German renewables firm Enpal doubles full-year sales
Aug 22 (Reuters) -German renewable energies firm Enpal more than doubled its revenue for the 2023 financial year despite weakening demand for solar panels, the company said on Thursday, adding that overall interest in its offering remained high.
The Berlin-based firm reported sales of 905 million euros ($1.01 billion), up 118% compared to 2022's level, as its adjusted operating profit slightly declined to around 21 million euros, from 23 million last year.
"We will continue our investment programme in 2024 with a focus on the sale and installation of heat pumps and our proprietary energy management platform Enpal.One," Chief Financial Officer Jochen Cassel said in a statement.
In 2023, Enpal commissioned 31,000 new photovoltaic systems and heat pumps, the firm said, adding it registered a 72% growth in new customers compared to last year's level.
In March, the company said that the market needed to be more stable before it would consider going public and that it needed to expand abroad before considering such as move.
($1 = 0.8970 euros)
Reporting by Tristan Veyet and Isabel Demetz in Gdansk, editing by Rachel More
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