Umbrella Solar: “We will continue to invest and grow through our technology”

Umbrella Solar, a company dedicated to the production of renewable energy and the installation of self-consumption, is set to generate group revenue of more than €43 million in 2022, a 36% increase, according to accounts presented to BME Growth Markets. up from last year’s 33 million.

The operating result of 877.00 euros, decreased compared to 2.3 million in 2021, and the gross result gave a loss of 371,000 euros, in contrast to the previous year’s profit of 1.7 million.

“It is great news that our gross margin has remained stable in 2022 despite a complex situation, especially with a large inflationary trend in raw materials, which has affected, among other things, the products used to build solar parks. We have been able to harness economies of scale which have allowed us to control margins so that they do not suffer excessive erosion as a result of this increase in raw material costs”. Enrique Selva Belvis, CEO of Umbrella Solar Investments.

The company has clarified that these losses are due to the poor results of its subsidiary in Chile and the financial cost of financing received for the development of projects in the group’s portfolio and that this is a temporary situation.

Similarly, Enrique Selva has talked about his new mobility business sector And how it fits into its business and development strategy, “The electromobility sector belongs to the infrastructure part and is closely linked to photovoltaic solar generation and decarbonisation, which is the ultimate objective of the company”.

“There is one in the solar canopy Development Strategy Based on the combination of the three business units” explains the company’s CEO and comments that, in addition, Umbrella is proud of the growth of the business during the year, “we have been able to create products that we have placed on the market , Add a lot of value. here we see the duality between selling products in the market And building future products that continue to add value, therefore, we will continue to invest and continue to grow as a company, gaining knowledge so that our own technology allows us to make our share of infrastructure more valuable, better managed and help enable it. To support possible market fluctuations, such as fluctuating electricity prices,

If you want to delve deeper into the Umbrella Solar business as well as the 2022 earnings statement and current year outlook, don’t miss the full interview with Enrique Selva Belvis, CEO of Umbrella Solar Investments.