New Risk • May 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.9% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Share price has been highly volatile over the past 3 months (7.2% average weekly change). High level of non-cash earnings (51% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (5.9% net profit margin). Price Target Changed • May 28
Price target increased by 7.6% to €127 Up from €118, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of €127. Stock is up 88% over the past year. The company is forecast to post earnings per share of €3.26 for next year compared to €3.11 last year. Live nieuws • May 28
Grenergy Commits €3.7b to Expansion With Focus on Europe USA and AI Cloud Campuses Grenergy Renovables has outlined a €3.7b capital expenditure plan for 2026-2028, focused on expanding its global footprint.
The company plans to reduce its exposure to Chile while directing more investment to Europe and the USA.
Grenergy is scaling its energy storage business, targeting Oasis platforms of 5 gigawatts and 22 gigawatt hours, and is moving into AI-focused cloud campuses in Chile powered by renewables.
This combination of large-scale CapEx, broader geographic spread and a push into data center infrastructure signals a shift from being a pure project developer to a more diversified clean-energy and digital-infrastructure platform.
Investors will want to watch how Grenergy funds this €3.7b plan, the execution risk around its storage buildout, and the added complexity of entering the AI data center market in parallel with international expansion. New Risk • May 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Spanish stocks, typically moving 7.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.8% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (7.1% average weekly change). High level of non-cash earnings (56% accrual ratio). Major Estimate Revision • May 17
Consensus revenue estimates increase by 11%, EPS downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €699.3m to €778.4m. EPS estimate fell from €3.45 to €3.32. Net income forecast to grow 8.0% next year vs 39% growth forecast for Renewable Energy industry in Spain. Consensus price target up from €114 to €118. Share price fell 2.2% to €118 over the past week. Price Target Changed • May 15
Price target increased by 9.1% to €118 Up from €108, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of €118. Stock is up 121% over the past year. The company is forecast to post earnings per share of €3.34 for next year compared to €3.11 last year. Aankondiging • Mar 27
Grenergy Renovables, S.A., Annual General Meeting, Apr 28, 2026 Grenergy Renovables, S.A., Annual General Meeting, Apr 28, 2026. Location: calle rafael boti 26, madrid., Spain Major Estimate Revision • Mar 04
Consensus revenue estimates increase by 44%, EPS downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €700.2m to €1.01b. EPS estimate fell from €3.78 to €3.52. Net income forecast to grow 19% next year vs 0.9% decline forecast for Renewable Energy industry in Spain. Consensus price target up from €97.92 to €107. Share price fell 7.4% to €103 over the past week. New Risk • Feb 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 2.9% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.9% operating cash flow to total debt). High level of non-cash earnings (57% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (4.8% average weekly change). Major Estimate Revision • Feb 20
Consensus revenue estimates increase by 19% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €629.7m to €750.4m. EPS estimate unchanged at €3.13. Net income forecast to grow 4.2% next year vs 9.2% decline forecast for Renewable Energy industry in Spain. Consensus price target up from €89.17 to €101. Share price was steady at €106 over the past week. Price Target Changed • Feb 16
Price target increased by 7.8% to €96.10 Up from €89.17, the current price target is an average from 11 analysts. New target price is 12% below last closing price of €109. Stock is up 178% over the past year. The company is forecast to post earnings per share of €3.15 for next year compared to €2.11 last year. Aankondiging • Jan 28
Grenergy Renovables, S.A. to Report Fiscal Year 2025 Results on Feb 24, 2026 Grenergy Renovables, S.A. announced that they will report fiscal year 2025 results After-Market on Feb 24, 2026 Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €82.50, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 15x in the Renewable Energy industry in Spain. Total returns to shareholders of 189% over the past three years. Major Estimate Revision • Dec 09
