Enlight Renewable Energy Reports Fourth Quarter and Full Year 2024 Financial Results

Financial Performance - The company reported total revenues and income of $399 million for the full year 2024, representing a 53$261 million in 2023 [4][26] - Adjusted EBITDA for 2024 was $289 million, up 49$194 million in 2023 [4][26] - Net income for 2024 was $67 million, a decrease of 32$98 million in 2023 [4][26] - Cash flow from operating activities increased by 29% to $193 million in 2024, compared to$150 million in 2023 [4][26] Quarterly Results - In the fourth quarter of 2024, total revenues and income reached $104 million, a 35$77 million in the same quarter of 2023 [4][27] - Adjusted EBITDA for Q4 2024 was $65 million, up 31$50 million in Q4 2023 [4][31] - Net income for Q4 2024 was $8 million, down 48$16 million in Q4 2023 [4][29] Segment Performance - Revenue from the MENA region increased by 130% to $155.7 million in 2024, while Europe saw an 11$197.1 million, and the U.S. revenue surged by 375% to $36.6 million [26][55] - The company benefited from newly operational projects, contributing$18 million to revenues from the sale of electricity in Q4 2024 [28] Future Outlook - The company plans to construct 4.7 FGW of capacity with a total investment of $5.5 billion, aiming for an operating capacity of 8.6 FGW by the end of 2027 [7][8] - Projected revenues for 2025 are expected to range between$490 million and $510 million, a 25$360 million and $380 million, reflecting a 28% increase from 2024 [30] Portfolio Overview - The total portfolio consists of 20 GW of generation capacity and 35.8 GWh of storage, equating to 30.2 FGW [10] - The mature portfolio includes 6.1 GW of generation capacity and 8.6 GWh of storage [10] - The company has several mega-projects in the U.S. and Europe, expected to significantly contribute to future revenues [15][22]