Sunlight Group: 52% increase in custom EBITDA and 54% in turnover

Sunlight Group, a member of the international investment group Olympia, announced strong financial results for 2021. for 2021. As mentioned in a relevant announcement, the company continues its dynamic growth with an increase of 54% in Turnover and a 52% improvement in adjusted Earnings before Interest, Taxes and Depreciation (EBITDA), compared to 2020. Noting Another year, it continues to implement its diversified business plan, totaling € 560 million. securing and strengthening the company’s supply chain and sales network. For this purpose, Sunlight Group invests in its facilities in Greece and abroad in equipment, automated production, robotic systems, assembly lines, Research & Development, human resources, as well as Mergers & Acquisitions.

Sunlight Group’s Turnover for 2021 amounted to € 272 million instead of € 177 million last year, an increase of 54%. The increase is attributed to the Sunlight Group’s dynamic repositioning in the global market, coupled with rising production trends, as the traction battery and power storage industry is gradually recovering from the effects of the pandemic. The company was well prepared to meet the demand, thanks to the excellent performance of its production units in Xanthi, Komotini, Verona, Italy and Greensboro, North Carolina (USA). Specifically, in 2021 the total production of Sunlight exceeded 3.25 million traction elements and 150,000 elements of energy storage from renewable sources, while in the 4th quarter of the year the production rate increased even more. Thanks to the addition of facilities and equipment, it reached 3.6 million traction elements on an annual basis. In comparison, in May 2018, when a catastrophic fire broke out at the company’s factory in Xanthi, the annual data production did not exceed 1.8 million data. In less than four years and in the midst of a pandemic, the strong will of the shareholders and the management team and the redefinition of the Sunlight Group’s business plan have resulted in a doubling of production.

Despite the sharp rise in the cost of raw materials and electricity in the second half of 2021, which affected profitability, Sunlight also recorded a significant increase in turnover and profits. This success is based mainly on enhanced sales volume and careful management of production costs – especially traction batteries. The company also gained access to significant new customers in the field of Original Equipment Manufacturers (OEMs) for lithium ion and lead-acid energy storage solutions, and expanded its product portfolio. Within 2021, it launched two new and innovative products: the lithium-ion semi-traction battery, Sunlight ElectroLiFe, and the Sunlight KnoWi, an innovative lead-acid Battery Management System (BMS). Also based on its strong balance sheet, Sunlight has strengthened its supply chain and cooperation with its suppliers, and increased its raw material stocks, shielding the company from ongoing challenges.

Commenting on the financial results of 2021, Mr. Lambros Bisalas, CEO of Sunlight Group, noted: “I am very proud of another year of strong economic performance despite the significant challenges in terms of material and energy costs, challenges unprecedented for the global market. The results show our focus on Sunlight becoming a global leader in the industrial vehicle market and energy storage systems, and we are implementing an investment strategy that manages both short-term and long-term challenges and opportunities. corporate governance, we have added international experience to Sunlight’s Board of Directors and Executive Committee, forming a strong leadership team that will lead the company into the future and help us achieve our business goals. , infrastructure and state-of-the-art systems and equipment, with a view to long-term sustainable development that in the coming years will bring even more sales and even higher profitability. “There are significant economic and geopolitical challenges ahead of us, but the shareholders and the leadership team of Sunlight Group remain true to the vision and committed to the dynamic investment and expansion program implemented by the company.”

With the aim of further increasing its production and development, Sunlight Group implements a diversified and strategic business plan of € 560 million, of which € 450 million is related to investments, for the expansion of its sales network and production capacity in 6.3 million battery components by the end of 2023.

It also continues to invest steadily in Research & Development, having formed a specialized team of more than 120 renowned scientists and engineers. An important part of this investment concerns the implementation of the € 105 million project “Development of innovations in the field of lithium batteries for the energy storage industry” (European Battery Innovation – EuBatIn), which has been identified as an Important Project of Common European Interest and co-financed by EU. The project focuses on the development of innovative lithium technologies for the energy storage sector and off-road industrial electrification. As part of its implementation, Sunlight is installing a pilot production line for prototype lithium components at its industrial complex in Xanthi.

Investments are also being made in strengthening human resources. As of December 31, 2021, Sunlight and its subsidiaries employed 1,348 people, ie 350 more people (an increase of 35.1%) compared to 2020. This dynamic hiring policy reflects the company’s readiness to support the estimated significant growth rates in the coming years. At the same time, Sunlight Group distributed to its employees more than € 3 million in additional benefits from the profitability of 2021, as a sign of appreciation for their contribution to the corporate goals.

Sunlight Group continues its activities to expand the company’s sales, distribution, and service network through Mergers & Acquisitions, in order to best serve the European and international markets, while strengthening its supply chain and verticalization. of its production. Recent developments in this area include the acquisition of Technoform, a Kilkis-based company active in the design and manufacture of high-tech molds and components, and the acquisition of PBM SRL, an internationally recognized leader in the production of battery chargers and industrial electronics .

Consistent in the strategic direction of value creation for the Greek economy and the local communities where it operates, Sunlight recorded for the second consecutive year a significant increase in the social product it creates through the payment of social contributions and taxes. An increase of 24% compared to the previous year. In addition, it enhances direct employment in remote Thrace, where it operates facilities, employing workers from local communities in excess of 70% of its total workforce, and supports indirect employment through the supply of goods and services by local companies. Finally, as the only company based in Greece that is active in the production of batteries and energy storage systems, namely in applications of new technologies such as lithium, Sunlight Group focuses on creating knowledge and favorable growth prospects for the industry internationally.