Energix raised its revenue and earnings forecast for 2023

"Energix continues to run forward with a consistent and significant increase in project revenue and earnings expectations," said Asi Levinger, CEO of Renewable Energy Company, which is controlled by Aloni Hetz.
Energix raised its revenue and earnings forecast for 2023, and yesterday announced the goals for the 2025 strategic plan. The capital market preferred to look at the medium and long term, ignoring the fact that 2021 will be a year of moderate growth, if any. The stock responded with a 2.5% gain.
Energix's strategic plan for 2025-2021 is based on reaching a cumulative capacity of 3.2 gigawatts of connected projects and construction in 2025, compared to 402 megawatts today and revenues of NIS 1.2 billion in 2025. The strong growth in power and revenues will require an investment of NIS 8.5 billion, equity of NIS 2 billion and the recruitment of another 150 employees.
Energix expects that by 2023 it will reach half of the revenue target it set for itself in 2025 - that is, NIS 700-660 million. This is based on a backlog of 1.6 gigawatts projects that will be built with an investment of NIS 5.3 billion, and will yield a gross profit of NIS 540 million and project returns of 10% before financing. Energeks' forecast for 2021 is much more moderate and reflects a year of investment in the development of the project backlog. Revenues are expected to increase by 6% compared to 2020 and amount to NIS 280 million, and gross profit will increase by 3% in 2021 compared to 2020 and will amount to NIS 225 million.