The Catalan company specializes in the installation of photovoltaic self-consumption panels Solaprofit will launch this month Employment Regulation File (ERE) will lay off 30 percent of its staff. This was reported by the company, which has some information this Monday. 1,000 workersAs the website states, the demand for solar panel installation in homes has decreased, after strong competition and inflation’s impact on consumers’ pockets. The cut will affect “several companies” and is expected in October.
After the announcement, the company suffered a loss. 40% drop in stock marketIt is worth 1.44 euros per share. The company presents a positive total net worth of approximately 6.5 million euros as of June 30, which it considers “adequate”.
“Weakness in demand for properties in the residential segment, which is generating lower-than-expected revenues in 2023, along with the cost structure that the company has designed and prepared for a much higher level of activity, has resulted in a consolidated figure, and in a statement sent to BME Growth, where the company is listed, the company reported that its unaudited accounting EBITDA (gross operating result) announced -10.7 million euros, corresponding to the first half of 2023. SolarProfit predicts this EBITDA at the end of the year was around -15 million euros.
Solarprofit updated below Billing estimate up to €78 million, 71% less than expected Previously due to decreased demand for plates in residential buildings, delay in execution of industrial projects and delay in obtaining permits. Invoice forecast and EBITDA in the first half of 2023 stand at 33 and -10.7 million euros, respectively. Concerning the second period, it is estimated that 45 million euros of invoice and 4 million euros of negative EBITDA will be achieved. The company expects the second half of the year to be better than the first, mainly due to the implementation of ERE and new business alliances.
The company anticipates monthly results will be positive again in November as the ERE concludes and a number of measures are taken.”rebalancing expenses and revenue“Improved the cost of customer acquisition, increased sales volume from the project conducted in collaboration with a financial institution, reduction in material costs and reduction in operating costs due to improvement in purchasing prices. Redistribution of areas corresponding to each of the delegations and rationalization of the number of logistics centers and offices.