Profit Multiplication at NAP Plc.

The consolidated net sales of NAP Plc. for 2022 exceeded HUF 2.4 billion, which is almost four times the comparable figure for 2021, according to the company’s annual report published on the website of the Budapest Stock Exchange.  

In 2022, the company acquired 21 small power plants operating under the METÁR-KÁT support scheme. NAP Plc. EBITDA will exceed HUF 1.9 billion, while net income is HUF 1.2 billion.

At the end of 2022, the company had a book value of HUF 9.7 billion in solar power plant parks and real estate. The closing cash position for the year was HUF 2.9 billion. The amount of equity almost reached HUF 10.0 billion at the end of 2022. Total assets amounted to HUF 18,9 billion.

In view of the economic difficulties that arose last year and are still ongoing, the Board of Directors of the company attaches great importance to securing funding at an appropriate price, which it plans to do by participating in loan programs with preferential terms and by raising additional capital, the report says.

The latter will also require the company's shares to be traded on BSE's Standard Market, and preparations for this are being made in parallel with the events of the 2023 Annual General Meeting. The company's objective is to achieve the largest possible portfolio size in the shortest possible time and, at the same time, to ensure the conditions for efficient operation. The Board of Directors aims at achieving the 100 MW AC / 115 MW DC capacity solar power plant portfolio.

The company has also embarked on the path of building a conscious "green" strategy: it joined it in October 2022, being among the first to participate in the auction market for guarantees of origin, created by the National Energy Exchange. ((These guarantees are generated together with the certificates of origin of the energy produced by renewable energy producers and the electricity generated.) In addition, the company has developed and qualified its own green financing framework, which has created the possibility to broaden its financing portfolio in the future by issuing its own bonds and/or participating in tied loan programs linked to green objectives.