MPC Energy Solutions – H1 2023 results

Yesterday, MPC Energy Solutions reported its half-year results. Together with the company’s CFO and interim CEO Stefan H.A. Meichsner, we went through the recent results and the reasons why the results are back-end loaded.

In the first half of 2023, total revenue reached USD 4.1m and EBITDA was USD 1.8m, which is higher than the full-year 2022 results. Full-year 2023 guidance of USD 10m and USD 7m on project-level operating profit was maintained.

The results, and to a higher degree the maintained guidance, are indicators that the operational model works as it is driven by facilities coming online. However, the share is still trading with a discount to the Net Asset Value (NAV) of around 60%.

MPC Energy Solutions (MPCES) develops, builds, owns, and operates renewable energy assets, including utility-scale solar photovoltaics (PV) and onshore wind farms, as well as combined-heat-and-power (CHP) installations, energy efficiency solutions, and hybrid projects, combining renewable sources and storage technologies. The projects are primarily situated in Latin America and the Caribbean region.

Disclaimer: HC Andersen Capital receives payment from MPC Energy Solutions for a Corporate Visibility/Digital IR subscription agreement. /Michael Friis 08:05, 1 August 2023.