hep global GmbH, the Baden-Württemberg-based specialist in solar parks and solar investments, announces that it is on track to meet its forecast for the 2023 fiscal year. The company expects consolidated revenue of approximately €50 million to €60 million and earnings before interest and taxes (EBIT) of €0 to €5 million. The audited 2023 consolidated financial statements are scheduled to be published by the end of June 2024.
Following a weaker first half of the year, hep achieved significant increases in revenue and earnings in the second half, as expected. Project sales in the U.S., Canada, and Japan contributed significantly to this.
For 2024, hep expects further substantial project revenues. It is already foreseeable that the first half of 2024 will perform better than in the previous year. In the U.S., numerous projects scheduled for completion over the course of the year are expected to be sold, as well as several large-scale projects that have been redesigned due to significantly changed market conditions in the U.S. solar market. In addition, hep has projects in Japan that are also expected to contribute to sales revenue in 2024. In Germany, revenue is also expected from the hep yolar product (solar systems on commercial rooftops) as well as from the first ground-mounted systems.
Furthermore, in 2024, the strategy of focusing primarily on greenfield development in core markets will begin to contribute to revenue and, particularly starting in 2025, will play a significant role in hep’s long-term success. Another key pillar of the company’s long-term profitable growth remains its proprietary pipeline of approximately 5.9 GWp.