ONDE: record after record

After three quarters of 2021 it was already know that it was going to be a record year for ONDE. Last three months, which were excellent for the company, just sealed it.

In 2021, the leader of RES constructions in Poland had over PLN 1.2 billion of income, i.e., twice as much as in the previous year. Similar dynamics were noted for the normalised profit, which increased from PLN 40.5 million to PLN 95,2 million, and for the normalised net profit, which soared from PLN 32.8 million to PLN 78.2 million.

The majority (77%) of last year’s income was generated by RES constructions, and this was decisive for high profitability of the company. Here, it is worth noting that sales margins in this sector amounted to 11.6 percent, i.e., 2 percentage points more than in 2020.

‘A sharp increase in our business and satisfying margins do not mean that now we will slacken in our efforts’ ensures Paweł Średniawa, ONDE President. ‘According to plans presented during IPO, we strive to establish the developer “leg” within a short time. Currently, we have a portfolio of projects of the potential exceeding 830 MW, of which 300 we managed to obtain after our listing, using resources obtained from investors for this purpose’ says Paweł Średniawa.

In November of last year, the company also started construction of the first own photovoltaic farm “Cyranka”. The completed power plant will have a capacity of 18 MW. It is expected that the project will be finished in the fourth quarter of 2022.

At the end of 2021, the company’s backlog in execution amounted to ca. PLN 1.7 billion, of which PLN 1.3 billion concerned RES constructions. This value includes the construction of the RES system for own needs, of a market value of ca. PLN 870 million.

‘We have a reliable portfolio of orders, which forms a promising foundation for income for the current year 2022.’  explains Paweł Średniawa. ‘We hope that the increasing RES share in the income structure and an option for commercialisation of own farms will also allow us to achieve a good profitability on our operations. Taking into account searing energy prices, we are considering an option of temporarily keeping some of the farms constructed by us, to make use of this situation and gain income on sales of electricity ‘ adds Paweł Średniawa.