- Outperformance of the 2022 revenues target announced at the
time of the IPO (€35 million) with a year ahead of the targets:
- Confirmation of the achievement of a consolidated EBITDA rate
of around 10% in 2022
- Continued strong sales momentum in a market environment that
remains favorable:
- Backlog1 up sharply to €45 million at December 31, 2022, vs.
€5.5 million at December 31, 2021
- Strong cash position of €21.8 million at the end of December
2022
- Confirmation of 2026 objectives: revenues of €175 million
and consolidated EBITDA rate of around 20%
Regulatory News:
Groupe OKwind (FR0013439627 - ALOKW) (Paris:ALOKW), which
is specialized in the design, manufacture and sale of intelligent
energy generation and management systems dedicated to
self-consumption, today announces its revenues and cash position as
of December 31, 2022.
Louis MAURICE, Founder and Chairman of Groupe OKwind,
said: "The release of Groupe OKwind's 2022 revenues
demonstrates that we are fully respecting the roadmap presented at
the time of our IPO and are outperforming the objectives defined 6
months ago. The very good commercial momentum we are currently
experiencing confirms the value-added of our solutions in a
favorable context marked by the explosion of the energy bill. It is
with great enthusiasm that we take the opportunity of this release
to confirm our 2026 objectives and to announce that we aim to
achieve, a year ahead of the planned roadmap, €80 million in
revenues for the 2023 fiscal year. With a strong cash position, our
ambition to distribute our immediately available, competitive and
sustainable solution to the greatest number of both professionals
and individuals remains intact".
Outperformance of the 2022 revenues
target announced at the time of the IPO (€35 million):
in €m
12/2022
12/2021
Change
in %
Revenues
41.8
25.2
+65.9%
of which BtoB revenues
37.1
22.6
+64.2%
of which BtoC revenues
4.7
2.6
+80.8%
Over the course of the last quarter 2022, Groupe OKwind recorded
strong growth in its three business segments (farms, local
authorities/industrial sites and individuals).
The electricity price environment remains at ever-high levels.
As a result, many professionals concerned about reducing their
energy bills have chosen Groupe OKwind's solutions, which offer
them low-carbon energy at a reduced and constant cost.
In total, 2022 revenues amount to €41.8 million, an increase by
65.9% compared to December 31, 2021, a level significantly above
the €35 million target set at the time of the Company's IPO in July
2022.
At the same time, the acceleration of the commercial momentum
has continued across all business segments with firm order intake
growing exponentially to €80.6 million for fiscal year 2022, an
increase by 186% compared to 2021.
As a result, the backlog has significantly increased and
amounted to €45 million at December 31, 2022, compared to €5.5
million at December 31, 2021.
The growth in revenues has been accompanied by an EBITDA
performance in line with expectations. The Company confirms the
achievement of a consolidated EBITDA rate of around 10% for the
year 2022.
Cash and cash equivalents at December
31, 2022
As of December 31, 2022, the Group's cash position amounted to
€21.8 million, compared to €2.7 million a year earlier. The success
of the initial public offering in July 2022 with a €20.5 million
capital increase and the issuance of a €3.0 million convertible
bond in favor of Sofiprotéol has strengthened the Company's
financial resources.
During the second half of 2022, the Company experienced a
virtuous operating cycle with control of its Working Capital
Requirements and the acceleration of cash generation.
Post-closing event
On the occasion of the Board of Directors meeting held today,
and pursuant to the authorization granted by the Company's General
Meeting on May 6, 2022, a free share allocation plan equivalent to
approximately 1% of the capital was approved. This plan is intended
for all employees of Groupe OKwind, on the basis of an equal
distribution model. In concrete terms, the individual distribution
of 550 free shares will be made on an equal basis, without taking
into account the hierarchical level or seniority of employees with
a 2-year vesting period and no lock-up period.
Development strategy and
outlook
2023 will enable Groupe OKwind to accelerate its commercial
deployment in all its business segments and more specifically in
the farming market, the Company's 1st market, and with local
authorities and industrial sites. As for the activity with private
individuals (Lumioo), Groupe OKwind will reinforce the coverage of
this vertical throughout France.
In parallel, the Company will consider international development
opportunities.
Groupe OKwind will also focus on consolidating its technological
progress with new product developments, in particular a new range
of trackers currently at the pre-production stage, as well as new
energy management and storage systems.
Currently in a hyper-growth phase, the Company is particularly
careful in structuring its operational development.
To this end, the national network will be strengthened with the
opening of 3 new offices over the course of 2023, bringing their
number to 8. In addition, the Company intends to strengthen its
partnerships with players specialized in the assembly and
installation of trackers.
At the level of production teams, the Company will increase its
resources and optimize its industrial performance by improving the
flow management in its production workshop.
Finally, the supply environment is improving as the continuous
rise in prices seems to be over and supply times are now much
shorter.
With a robust business model and a solid and high-quality
backlog, Groupe OKwind targets revenues of around €80 million for
the year 2023.
In the near term, the Company confirms its 2026 objectives with
revenues of €175 million and a consolidated EBITDA rate of around
20%.
Next financial publication: 2022 Annual results and
Revenues for the 1st quarter of 2023, on April 17, 2023 after
market close.
About Groupe OKwind
Founded in 2009 by Louis Maurice, Chairman and CEO, Groupe
OKwind develops solutions for the production and consumption of
green energy in short supply chains. Our comprehensive approach,
combining energy generation and management, aims to strengthen
energy autonomy and thus accelerate the ecological transition.
Thanks to its unique technological ecosystem, Groupe OKwind enables
self-consumption to assert itself as a new avenue for energy. A
solution that can be quickly deployed, managed in real time and at
a competitive price, without subsidies. Every day, we work to
deploy local, low-carbon, fixed-cost energy for professionals and
individuals. In 2022, Groupe OKwind generated consolidated revenues
of €41.8 million and today has 164 employees, with more than 3,280
installations throughout France.
For more information: www.okwind.fr
1The backlog corresponds to orders for which a purchase
order has been signed, some of which are invoiced on delivery and
the remainder on commissioning of the trackers.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230126005729/en/
Groupe OKwind Investor Relations investors@okwind.com
NewCap Mathilde Bohin / Thomas Grojean Investor Relations
okwind@newcap.eu T.: +33 (0)1 44 71 94 94
NewCap Nicolas Merigeau Media Relations okwind@newcap.eu
T.: +33 (0)1 44 71 94 98
Grafico Azioni Groupe Okwind (EU:ALOKW)
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Grafico Azioni Groupe Okwind (EU:ALOKW)
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