Onde builds on renewable energy projects, boasts 1 billion pln portfolio

Onde is counting on maintaining the dynamics of revenue growth from recent years and wants to implement renewable energy projects with a capacity of approximately 200 MW per year, said President Paweł Średniawa.

Onde is a leading infrastructure contractor for the renewable energy (RES) sector, in particular wind farms and solar farms in Poland. It also operates in the road and engineering construction sector, implementing investments for road infrastructure in Poland. The company operates within the Erbud Group.


“Our portfolio of orders as at the end of March 2021 amounts to over PLN 1 billion, which gives grounds to believe that the growth dynamics [from the last three years] in 2021 will be maintained,” Sredniawa said.

The company took part in the latest auction for the sale of energy from renewable sources with two projects, however, it believes that this support system does not have to be the only solution for it.

“Due to the fact that the costs of building renewable energy installations have been dropping successively in recent years, these investments need less and less support in the form of auctions. Auctions help to obtain financing, but a real alternative are PPAs – we are also conducting such talks, ”pointed out Vice President Piotr Gutowski.

In the road part, the goal is to maintain a similar size of the order portfolio as at present.

“Our plans are to maintain the size of the order book we currently have. We operate on local markets – Toruń and Koszalin – and we want to survive in these markets, ”said vice president Marcin Szerszeń.

In 2020, Onde had PLN 586.3 million in revenues (+ 54% y / y), PLN 46.2 million in EBITDA (+ 116% y / y) and PLN 32.8 million in net profit (+ 140% y / y) . In Q1 2021, Onde generated PLN 229.6 million in revenues (+ 246% y / y) and PLN 18.9 million in EBIT (+ PLN 17.6 million y / y).

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