Successful bond full placement of EUR 10 million

Martin Tauschke, CEO of SUNfarming GmbH: “We are proud that in 2020 we were once again able to demonstrate our earning power despite the effects of the pandemic. We are just as happy about the positive start into the 2021 financial year and the successful full placement of our listed debut bond. We will do everything in our power to live up to the trust of our investors and to establish ourselves as a reliable issuer on the capital market over the long term."

SUNfarming GmbH recorded a successful 2020 financial year based on preliminary figures. SUNfarming was able to increase earnings before interest, taxes, depreciation and amortization (EBITDA) by 29.4% from EUR 1.7 million to EUR 2.2 million. This corresponds to an improved EBITDA margin of 7.9% after 4.7% in the previous year. The annual surplus increased by 87.5% from EUR 0.8 million to EUR 1.5 million. The positive development is also reflected in the equity ratio, which rose from 24.7% to 34.9%.

For the 2021 financial year, SUNfarming expects to improve both sales and earnings. In the 1st quarter, projects with an installed capacity of approx. 5 MWp and in Poland of approx. 3.9 MWp were successfully implemented. In Germany there were seven roof-top projects with a total output of 3.5 MWp and two ground-mounted systems with an output of 750 kWp each.

For the rest of the year there are currently around 27.3 MWp of new projects being planned and implemented. More than 60% of these consist of free-field PV projects that are subject to tendering with a capacity of over 750 kWp, around 20% consist of classic EEG-compensated free-field systems with an output of up to 750 kWp and around 20% roof systems with a total output of over 100 kWp. In addition to the new projects, around 29 MWp of project expansions are being implemented, of which the first two projects will be completed in the second quarter. In addition, several major projects of 20 MWp and more are in development for 2022.