Holaluz, the energy trader, reported 5.51 million euros in net income for the first half of this year, rebounding from a 3.74 million euro loss in the same period of 2021. Revenues more than tripled year over year, reaching 562.6 million euros. In presenting its September results on Thursday, the company also updated its 2022-2024 business plan, aiming to manage 40,000 installations in 2023 and 75,000 in 2024.
Holaluz posted a gross profit margin of 50.7 million euros and an EBITDA of 19.1 million euros in the first half of 2022, with ambitions to expand those figures fourfold by year-end. Specifically, the company targets 32 million euros of EBITDA in 2023 and 80 million euros in 2024.
The first six months of the year showed solid performance amid rising energy prices sparked by the ongoing energy crisis and a higher volume of energy sold, which together drove turnover in the sector higher. In energy management, the engine reported a profit of up to 552.5 million euros in the first half, more than double the 184.4 million euros invoiced in the same period the previous year.
In solar operations—the company’s core area—the billable volume multiplied fourfold by the end of June, reaching 10.1 million euros compared to the prior year. Holaluz is pursuing what it calls the Roof Revolution, promoting photovoltaic solar energy installation on residential rooftops and gaining momentum into the third quarter of the year, with installations rising to 1,187 in the third quarter compared to 814 in the second quarter and 450 in the first quarter.
Overall, Holaluz had 9,176 installations under management as of September 30, up from 7,737 at the end of June the same year, averaging about 1,250 installations per month. To support this growth, the company hired 336 employees in the third quarter, mainly in sales and installation roles, with the aim of accelerating installations completed by internal teams while maintaining industry-leading delivery times, roughly around 45 days, and increasing overall installation capacity. The company also markets wireless solutions to homeowners under a program offering substantial savings on the electricity bill through solar installations.
The number of electricity and gas customer contracts remained stable in the year’s first term, totaling 367,303 contracts, as the firm focused strictly on its solar business and aligned with its decision not to aggressively grow its portfolio. Earlier, the company announced the completion of its gas marketing program, approximately 70,000 contracts, a development that had a negative effect on EBITDA for 2022 by about 3.9 million euros. For 2023, management expects a negative impact around 6 million euros relative to targets issued in April 2022.