Holaluz delivers on Normalised EBITDA guidance, reaching 3M€ for FY2023 - Seite 2

Holaluz, an energy transition company aiming to decarbonise the economy, today provided an update on Q4 2023 KPIs as well as a forecast on normalised EBITDA for the financial year 2023.

The company expects to meet the low range ( 3-5 million euros) of normalised EBITDA forecasts for the 2023 financial year according to the business plan published on 31 October, reaching 3M€. 

Despite challenging market conditions - where the residential solar sector in Spain has experienced a 49-54% slowdown due to higher interest rates, a false perception of lower energy prices, and the end of Next Generation subsidies - Holaluz has managed to expand its market share of the solar business from 1.6% in 2022 to more than 3% in 2023.  This represents a 2x increase compared to 2022 (1.6% -2%). This market share places the company as one of the main players in the Spanish residential solar market and is in line with the top 3 players in Germany, the largest distributed generation market, which has an average individual market share of 5-8%.

This improvement has translated into record unit economics for both Solar and Energy Management, achieving positive financial metrics as a result of improved operational excellence. This has materialised from the implementation of measures aimed at improving the gross margin while reducing operating costs (completed with an organisational resizing by the end of 2023).

The Solar business has achieved a sales rate at the end of 2023 similar to 2022, which places Holaluz above the sector average, generating profitable sales with high value for the customer and the company while proving the superiority of its value proposition. Solar contracts under management in Q4 increased by 2% quarter-on-quarter (763 total sales). 

The solar gross margin over sales reached 48.9%, an increase of 21.2% year-on-year. This improvement was due to the sale of larger installations, higher penetration of batteries (15% since the launch in May 2023), the optimisation of COGS (Cost of goods sold), achieving a reduction in unit costs of more than 20% year-on-year and a 47% year-on-year reduction in the cost of acquiring potential customers. This led to a 30% year-on-year increase in the average ticket size per installation. The Greentech company has also implemented other strategic measures, resulting in further optimisation of the structure of the sales and installation teams as well as a reorganisation of the warehouse and supply chain in line with the new operational sales structure.