Renewable energy supplier Goldenergy sees 2020 profit triple to €2M
Goldenergy revealed on Wednesday that it made a profit of €2 million in 2020, up 233% from the €600,000 it achieved the previous year.
Goldenergy, a Portuguese company that sells 100% green gas and electricity, revealed Wednesday that it made a profit of €2 million in 2020, up 233% from the €600,000 it achieved the previous year.
The fifth-largest electricity supplier to domestic customers in Portugal, according to the company, says in a statement that, despite 2020 being a year “strongly marked by the pandemic”, Goldenergy had a “sustained growth” of activity “in practically” all parameters.
In this sense, it highlights the growth in the number of customers, sales volume and market share, in addition to electricity and gas, and adds that it maintains the objective for 2022 of meeting the target of half a million active supply contracts.
Goldenergy sales, in turn, reached €133 million last year, 27% more than the previous year (€105 million), while EBITDA (earnings before tax, interest, amortisation and depreciation) stood at €5.1 million.
This growth in results is justified, above all, by the increase in customers, according to the note.
The company registered more than 295,000 points of supply, which corresponded to an increase in market share, both in electricity and gas.
In 2020, Goldenergy obtained a market share in electricity of 2.7%, when at the end of the previous year it was 1.9%, while in gas, the market share at the end of last year was 11.7%, with the largest growth in the gas market for industry, where it rose from 11.7% in 2019 to a share of 19.6% at the end of last year.
Goldenergy invested €3 million in 2020 in the total digitalisation of the company, aiming to develop a digital platform that “allows it to grow” in Portugal and, “once consolidated”, to think about internationalisation, with Spain being the “natural market” for the start of its international presence, the company stresses in the statement.
In addition to digital means, the company considers direct contact with customers important, so it has planned an investment of 300,000 euros to reach a total of 70 shops by the end of this year.
This year, Goldenergy has entered two new “important segments” of the market, self-consumption and electric mobility, it said.