Consensus EPS estimates fall by 24% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €4.08 to €3.12 per share. Revenue forecast steady at €639.2m. Net income forecast to grow 3.1% next year vs 10% decline forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €84.16. Share price was steady at €71.30 over the past week. Major Estimate Revision • Dec 04
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 consensus EPS increased from €3.22 to €3.55. Revenues were reaffirmed at €639.3m. Net income forecast to grow 6.2% next year vs 8.4% decline forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €83.16. Share price was steady at €70.50 over the past week. Reported Earnings • Nov 29
Third quarter 2025 earnings released Third quarter 2025 results: EPS: €0.37. Revenue: €249.0m (up 192% from 3Q 2024). Net income: €10.4m (up 76% from 3Q 2024). Profit margin: 4.2% (down from 6.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Spain are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Oct 28
Consensus revenue estimates increase by 16%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €549.6m to €639.3m. EPS estimate fell from €3.16 to €3.05. Net income forecast to shrink 5.0% next year vs 3.3% decline forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €82.16. Share price rose 11% to €76.80 over the past week. Aankondiging • Oct 22
Grenergy Renovables, S.A. to Report Nine Months, 2025 Results on Nov 27, 2025 Grenergy Renovables, S.A. announced that they will report nine months, 2025 results on Nov 27, 2025 Major Estimate Revision • Oct 02
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €647.4m to €586.5m. EPS estimate also fell from €3.62 per share to €3.20 per share. Net income forecast to shrink 5.4% next year vs 5.4% decline forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €81.24. Share price was steady at €66.60 over the past week. Reported Earnings • Sep 26
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €200.8m (up 144% from 2Q 2024). Net income: €2.73m (up €8.37m from 2Q 2024). Profit margin: 1.4% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Spain are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 01
Grenergy Renovables, S.A. to Report First Half, 2025 Results on Sep 25, 2025 Grenergy Renovables, S.A. announced that they will report first half, 2025 results on Sep 25, 2025 Price Target Changed • Jul 02
Price target increased by 9.4% to €72.58 Up from €66.35, the current price target is an average from 11 analysts. New target price is 15% above last closing price of €63.00. Stock is up 85% over the past year. The company is forecast to post earnings per share of €4.13 for next year compared to €2.11 last year. Aankondiging • Jun 30
Grenergy Renovables, S.A. announced that it expects to receive funding from Daruan Group Holding, S.L. Grenergy Renovables, S.A announced a private placement of 1,330,000 shares. The transaction includes participation from Daruan Group Holding, All in all, Daruan Group Holding intends to maintain a majority stake of more than 50%. Major Estimate Revision • Jun 12
Consensus revenue estimates increase by 17%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €630.8m to €735.5m. EPS estimate fell from €3.97 to €3.89. Net income forecast to grow 30% next year vs 27% growth forecast for Renewable Energy industry in Spain. Consensus price target up from €56.14 to €67.77. Share price fell 4.7% to €69.00 over the past week. New Risk • May 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Spanish stocks, typically moving 5.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (5.9% average weekly change). High level of non-cash earnings (47% accrual ratio). Minor Risk High level of debt (157% net debt to equity). Price Target Changed • May 29
Price target increased by 8.8% to €56.14 Up from €51.59, the current price target is an average from 11 analysts. New target price is 17% below last closing price of €67.40. Stock is up 126% over the past year. The company is forecast to post earnings per share of €3.97 for next year compared to €2.11 last year. Reported Earnings • May 23
