hep global GmbH, the Baden-Württemberg-based specialist for solar parks and solar investments, recorded sales of EUR 11.8 million in the first half of 2024, compared to EUR 6.6 million in the previous year. The Services segment generated sales of EUR 10.6 million (previous year: EUR 2.3 million), of which EUR 6.1 million (previous year: EUR 0.4 million) was from Delivery, EUR 4.1 million (previous year: EUR 1.9 million) from Development and EUR 0.4 million (previous year: EUR 11 thousand) from other sales revenues. The Investments segment contributed EUR 1.2 million (previous year: EUR 4.3 million) to sales.
The earnings performance was significantly influenced by a further expansion of both the organization and project development in order to implement the increasing number of projects. These measures, which could not yet be offset in terms of their effect on earnings in the first half of the year by the positive earnings contributions from the expanded sales, are expected to significantly increase sales and earnings in the second half of 2024 and in subsequent years. The associated expenses led to earnings before interest and taxes (EBIT) of EUR -13.1 million in the first half of 2024 (previous year: EUR -8.5 million).
As in previous fiscal years, hep expects a significant increase in sales revenues for the second half of the year, which are expected to range between around EUR 50 and 65 million for the year as a whole. Sales revenues will primarily result from the completed construction of a solar park in the USA, but also from the sale of projects that are either fully developed or under development. The adjustment of the original sales forecast of EUR 70 to 75 million is due to the fact that some projects will not be ready-to-build and sold in 2024 but moved into 2025. EBIT is also expected to improve significantly due to transaction proceeds in the second half of the year. For the year as a whole, EBIT is anticipated to be in a range between around EUR -5 million and EUR +1 million (previously: EUR 0 to 5 million).
For further growth by increasing its own value added in the Services segment, hep is intensifying talks with potential strategic investors in the second half of 2024. The company currently covers the entire range of services for the lifecycle of a photovoltaic project, from project development and construction to the operation of a solar park. Currently, options are being examined for building up its own portfolio of solar parks in order to act as an Independent Power Producer (IPP).
The half-year financial report 2024 is available for download on the company’s website at https://hep.global/green-bond/#berichte.