Eurowind Energy saw its gross profit for 2021-2022 rise to €127.4m compared to €69.7m in the previous year period.
In addition. its profit before tax reach €115.5m compared to €21m in 2020-2021 and the company saw its return on equity for the year reach 26.8%.
The result is based on a very high activity level in all markets and was also impacted by 2021-2022 being the first full financial year with the affiliate Norlys Energy Trading in operation.
Eurowind’s net operational assets grew 24% from 696MW in 2020-2021 to 852MW in 2021-2022.
Jens Rasmussen, CEO of Eurowind Energy Group, commented: “The result of the financial year allows us to accelerate our strategy even further. We will invest every euro we earn in more capacity, thereby generating more green and affordable power to the consumers.
“Our long-term strategy is to hold on to our generating assets in order to earn reoccurring revenue, significantly accelerate development and construction activity and benefit from having a energy trading affiliate. That gives us the best outset to continuously increase the activity level across all markets and technologies.”
Gert Vinther Jorgensen, Chairman of the Board of Eurowind Energy, and Group CFO of 50% shareholder Norlys Group, added: “A big applause to the Eurowind management team for creating a solid base for continued growth with substantial recurring revenue and a well-balanced and growing project development portfolio.
“This places the company in an advantageous position to play an even stronger role in a rapidly changing global energy market, including by leveraging valuable synergies across the green value chain.”