Monday, April 22, 2024
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EPCG Solar Construction outperforms projections amid winter challenges

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The company EPCG Solar Construction has managed to achieve results that significantly exceeded last year’s performance and even surpassed the expectations outlined in the production and financial plan for this year, despite unfavorable weather conditions in the winter months, according to its representatives.

“In the first two months of this year, we completed 499 installations, with a total installed capacity of 3.73 megawatts (MW) using only 39 installation teams. In the same period last year, with 60 installation teams, we completed 472 installations with an installed capacity of 3.71 MW,” the statement said.

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According to them, it can be easily concluded that EPCG Solar Construction achieved better results with a 35% reduced capacity compared to the same period last year.

The company’s revenues for the first two months of this year amounted to 933 thousand euros. In the same period last year, they were 508 thousand euros, while the planned amount was 762 thousand euros.

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“Therefore, we have a revenue growth of 23% compared to the plan and even 84% compared to last year,” the company specified.

The incurred costs for the first two months of this year amounted to 972 thousand euros, compared to 1.15 million euros in the same period last year and the planned amount of 1.04 million euros.

“So, we reduced costs by six percent compared to the planned amount and even 15 percent compared to the actual costs for the same period last year,” the company said.

As the company’s operations are weather-dependent, EPCG Solar Construction mentioned that they are unable to operate at full capacity during the winter months. Consequently, they planned a smaller number of solar power plant installations, resulting in lower revenues.

“However, starting from March, when weather conditions improve, in line with the production and financial plan and the positive trend from the first two months, we expect revenue growth. At this pace, it will contribute to achieving a positive financial result by the end of this year, as we announced earlier, provided that we have sufficient quantities of equipment and materials in stock necessary for solar power plant installations for end-users,” the statement concludes.

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