MPC Energy Solutions releases its 2021 preliminary unaudited financial statements and year-end project update, demonstrating a growing presence in its key markets in Latin America and the Caribbean
AMSTERDAM and OSLO, Norway, March 3, 2022 /PRNewswire/ -- "2021 was an eventful year for MPC Energy Solutions. We made significant progress and expanded our broad portfolio of renewable energy assets in Latin America and the Caribbean. And now, in Q1 2022, we are reaching another important milestone, as our first projects become operational and start generating revenue," said CEO of MPC Energy Solutions Martin Vogt.
With the renowned German investment manager MPC Capital as its sponsor and largest shareholder, MPC Energy Solutions is driving the transition to renewable energy with focus on Latin America and the Caribbean – regions that are at the forefront of renewable energy ambitions. The market opportunity is estimated at more than 45 GW in wind and solar alone by 2030 with a growth rate of 14.3%. MPC Energy Solutions has a dedicated and experienced team on the ground, with projects in seven countries to bring clean and affordable energy to developing markets.
"Latin America and the Caribbean are among the most attractive geographies for solar and wind power, and at the same time governments are highly focused on the transition to renewable energy. We are proud to be a key partner for these countries in a region where the consequences of climate change are more severe than in many other places on the planet," said Martin Vogt.
Among the Company's main achievements during its first year after the IPO was the construction start of four different projects in Colombia, El Salvador, and on the island of St. Kitts and Nevis. MPC Energy Solutions also signed contracts for the acquisition of two assets in Mexico and Puerto Rico, respectively, and established strategic partnership with US-based C&I focused developer Enernet Global as well as with Swiss-based energy storage solutions company Leclanché SA.
"With the completed acquisition in Mexico, our company has reached an important milestone earlier this year. We are starting to generate revenues and returns on the investments we made. Our project portfolio is diversified and of excellent quality, with average EBITDA margins expected to exceed 75%. The region and its growth potential is attractive for us and our shareholders," said Vogt.
Attached to this press release and ahead of its annual report which will be released on 20 April 2022, MPC Energy Solutions publishes its preliminary and unaudited financial statements for the year ending 31 December 2021 this morning. The financial performance in 2021 is in line with management's expectations, in a year focused on ramping up the organization, progressing project development, and making first investments. The company did not generate revenues in its first full year of operations yet, and ended 2021 with a negative operating income (EBIT) of USD 3.1 million and a net loss of USD 2.8 million. Total assets amounted to USD 83.9 million. "We are well financed to be able to deliver on our advanced portfolio. We have no long-term financial debt, and at the end of 2021, we had a cash position of USD 56.8 million," mentioned Vogt.
Webcast
A conference call and simultaneous webcast for the investment community will be held 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.
From today 09:00 am CET the Project Update presentation to be reviewed during the conference call and webcast will be available on our website: https://www.mpc-energysolutions.com/investor-relations/news-publications.
The live webcast can be accessed through the following link: https://edge.media-server.com/mmc/p/xp25s9w3
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 3333 009396
- International/Toll Dial-In: +44 2071 928000
Conference ID: 7698051
For further information, please contact [email protected].
About MPC Energy Solutions
MPC Energy Solutions 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]
Americas
Perry Goldman
Montieth & Company
Phone: +1 (646) 8643568
Email: [email protected]
United Kingdom
Andrew Berridge
Montieth & Company
Phone: +44 020 38575478
Email: aberridge@montiethco.com
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
MPCES_Preliminary and Unaudited FS 2021 |
SOURCE MPC Energy Solutions N.V.
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