First quarter 2025 earnings released First quarter 2025 results: EPS: €1.13. Revenue: €237.3m (up 116% from 1Q 2024). Net income: €32.4m (up 423% from 1Q 2024). Profit margin: 14% (up from 5.6% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Spain are expected to grow by 1.1%. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Apr 25
Consensus revenue estimates increase by 12%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €561.5m to €630.9m. EPS estimate fell from €3.82 to €3.77. Net income forecast to grow 94% next year vs 69% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €50.55. Share price rose 6.1% to €48.10 over the past week. Aankondiging • Apr 25
Grenergy Renovables, S.A. to Report Q1, 2025 Results on May 22, 2025 Grenergy Renovables, S.A. announced that they will report Q1, 2025 results Pre-Market on May 22, 2025 Major Estimate Revision • Apr 11
Consensus revenue estimates increase by 13%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €497.5m to €561.5m. EPS estimate fell from €4.36 to €3.82. Net income forecast to grow 96% next year vs 69% growth forecast for Renewable Energy industry in Spain. Consensus price target up from €48.45 to €50.45. Share price rose 4.0% to €41.40 over the past week. Aankondiging • Mar 28
Grenergy Renovables, S.A., Annual General Meeting, Apr 29, 2025 Grenergy Renovables, S.A., Annual General Meeting, Apr 29, 2025. Location: calle rafael boti 26, madrid Spain Reported Earnings • Mar 06
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: €2.11 (up from €1.72 in FY 2023). Revenue: €637.1m (up 59% from FY 2023). Net income: €59.8m (up 17% from FY 2023). Profit margin: 9.4% (down from 13% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 53%. Earnings per share (EPS) missed analyst estimates by 7.3%. Revenue is forecast to decline by 5.4% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Spain are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 04
Third quarter 2024 earnings released Third quarter 2024 results: EPS: €0.21. Revenue: €85.4m (down 32% from 3Q 2023). Net income: €5.90m (down 92% from 3Q 2023). Profit margin: 6.9% (down from 56% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Renewable Energy industry in Spain. Major Estimate Revision • Dec 03
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €467.1m to €418.8m. EPS estimate reaffirmed at €1.35. Net income forecast to grow 65% next year vs 63% growth forecast for Renewable Energy industry in Spain. Consensus price target of €46.53 unchanged from last update. Share price fell 2.2% to €28.30 over the past week. Major Estimate Revision • Nov 20
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €490.4m to €467.1m. EPS estimate also fell from €1.59 per share to €1.35 per share. Net income forecast to grow 66% next year vs 61% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €47.07. Share price fell 3.6% to €27.85 over the past week. Aankondiging • Nov 13
Grenergy Renovables, S.A. to Report Nine Months, 2024 Results on Dec 03, 2024 Grenergy Renovables, S.A. announced that they will report nine months, 2024 results on Dec 03, 2024 Major Estimate Revision • Oct 02
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €423.7m to €445.3m. EPS estimate fell from €1.92 to €1.71 per share. Net income forecast to grow 66% next year vs 53% growth forecast for Renewable Energy industry in Spain. Consensus price target up from €42.71 to €45.99. Share price fell 3.7% to €37.50 over the past week. Price Target Changed • Oct 01
Price target increased by 8.7% to €45.44 Up from €41.80, the current price target is an average from 11 analysts. New target price is 19% above last closing price of €38.10. Stock is up 101% over the past year. The company is forecast to post earnings per share of €1.72 for next year compared to €1.72 last year. Reported Earnings • Sep 27
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €82.2m (down 37% from 2Q 2023). Net loss: €5.80m (loss widened €4.91m from 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Renewable Energy industry in Spain. Aankondiging • Sep 25
Grenergy Renovables, S.A. (BME:GRE) acquired Solar Portfolio in Chile from Repsol, S.A. (BME:REP) and Ibereolica Renovables S.L. for approximately $130 million. Grenergy Renovables, S.A. (BME:GRE) acquired Solar Portfolio in Chile from Repsol, S.A. (BME:REP) and Ibereolica Renovables S.L. for approximately $130 million on September 23, 2024. A cash consideration of $128 million will be paid by Grenergy Renovables, S.A. As part of consideration, $128 million is paid towards assets of Solar Portfolio in Chile.
