hep global GmbH: Group revenue 2023 reaches EUR 73.3 million and Group EBIT increases to EUR 3.1 million

Güglingen, 1 July 2024 – hep global GmbH, the Baden-Württemberg-based specialist for solar parks and solar investments, can look back on an overall satisfactory fiscal year 2023. The growth trend of recent years in the Group’s total operating performance continued with an increase from EUR 67.9 million to EUR 91.0 million.

At EUR 73.3 million, Group revenue was below the previous year’s figure of EUR 94.8 million, but well above the forecast range of EUR 50 to 60 million. The lower revenue, which had already been forecasted, is due to the fact that, as expected, no solar parks under construction were completed in 2023. Accordingly, the progress made on construction projects had a positive offsetting effect on changes in inventories of EUR 16.9 million for solar parks under construction. These will be recognized in revenue in 2024.

In the Services segment, hep generated revenues of EUR 66.3 million (2022: EUR 86.5 million). Revenue from project development services was generated in particular from the sale of projects in Japan and Canada to German fund companies and from the sale of projects in the USA. The sale of the largest project in Canada alone generated revenue of EUR 42.2 million.

In the Investments segment, new business developed positively as three further special AIFs were launched. In 2023, limited partner capital of EUR 16.3 million was raised for these “Article 9 funds” in accordance with the EU sustainability taxonomy. In the Investments segment’s existing business, EUR 35.4 million was raised for the public AIF HEP – Solar Green Energy Impact Fund 1 (SGEIF 1), among others.

The earnings situation of the hep global Group was satisfactory in the fiscal year 2023 in view of the general market environment with persistently high inflation and the correspondingly high interest rate level in the core markets. Group earnings before interest and taxes (EBIT) rose from EUR 2.1 million to EUR 3.1 million and were therefore within the forecast range of EUR 0 to 5 million. Group net profit for the year increased significantly from EUR 0.4 million to EUR 1.7 million.

Forecast for the fiscal year 2024

For the fiscal year 2024, the management is forecasting Group revenue of between EUR 70 million and EUR 75 million. The revenue trend will be based on the completion of construction projects in the USA, among other things. Group earnings before interest and taxes (EBIT) are expected to be within a range of EUR 0 to 5 million.

hep will continuously expand its business in the European market and its project pipeline in 2024. To this end, a cooperation agreement already concluded in 2023, which gives hep exclusive access to over 10,000 spaces in central Germany, is to be supplemented by further comparable agreements. Additional contributions are expected from development agreements that were already concluded in the first half of 2024 and provide for development and construction exclusively for individual investors, who will assume the financing. In all markets hep will focus on securing further solar projects. This plan is to be supported and accelerated by the 8% Green Bond 2023/2028 (WKN: A35148, ISIN: DE000A351488), which is currently being placed.

hep solar

hep solar is a specialist for solar investments and solar parks. The owner-managed family business from Baden-Württemberg develops, builds, operates and finances solar parks all over the world, but especially in Germany, Japan and North America. For over 15 years, hep solar has been combining know-how in the operational management of solar parks with a high level of expertise in the financial sector. The company covers the entire solar energy value chain: from project development and construction to long-term operation. Through international solar investments, hep solar offers investors the opportunity to participate in the global expansion of solar energy. hep solar employs around 200 people worldwide with offices in Germany, Japan, the USA and Canada.

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