Holaluz renews a €7 million commercial paper until July 2026

19 July 2024. Holaluz, the energy transition technology company aimed at decarbonising the economy, has renewed a €7 million commercial paper that was due on 19 July for an additional two years. This commercial paper will be amortised through 9 payments of increasing amounts. This decision is part of the company's debt restructuring process, for which it has engaged PwC. By doing so, Holaluz strengthens its financial structure to execute its business plan.

As of 30 April, Holaluz's net debt stood at €57.2 million, down from €65.4 million at the end of 2023. This debt comprises the €7 million commercial paper, bank loans, and other working capital financing instruments (credit facilities, confirming, etc.).

In addition to the €7 million commercial paper subscribed at the beginning of the year and just renewed, the company has already repaid commercial paper worth €19.8 million this year.

Holaluz has already secured €8.1 million in additional financing between May and June 2024, through a €4 million financing operation and the sale of 800 customer loans from its solar panel installation business for €4.1 million.

The accounts approved at the Annual General Meeting on 28 June show promising financial data, resulting from Holaluz's ongoing operational efficiency process, with cost reductions of €30 million compared to early 2023. The company has achieved a consolidated normalised EBITDA in the last 12 months up to 30 April 2024 of €22.9 million, compared to €4.3 million in 2023, and a consolidated accounting EBITDA approximately at break-even, compared to the negative result of €22.8 million in the previous year, thus improving the accounting operating result by €22 million. Holaluz continues to operate in line with its normalised EBITDA forecast for 2024 of €19 to €24 million.