BELO HORIZONTE, Brazil, March 25, 2019
BELO HORIZONTE, Brazil, March 25, 2019 /PRNewswire/ -- Omega Geração (OMGE3) announced its 2018 and 4th quarter results last Thursday March 21st. The Company reported an increase in capacity2 of 4.5 times since IPO in July 2017 and 140% in 2018 alone to reach a total installed capacity of 1,145 MW, 668.7 MW above 2017. Acquisition of Pirapora Complex (320 MW), largest operating solar complex in South America, alongside 508 MW of new wind capacity confirms company's leading position in the consolidation of Brazilian renewable generation making it a promising name in Brazil's stock market.
Regarding the Brazilian Electricity Regulatory Agency renewables accounted for 95% of the capacity added to the country's power mix in 2018. "We believe at least two thirds of new Brazilian installed capacity will come from renewable sources in the next decade, a multibillion-dollar investment opportunity for companies vested with execution capacity as well as deep technical and sector knowledge like Omega", states Antonio Bastos Filho, CEO of Omega.
Omega reached a record production of 2.103,5 GWh in 2018, 58% above 2017. "Such positive performance confirms the consistency of our asset base as well as the high predictability of our gross profit generation, reinforcing our confidence in the long-term performance of the Company and its portfolio", completes Mr. Bastos.
In 2018, EBITDA reached R$ 411.6 million (81.9% EBITDA margin), 76% above 2017, exceeding market estimates¹ of R$ 374 million for 2018. In the 4th quarter, the Company reported a R$ 153.0 million EBITDA, 31% increase in comparison to 4Q2017. Energy Gross Profit was R$ 173.9 million in the 4th quarter of the year, reaching R$ 502.8 million in 2018, 66% above 2017. Omega also reported 155.7 ktons of CO2 avoided in 2018 by its 100% renewable portfolio.
The company will expand its international Investor Relations efforts in 2018 certain that the opportunities of Brazilian renewables are quite appealing for global investors seeking long term growth and vigorous economic performance. "We will increase efforts into creating awareness of the Company, its attributes, accomplishments and business plan to the global investor community during 2019. Growing confidence and our execution capability are paramount to consolidate Omega as the reference company for renewable energy generation in our geography", concludes Bastos.
About Omega Geração
Omega Geração, a leading Brazilian renewable energy company, is an investment platform focused exclusively on wind, hydro and solar operational projects. Listed in "Novo Mercado" (ticker: OMGE3), the highest level of corporate governance in the Brazilian stock exchange B3, the Company has a portfolio of 744.7 MW and is expected to reach 1,145 MW when all announced M&As are closed.
Targeting superior returns, Omega is driven by four pillars: (i) the consolidation of high quality renewables assets in Brazil on the back of M&A transactions and drop-ins from development partners; (ii) the operation of renewable assets with the highest efficiency, quality and sustainability standards; (iii) the continuous development of a top notch, problem solver organization, capable of creating tangible value for all its stakeholders; and (iv) the fostering of solid corporate values and governance practices.
¹ Source: information bank from Geração Aneel – 03/15/2019
2 402 MW still subject to closing conditions such as waiver from lenders
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