EiDF (Energy, Innovation and Photovoltaic Development) has approved a capital increase worth almost 40 million euros from convertible loans with which the company stops counting 50 million euros of group debt on the balance sheet, as reported the energy company this Saturday in a statement to BME Growth.
This extension responds to the conversion of participating loans into shares subscribed by the energy company during the last two years.
Following the Extraordinary Shareholders’ Meeting, The company increases its share capital by more than 1.74 million euros, divided into nearly 70 million shares behind the creation of more than 10 million shares at 0.025 euros of nominal value each.
“This capital increase is a great boost to achieve all our objectives,” said EiDF CEO, Joan Gelonch.
The decision comes at a time when the New business plan for the energy company, valid until 2028 foresees multiply revenues by almost four in the next five yearsreaching almost 804 million euros, compared to 208.4 million in 2023, and boosting its adjusted gross operating profit (EBITDA) in this period to 233.9 million euros.
According to this plan, EiDF estimates its revenues will fall to €133.4 million this yearcompared to 208.4 million euros in 2023, due to the lower cost of energy and the lower cost of solar panels, according to Europa Press.
The roadmap also sets out how the group’s liabilities will evolve between now and 2028. Starting from an estimate of a debt of 69.4 million euros, EiDF predicts that this indicator will climb to 398.3 million euros in 2027 and decrease in 2028 to 289 million euros.
