6
Financial Report
Our group's financial figures for the past year. The audited, consolidated figures, according to IFRS.
Transparency is in our DNA. It is a key component of our business ethos. In this chapter, we take a look at our financial performance during the 2023 financial year. In providing an analysis of our income, outgoings, profitability and financial position, our focus is on openness and accuracy.
Key figures
(Consolidated figures IFRS)
In 2023, we acquired software company Intrimm. With this takeover, we are able to considerably optimise and expand our own installations, forming a direct link to our customers’ energy needs.
We also acquired the remaining shares of MyEV-Platform, expanding our opportunities in smart charging solutions.
Both stakes essential serve to help build on our data-driven model within the energy transition market.
Two companies were set up in Belgium and two in China: - EnergyCenter for balancing energy supply and demand - Solarbuild 7: SPV for PV installations - Weiyang New Energy Technology: project development in Linzou - Weineng New Energy Technology: project development in Jinan
Revenue (in EUR million)
(Consolidated figures IFRS)
2021
2022
2023
Revenue per country in 2023 (in EUR million)
China
Belgium
Morocco
(Consolidated figures IFRS)
EBITDA (in EUR million)
(Consolidated figures IFRS)
Change revenue per country (in EUR million)
(Consolidated figures IFRS)
Consolidated income statement
(Consolidated figures IFRS)
- Profit grew 4% compared to the previous year, going over the 120-million-euro mark.
- EBITDA rose from EUR 26.3 million to EUR 30.3 million, an increase of more than 15%. And yet, market conditions were not easy. The market saw a significant decline in turnover and profit among energy providers, as well as with industrial PV plant operators and EPCs. In addition, 2023 was marked by low levels of sunlight, while we had one-off very high energy prices in 2022, which normalised in 2023.
- Equity was up again thanks to the EUR 6 million in reserves and a capital injection of EUR 6 million.
- Last year, we once again made significant investments. EUR 29 million was invested in PV installations, along with EUR 5 million in charging infrastructure. Additionally, we invested EUR 11 million in software and our digitisation through the takeover of software companies Intrimm and MyEV-Platform, further developing these to our requirements and integrate into our operating systems.
Consolidated cash flow statement
Consolidated balance sheet
(Consolidated figures IFRS)
Composition: Ilse Maes
With assistance from: Laurens De Greef, Laura Maenhaut, Koen Decourt, Klaas Michielssens, Michèle Adams, Kathleen Van Herrewegen, Sander Wille, Elias Pittoors, Jan De Rycke, Lizz De Walsche, Jonas Haustraete, Meghan Richil, Stijn Keppens
Design: Ilse Maes
Publisher: Maarten Michielssens
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