Rasmus Buhl Møller , Head of Corporate Affairs
18 April 2016
Revenues rose 82% from 2014 to pass a 20 billion DKK landmark and Neas Energy realised a 46% growth in EBITDA, to reach an all-time high of DKK 197.5 million.
Increasing demand for Neas Energy’s balancing and trading services and a convincing performance from the company’s asset management activities resulted in growth across the board and a very satisfying financial performance for 2015.
An all-time best
It is a great result and I will not hesitate to call 2015 our all-time best year. Throughout 2015 our core business model for management of energy assets continued to gain traction in our key markets in the Nordics, Germany and UK. At the same time, our power and gas trading activities increased in size and reach across Europe adding valuable flexibility and paving the way for further expansions, says Bo Lynge Rydahl, CEO of Neas Energy.
Among the highlights for the year 2015 were a growing number of customers which resulted in an installed capacity under management of more than 8,000 MW end-of-year, a result from structuring of contracted flows that surpassed all expectations and also a very strong cash flow from both operational and financial activities brought the year-end cash position to DKK 716.1 million compared to DKK 187.6 in 2014.
My fellow board members and I assess that the performance and financial results for 2015 in Neas Energy are very satisfying. The overall development of the company has been very convincing and important political decisions achieved in 2015 to support the low-carbon economy and liberal energy markets reassure both the present and future potential of the company’s business model, comments Karsten Knudsen, Chairman of the board in Neas Energy.
Positioned for growth in next-generation energy markets
The transformation of the European energy sector continued to grow in scale and impact throughout 2015 to increase the underlying market demand for Neas Energy’s asset management services. During the year 2015Neas Energy also received a welcomed 500 million DKK investment from renowned pension fund ATP and its private equity entity Via Venture Partners to strengthen the company’s financial capacity and position the company for further expansion.
We operate at the very forefront of the new energy markets. In my opinion, 2015 confirmed that Neas Energy’s business model represent the next generation in energy asset management. Our underlying markets are driven by a fundamental transformation of the energy sector, which will provide a long term sustainable commercial environment for our business model and great potential for scalability. For 2016 we forecast growth rates similar to 2015 and a return on equity of minimum 30 pct., concludes Bo Lynge Rydahl
For further information please contact:
Head of Corporate Affairs
P: +45 41 31 78 15