Greenalia, the Spanish company that produces renewable energy, has closed the year 2018, increasing its gross operating profit (EBITDA) by 22% to reach 2.31 million euros with a consolidated turnover of 35.4 million euros.


  • The stock performs up to 196.75% in 2018, ranking as one of the three best values ​​of the Mab and jump into the selective index IbexMaB15


  • The biomass power plant financial close and the startup of the construction, the major milestones the year


  • The company continues to fulfill its strategic plan, which estimates an EBITDA of 64 million euros in 2021 and more than 100 million euros in 2023


This results consolidate the viability of the company’s projects, which is reaching the proposed objectives in its Strategic Plan 2019-2023. The degree of achievement over budget (considering billing, gross margin, EBITDA and net profit) is above 90%. The financial result also has a positive impact, having reached only 80% of the budgeted expenditure.

The year 2018 has been highlighted by three key milestones: The presentation of the new Strategic Plan for the period 2019-2023; the start up of the construction works for the 50 MW Biomass power generation plant in Curtis-Teixeiro (A Coruña), and the financial closing of that project.

The biomass plant financial close has set Greenalia as the first company in Spain to close a biomass project finance since its origin, becoming also the first SME in Europe to issue a green bond.


The company expects to make the big jump in 2020, when the Curtis-Teixeiro biomass plant and the wind projects -that are currently being developed in Galicia- will come into operation.

In this regard, in December 2018, a senior loan tranche was underwritten with Santander Bank for a maximum amount of 156 million euros to finance the Eolo Project, which includes 8 wind farms in Galicia that will generate up to 185 MW.

On the other hand, this renewable energy company has acquired the minority staked of the biomass projects, so that Greenalia has reached 100% ownership in all of them.

In addition, the company has carried out the issuance of a note program in the MTF of Luxembourg which have been issued, so far, two tranches: the first issuance of 3.2 million euros and the second one, in January 2019, of 6 million euros. In addition, there was an initial issuance -before the note program- of 5.8 million euros, not included in this program. Thus, Greenalia becomes a reference as an SME on the issuance of sustainable corporate bonds. All this three bonds has been rated as Green Bonds by S&P and Vigeo Eiris.


Great behavior in the MaB: Looking at the Continuous -main- Market

Greenalia approved to make the leap to the Continuous Market at its General Meeting held in November 2018. This decision is a consequence of the results obtained in its performance in the MaB, where it has remained among the three best values of 2018. In March 2018, only three months after its IPO, the stock became part of the IBEX MaB 15 selective index.

The company’s quotation closed 2018 at 7.30 euros per share, with a market cap above 155 million euros;;which represents a revaluation of 259.61% from its IPO, on December 1, 2017 , and 196.75% on the 2018 fiscal year.

2019-2023 view: A sustainable project

According to the company’s Strategic Plan, Greenalia has investment projects for the next two years exceeding 595 million euros and above 1,000 million euros until 2023. These projects will allow the company to reach an EBITDA of 64 million euros in 2021 and more than 100 million euros in 2023. The Plan also includes the start-up of 1GW of installed power in the next 5 years.

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