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hep confirms growth course

4. April 2022

Signi­fi­cant incre­ases in revenue and earnings in the fiscal year 2021 based on preli­mi­nary, unau­dited figures.

Solarenergie: Leidet die Rentabilität?

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.

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¹ All disclo­sures for the year 2020 according to the audited conso­li­dated finan­cial state­ments in accordance with the German Commer­cial Code (HGB)