Atlantica’s Q4 Revenue From Renewables Segment Drops 17% YoY
Revenue for 2022 was $1.1 billion, down by 8% from $1.2 billion in 2021
Atlantica Sustainable Infrastructure, a UK-headquartered sustainable infrastructure company, posted a revenue of $244 million in the fourth quarter (Q4) of the financial year 2022, a year-over-year (YoY) decrease of 10% from $271.3 million.
The company owns a diversified portfolio of contracted renewable energy, storage, natural gas, power transmission, and water assets in North and South America and other regions.
The company’s renewable energy portfolio grew to 2,121 MW in 2022 from 2,044 MW in 2021.
The firm’s revenue from the renewables segment stood at $168.6 million, down by 17% from $202.7 million in the same quarter of last year due to a slump in generation.
Generation from renewable sources fell by 3% YoY to 1,164 GWh in Q4.
The company’s net profit for the period came in at $4 million against a net loss of $11.9 million in Q4 2021.
The financial expenses for the October-December quarter decreased 4% at $86 million compared to $89.4 million in the same quarter the previous year.
The Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) totaled $166.4 million for Q4, down by 13% YoY.
The renewables EBITDA amounted to $118.1 million, down by 15% YoY.
Full Year 2022
Atlantica’s net loss for FY 2022 narrowed to $5.4 million from $30 million in the previous year.
The company posted a total revenue of $1.1 billion, down 8% from $1.2 billion in the previous year.
The renewables revenue stood at $821.4 million, down by 12% YoY even as the production increased by 15% to 5.3 GW during the year.
Atlantica posted a total EBITDA of $797.1 million, down by 3% from $824.3 million in the previous year. Renewables EBITDA for the year fell by 2% YoY to $588 million.
Atlantica Sustainable Infrastructure’s renewable business recorded a revenue of $232.42 million in the third quarter of 2022, a decrease of 8.54% YoY from $254.13 million.
The company’s renewable energy production and battery storage systems totaled 1.9 GWh in the first quarter, an 80.5% from 606 GWh in Q1 2021.