R Energy 1: Increased revenue, stable EBITDA in 2021

R Energy 1 announced the financial results for the financial year ended 2021, characterizing the last financial year as one of the most important in its growth course.

The company showed an increase in the level of sales and managed to maintain its profits at high levels despite the increased costs, which had to be made for the development and acquisition of 2 new projects in Corinth (10 MW) and Magnesia (2MW).

Revenue stood at 3.61 million euros from the sale of electricity generated compared to 3.13 million euros in 2020. At the same time, profits (Ebitda) amounted to 2.15 million euros in 2021 against 2.18 million Euro in 2020. The EBIDTA percentage, in terms of revenue, stood at 60.33% in 2021 compared to 65.62% in 2020.

We could characterize 2021 as a year dedicated to development, since the completion of the 10 MW photovoltaic park in the Municipality of Corinth and the acquisition of the 2MW photovoltaic park in the region of Magnesia contributed greatly to the Group’s revenues. At the same time, the development of 2 Wind Power Stations with a total capacity of 6MW continues through the subsidiaries S Wind and L Wind.

R Energy 1 now produces 30 million KWH per year, a power equivalent to the consumption of 6,500 households.

At the same time, energy production from renewable sources reduces carbon dioxide emissions by 45,000 tons per year, a number that corresponds to 120,000 acres of forest.

At the same time, the above production of electricity contributes to the reduction of the energy costs of the country in an amount that amounts to 15 € per year for each KWH produced.