Neoen: 9m sales down 5%

(CercleFinance.com) - Neoen reports sales for the first nine months of 2024 of E378.
4m, down 5% y-o-y at current exchange rates, and down 4% at constant exchange rates.

This performance is mainly linked to the mechanical effect of the entry into force of the PPAs of several power plants that benefited from significant early generation revenues during the same period last year, the renewable energies group says.

With 1.4 GW of new projects won during the first nine months of the year, its secured portfolio reached almost 10.4 GW at the end of September 2024, including 8.7 GW of assets in operation or under construction.

Neoen confirms its 2024 adjusted EBITDA target of E530m to E560m, with a margin rate over 85%, as well as its ambition to see its adjusted EBITDA exceed E700m in 2025.


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