Audax Renovables (ADX) Q4 2024 earnings summary

Executive summary

• Vertically integrated energy group focused on 100% renewable generation and retail of electricity and gas, operating in 9 countries.

• Achieved historic net profit of EUR 63.3 million, doubling last year's result, and EBITDA of EUR 115.4 million (+20%).

• Client base grew by 20.4%, portfolio by 24.7%, and energy supplied by 12.3%, driving gross margin stability despite a 13.3% revenue decline due to lower energy prices.

• Net financial debt reduced by 7.8%, with NFD/EBITDA ratio improving from 2.5x to 1.9x.

• Strategic focus on sustainable, profitable growth, debt reduction, and shareholder returns.

Financial highlights

• Revenues: EUR 1,987.8M (-13.3% year-over-year); Gross margin: EUR 235.7M (-0.3%).

• EBITDA: EUR 115.4M (+20.0%); EBIT: EUR 93.6M (+24.6%).

• Net profit: EUR 63.3M (+102%); Net profit attributable to parent: EUR 60.6M (+109%).

• Net financial debt: EUR 222.4M (excluding IFRS 16), down 7.8%; leverage at 52.2%.

• Cash and equivalents at year-end: EUR 228.8M.

Outlook and guidance

• Approved shareholder remuneration policy of EUR 15M per year in dividends or equivalent for 2024–2026.

• Ongoing focus on organic and inorganic expansion, profitability, and further debt reduction.

• Confident in continued improvement and sector leadership.