022. At the
end of the year, MPCES expects to have operational power plants with a
proportionate combined installed capacity of over 66 MW, delivering 61 GWh (102
GWh in a full operational year) of clean and affordable energy per year.
Proportionate total revenues are expected to reach USD 4.5 million to USD 5.0
million in 2022 and total proportionate EBITDA is expected to be USD 3.1 million
to USD 3.5 million (before corporate expenses).
"MPCES and our largest shareholder MPC Capital have been active in the Latin
American and Caribbean region since 2016, and it is an extremely attractive
environment to operate in. Governments and corporations are very ambitious when
it comes to renewable energy, and we estimate a market opportunity of more than
45 GW in new wind and solar capacity alone in the region by 2030," said Martin
Vogt.
The Q1 report is attached hereto and has also been published on the Company's
website at https://www.mpc-energysolutions.com/investors/reports-presentations
The financial results as well as an update on the Company's projects will be
given during a conference call and simultaneous webcast for the investment
community today at 9:00 am CET (see details below).
Q1 webcast and conference call information:
The Company will host a webcast on Thursday, 28 April 2022 at 9:00 am CET. There
will be a Q&A session after the presentation, and a recording and written
transcript of the webcast will be published on the Company's website afterwards.
The live webcast can be accessed through the following link: https://edge.media
-server.com/mmc/p/jrbhut3n
Alternatively, participants may dial in to the webcast using the below dial-in
information:
. Norway LocalCall Dial-In: +47 2396 0264
. USA LocalCall Dial-In: +1 631 5107 495
. UK LocalCall Dial-In: +44 8445 718892
. International/Toll Dial-In: +44 2071 928000
Conference ID: 2686257
For further information, please contact [email protected].
- ENDS -
About MPC Energy Solutions
MPC Energy Solutions ("MPCES") is a global provider of sustainable energy and
primarily focuses on low-carbon energy infrastructure, including solar and wind
assets, and other hybrid and energy efficiency solutions. The Company
participates in the full project lifecycle of renewable solutions, from early
-stage development through construction and operation. More details at www.mpc
-energysolutions.com
Media contacts
MPC Energy Solutions N.V.
Investor Relations & Public Relations
Email: [email protected]
Norway
Jo Christian Lund-Steigedal
Corporate Communications AS
Phone: +47 415 08733
Email: ( [email protected])[email protected] ( [email protected])
Americas
Perry Goldman
Montieth & Company
Phone: +1 (646) 8643568
Email: [email protected]
United Kingdom
Andrew Berridge
Montieth & Company
Phone: +44 7925 697 215
Email: [email protected]
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