Groupe OKwind Doubles Its Revenue in 2023 to €82.5 Million, 2026 Financial Targets Confirmed

Regulatory News:

Groupe OKwind (FR0013439627 - ALOKW), which is specialized in the design, manufacture and sale of smart energy generation and management systems dedicated to self-consumption, today announces its revenue as of December 31, 2023.

Louis MAURICE, Founder and Chairman of Groupe OKwind, states: "The release of Groupe OKwind's 2023 revenues once again illustrates the growth trajectory recorded for several quarters now. Our business momentum remains solid, and we are posting very strong growth in annual revenue while significantly improving profitability, outperforming our initial EBITDA target. The year 2024 will enable the Company to diversify its customer portfolio, with the ramp-up of orders from industrial and local authority customers, in particular in water and sanitation, as well as from the agrisolar sector. Relying on these growth drivers and sustained activity in our historical markets, we are confirming all our financial targets for 2026. In the shorter term, the Company aims to achieve revenues of more than €110 million in 2024, with a consolidated EBITDA rate of more than 16%. In the shorter term, the Company aims to achieve revenues of more than €110 million in 2024, with a consolidated EBITDA rate of more than 16%".

Record level of activity in 2023

in €m	12/2023	12/2022	Change in %
Revenue	82.5	41.8	+97%
of which BtoB	75.2	37.1	+103%
of which BtoC	7.2	4.7	+54%

In 2023, Groupe OKwind experienced strong growth in activity across its three historical business lines (farms, local authorities/industrial sites and individuals). However, the fourth quarter was impacted by unfavorable weather conditions, which slowed down the installation dynamic on farms.

Overall, Groupe OKwind doubles the revenue achieved in 2022, with a record level of activity in 2023.
Annual revenue thus stands at €82.5 million, up +97% compared with December 31, 2022, and is distributed as follows:

- 91% of revenue from the BtoB segment: €75.2 million, up +103%,
- 9% of revenue from the BtoC segment: €7.2 million, up +54%.

In 2023, firm orders intake amounted to €80.8 million, a similar level vs. 2022, despite the rising interest rate environment and the downward trend in electricity prices. In addition, some farmers have postponed their orders to 2024 following the exceptional weather conditions at the end of 2023. As a result, the order book reached a controlled level of €37.5 million at December 31, 2023, an amount which will enable the Company to deliver an installed cycle time in line with its forecasts.