The first half of this year has been the most successful period in the history of the GEN-I Group in terms of operations. Targeted and development-oriented investments and digitalization have made it possible for us to exploit the majority of opportunities on the energy markets and to achieve accelerated growth in all business areas, which is important for the Group’s sustainable business model.
The rapid development of the digitalization of support activities and processes has been facilitated by investments in the infrastructure for work with data that make it possible to adopt rapid, analytically supported decisions using the most advanced tools. Contributing most to the extraordinary results achieved during the first six months of the year was the area of global trading.
We generated earnings before interest and taxes (EBIT) of €37.8 million during the aforementioned period, which was 260% higher than planned. In the context of revenues in the amount of €1.3 billion, the GEN-I Group generated a net profit of €30.6 million during the first half of this year, which was 300% higher than planned. The profit generated in that period represented close to 200% of the total planned profit until the end of 2021.
Given the exceptional performance during the first six months of 2021 and the forecast of positive results until the end of the year, GEN-I’s Management Board has revised the original business plan for 2021 upwards from already historically high planned levels. We are thus forecasting earnings before interest and taxes (EBIT) in the amount of €50.7 million and net profit of €40.3 million, meaning we will more than double the planned net profit. The results achieved during the first half of 2021 indicate the correctness of activities in the period prior to the presented strategic development plan and confirm the boldness of the Group’s development.
The digitalization of processes and operations facilitated the further expansion of operations to the global financial markets during the previous year, which in turn allowed us to continue expanding trading activities. Through such an approach, the GEN-I Group traded more than 100 TWh of energy on the international markets during the first half of the year and achieved a new milestone in its operations. Despite the exceptional growth in energy prices on the international markets, we managed to maintain unchanged electricity prices for end customers.
We are also having a successful year in the sale of green services and technologies. We have sold close to 1,000 solar power plants for the self-sufficient supply of electricity, an increase of 70% relative to the same period last year. The total capacity of those power plants is 10.5 MW, which is more than the installed capacity during all of last year. Growth in sales of solar power plants to business customers is also exceptional relative to last year. We sold 27 power plants during the first half of 2021 with a total capacity of 7 MW, an increase of 300% in installed capacity relative to last year.
“Record turnover and an optimistic view to the future are the results of previous investments in digitalization, analytics and particularly our employees and their expertise. This year provides the best confirmation of the correctness of the Management Board’s focus on the continued development of the Company and its employees, and the prudence of investments in a green and digital future. To that end, our primary focus remains the satisfaction and trust of our customers, the number of which rises on a daily basis,” stated the President of the Management Board, Dr. Robert Golob.
All processes, activities and the further strategic development steps of the GEN-I Group continue uninterrupted, even during the COVID-19 crisis, as the Group has responded in a timely and adapted in organizational, spatial, procedural and personnel terms. The GEN-I Group has recruited new employees throughout the COVID-19 crisis and expects growth in the number of employees again this year.
The Group’s business model is sustainable and based on sound financial foundations. We therefore see a bright and green future for the GEN-I Group.
The future is green. Let’s create it together!