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Enlight Renewable Energy reported financial results for Q1 2024, with revenue of $90m (up 27% YoY), adjusted EBITDA of $68m (up 28% YoY), net income of $24m (down 26% YoY), and cash flow from operations of $35m (down 36% YoY). The company reaffirmed its full-year 2024 guidance.
Key developments include high generation volumes at wind projects, progress on U.S. projects, financial close for European projects, and strong operational performance. CEO Gilad Yavetz highlighted the robust start to 2024 and positive outlook for the year.
Revenue distribution by segment showed growth in Israel, Central-Eastern Europe, and Western Europe. Net income decreased due to one-off benefits in the previous year, while adjusted EBITDA saw a 28% increase driven by revenue growth.
Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) reported Q3 2023 financial results, including a 3% increase in revenue to $58m, net income up 35% to $26m, and Adjusted EBITDA up 32% to $47m. The company also finalized project finance for over $500m and divested non-core projects for $19m. Business developments include achieving the 2023 project plan and expanding the Mature Project portfolio by 530 MW and 1.3 GWh. The company's CEO highlighted the continued growth in profitability, robust project returns, and deep access to capital, despite the higher interest rate environment. The portfolio now includes a total of 1.8 GW of generation, with plans to reach 4.6 GW and 3.6 GWh of operational projects extending into 2026 CODs. The company also highlighted the impact of hostilities in Israel on its activities, emphasizing minimal disruption and continued focus on operations.
