This situation has had an impact on Soltec Industrial's turnover and margins, with a corresponding effect on Soltec Power Holdings' figures. The company recorded revenues of 235 Mn euros, negative adjusted Ebitda of -9.4 Mn euros and negative net income of -4.9 Mn euros.
Operating capacity at record levels
In this context, it is important to highlight that there has been no significant project cancellation, only delays as a consequence of partial closures in the countries where Soltec Industrial is active. This is directly reflected in the company's operating indicators.
Soltec Industrial closed the year with a backlog of 1,891MW, valued at €190M (+33% compared to the end of 2019), and a pipeline of 24,340MW, valued at €2,665Mn (+152% compared to the previous year). Of the latter, €1,917Mn relates to projects with a probability level equal to or greater than 50%. This trend is accelerating in 2021, with backlog contracts incorporated in less than two months and MOUs signed for 3,056MW, which will represent €896M in additional revenues for the period 2021-2023.