Grenergy Renovables, S.A. (BME:GRE) completed the acquisition of Solar Portfolio in Chile from Repsol, S.A. (BME:REP) and Ibereolica Renovables S.L. on September 23, 2024. Luis Alonso and Javier Hermosilla of Clifford Chance S.L.P. acted as legal advisor to Grenergy Renovables, S.A. (BME:GRE). Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €39.80, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Renewable Energy industry in Spain. Total returns to shareholders of 26% over the past three years. Price Target Changed • Sep 24
Price target increased by 8.9% to €44.71 Up from €41.07, the current price target is an average from 11 analysts. New target price is 19% above last closing price of €37.55. Stock is up 68% over the past year. The company is forecast to post earnings per share of €1.67 for next year compared to €1.72 last year. Major Estimate Revision • Sep 13
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €342.9m to €339.5m. EPS estimate also fell from €1.99 per share to €1.77 per share. Net income forecast to grow 32% next year vs 33% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €41.80. Share price was steady at €33.85 over the past week. Aankondiging • Aug 28
Grenergy Renovables, S.A. to Report First Half, 2024 Results on Sep 23, 2024 Grenergy Renovables, S.A. announced that they will report first half, 2024 results on Sep 23, 2024 Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €31.60, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Renewable Energy industry in Spain. Total returns to shareholders of 8.6% over the past three years. Board Change • May 31
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Ana María Plaza Arregui was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • May 17
Consensus revenue estimates increase by 21%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €232.0m to €279.7m. EPS estimate fell from €2.38 to €2.24. Net income forecast to grow 32% next year vs 41% growth forecast for Renewable Energy industry in Spain. Consensus price target of €39.80 unchanged from last update. Share price rose 2.8% to €29.15 over the past week. Aankondiging • Apr 07
Grenergy Renovables, S.A., Annual General Meeting, May 07, 2024 Grenergy Renovables, S.A., Annual General Meeting, May 07, 2024, at 12:00 Central European Standard Time. Agenda: To consider the annual accounts, the statement of non-financial information, the allocation of profits and losses, corporate governance and the re-election of the statutory auditor; to consider the reduction of the share capital; to consider the ratification, appointment and re-election of Directors; to consider PoiItemsnts relating to Directors' remuneration; to consider the authorisations of the Management Board. Aankondiging • Mar 26
Engie Energía Perú S.A. (BVL:ENGIEC1) completed the acquisition of 77MW of wind assets in Peru from Grenergy Renovables, S.A. Engie Energía Perú S.A. (BVL:ENGIEC1) agreed to acquire 77MW of wind assets in Peru from Grenergy Renovables, S.A. (BME:GRE) for $60 million on January 30, 2024. The consideration could be increased by $3 million. The transaction has been approved by the National Institute for the Defense of Competition and the Protection of Intellectual Property (INDECOPI). Engie Energía Perú S.A. (BVL:ENGIEC1) completed the acquisition of 77MW of wind assets in Peru from Grenergy Renovables, S.A. (BME:GRE) on March 24, 2024. Major Estimate Revision • Mar 06
Consensus EPS estimates increase by 14%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €423.7m to €415.4m. EPS estimate rose from €1.86 to €2.13. Net income forecast to grow 26% next year vs 19% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €40.69. Share price fell 4.6% to €24.50 over the past week. Reported Earnings • Mar 01
Full year 2023 earnings released Full year 2023 results: Revenue: €400.2m (up 37% from FY 2022). Net income: €51.1m (up 396% from FY 2022). Profit margin: 13% (up from 3.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Renewable Energy industry in Spain. Aankondiging • Feb 08
Grenergy Renovables, S.A. to Report Fiscal Year 2023 Results on Feb 28, 2024 Grenergy Renovables, S.A. announced that they will report fiscal year 2023 results Pre-Market on Feb 28, 2024 Aankondiging • Jan 31
Engie Energía Perú S.A. (BVL:ENGIEC1) agreed to acquire 77MW of wind assets in Peru from Grenergy Renovables, S.A. (BME:GRE) for $60 million. Engie Energía Perú S.A. (BVL:ENGIEC1) agreed to acquire 77MW of wind assets in Peru from Grenergy Renovables, S.A. (BME:GRE) for $60 million on January 30, 2024. The consideration could be increased by $3 million. Major Estimate Revision • Oct 04
