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European Energy is adjusting its expectations for 2020. Despite the Corona-crisis, European Energy has seen solid growth across various business portfolios.
Consequently, European Energy now expects an EBITDA of around € 60 million in 2020, an increase from the previous guidance interval of between € 52-58 million. Profit before tax in 2020 is now expected to reach € 37 million which is in line with the expected € 35-39 million guidance. Despite the global pandemic’s impact on most business sectors around the world, the growth potential of renewable energy has been strengthened throughout 2020, and European Energy expects to initiate construction of solar and wind energy capacity around the world of more than one GW in 2021 and connect 750 MW to the grid in 2021. For 2021, European Energy expects to reach an EBITDA level of € 80 million and a profit before tax of around € 50 million.
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