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hep confirms growth course
Significant increases in revenue and earnings in the fiscal year 2021 based on preliminary, unaudited figures.
Güglingen, 4 April 2022 – hep global GmbH, an international specialist for the development, realization and operational management of photovoltaic projects as well as investment manager for solar funds via subsidiaries, can look back on a successful fiscal year 2021. Based on preliminary, unaudited consolidated figures in accordance with the German Commercial Code (HGB) for the year 2021, revenue rose from EUR 52.9 million in the year 2020¹ to around EUR 60 million. At the same time, hep was able to increase total output from EUR 42.1 million¹ to around EUR 97 million. On the earnings side, earnings before interest and taxes (EBIT) improved from EUR ‑3.3 million¹ to an expected figure of around EUR 8 million. The significant increases in revenue and earnings in the fiscal year 2021 were due among other things to the completion of project development services in the USA. In addition, the US-American hep petra Group, in which a majority stake was acquired in 2020, generated revenue from the project development, construction and operation of solar parks. In total, five solar parks in the USA were successfully completed in 2021. A further 14 projects were in the construction phase at the end of 2021.
Parallel to the successful operating business, hep strengthened its internal organization in fiscal year 2021 through the targeted optimization of processes and the establishment of expanded structures in order to ensure the realization of the significant growth potential. The global organizational structure was redefined and structures were streamlined, for example by merging hep energy GmbH, hep energy projects GmbH and hep energy operations GmbH. All these measures are intended to generate synergy effects and further increase the efficiency and profitability of the Group. In addition, the Group-wide introduction of the modern ERP system SAP S4 HANA was started.
Christian Hamann, founder and CEO of hep global GmbH: “We are pleased about the successful business development in 2021, in which we have further strengthened our growth trend. In addition to the significant increases in revenue and earnings, we were also able to achieve important organizational optimizations and thus create the prerequisites for further sustainable growth.” The fiscal years 2022 and 2023 are expected to be characterized by the realization of numerous projects that are currently already in the late stage of project development. In total, these are projects with a nominal output of around 800 MWp, which are expected to reach ready-to-build status and be constructed within the next 24 months. The current geopolitical situation and in particular the Russia-Ukraine war also pose new challenges for the solar industry.
However, the potential impact on hep cannot be estimated at present, which means that certain forecast uncertainties arise with regard to the further development of revenue and earnings. For example, disruptions in supply chains or increased raw material and transport costs may also have an impact on the construction of solar parks. On the other hand, the significant cost increases of fossil raw materials, the resulting higher energy prices and the increasingly important energy independence represent strong arguments for the even faster and more intensive global expansion of solar energy. The audited consolidated financial statements 2021 are expected to be published on the company’s website at www.hep.global/green-bond in the financial reports section at the end of June 2022.
¹ All disclosures for the year 2020 according to the audited consolidated financial statements in accordance with the German Commercial Code (HGB)