Consensus revenue estimates increase by 11%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €259.0m to €288.3m. EPS estimate fell from €2.40 to €2.16. Net income forecast to grow 893% next year vs 55% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €38.07. Share price fell 7.1% to €18.96 over the past week. Reported Earnings • Sep 28
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €129.8m (up 115% from 2Q 2022). Net loss: €888.0k (down 119% from profit in 2Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €20.60, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Renewable Energy industry in Spain. Total returns to shareholders of 10% over the past three years. Aankondiging • Sep 26
Grenergy Renovables, S.A. to Report First Half, 2023 Results on Sep 27, 2023 Grenergy Renovables, S.A. announced that they will report first half, 2023 results on Sep 27, 2023 Major Estimate Revision • Jul 26
Consensus EPS estimates increase by 148% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €255.6m to €259.5m. EPS estimate increased from €0.906 to €2.25 per share. Net income forecast to grow 467% next year vs 31% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €38.08. Share price rose 4.5% to €28.14 over the past week. Board Change • Jun 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director María del Hortigüela Esturillo was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Jun 18
Consensus EPS estimates increase by 58% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €263.4m to €274.7m. EPS estimate increased from €0.948 to €1.50 per share. Net income forecast to grow 318% next year vs 39% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €39.14. Share price rose 17% to €29.10 over the past week. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €29.10, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Renewable Energy industry in Spain. Total returns to shareholders of 106% over the past three years. Aankondiging • Jun 16
An unknown buyer agreed to acquire 150MW Belinchón solar PV plant in Cuenca from Grenergy Renovables, S.A. (BME:GRE) for €83 million. An unknown buyer agreed to acquire 150MW Belinchón solar PV plant in Cuenca from Grenergy Renovables, S.A. (BME:GRE) for €83 million on June 15, 2023. Grenergy plans use the proceeds obtained to continue promoting its strategic growth plan in the three regions in which it is present -Europe, the US and Latin America that includes energy storage. The sale of 100% of its Belinchón solar PV project is the first milestone of the Valkyria Project, which includes the sale of up to 1.1GW of solar assets in Spain. The deal is expected to be completed before the year-end. The transaction is subject to the Spanish market regulator and subject to the fulfilment of certain conditions. Major Estimate Revision • Jun 01
Consensus EPS estimates increase by 36% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €232.8m to €236.7m. EPS estimate increased from €0.93 to €1.27 per share. Net income forecast to grow 274% next year vs 55% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €40.03. Share price fell 5.6% to €24.36 over the past week. Major Estimate Revision • Mar 28
Consensus revenue estimates increase by 16%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €206.8m to €240.8m. EPS estimate fell from €1.11 to €0.97. Net income forecast to grow 180% next year vs 67% growth forecast for Renewable Energy industry in Spain. Consensus price target broadly unchanged at €39.44. Share price fell 3.7% to €26.00 over the past week. Reported Earnings • Feb 28
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: €0.34 (down from €0.59 in FY 2021). Revenue: €293.0m (up 33% from FY 2021). Net income: €10.3m (down 37% from FY 2021). Profit margin: 3.5% (down from 7.4% in FY 2021). Revenue exceeded analyst estimates by 57%. Earnings per share (EPS) missed analyst estimates by 53%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Feb 16
Grenergy Renovables, S.A. acquired remaining 60% stake in Sofos Harbert Renewable Energy, LLC. Grenergy Renovables, S.A. acquired remaining 60% stake in Sofos Harbert Renewable Energy, LLC on February 14, 2023. Michael Bonsignore and Paul Seraganian of Clifford Chance S.L.P. acted as legal advisor to Grenergy Renovables, S.A. (BME:GRE).
Grenergy Renovables, S.A. completed the acquisition of remaining 60% stake in Sofos Harbert Renewable Energy, LLC on February 14, 2023.