The pandemic did not affect the results


MDI ENERGIA, listed on the main market of the Warsaw Stock Exchange, has had a successful period. This year, the company is focusing on the implementation of the strategy. From the beginning of January, the auctions went up by 26%, to 4.12 PLN.

MDI ENERGIA operates in all branches of the renewable energy industry and specializes in the implementation of wind farm projects, biogas plants and photovoltaic installations.

The company admits that the pandemic had no significant negative impact on the group's operations. In 2020, consolidated revenues amounted to PLN 259 million compared to PLN 179.5 million a year earlier.

In 2020, MDI ENERGIA increased turnover by 44 percent. compared to 2019. This is the result of the implementation of a new strategy focused on renewable energy. In 2020, we started the construction of eight biogas plants, each 1 MW. Two of them have been completed and put into use. The rest are under construction at various stages of advancement. In 2020, we completed 73 photovoltaic projects with a total capacity of 69 MW for a foreign investor. We are currently implementing 31 photovoltaic farms - says Grzegorz Sochacki, president of MDI ENERGIA.

 The company also recorded a huge improvement on the level of the net result. The group's profit for 2020 was 4.8 million PLN, compared to 127 thousand PLN a year before.

In 2019, we had to write down the unused tax shield. In 2020, we returned to generating a net profit corresponding to the contracts performed and revenues - says Sochacki. He adds that despite the pandemic, the management board remains optimistic. The company consistently implements the strategy which assumes, among others achieving a leading position among companies in the renewable energy sector. In addition, one of the assumptions of the strategy is a threefold increase in revenues by 2025.

This year, the company focuses, among others, on the construction of biogas power plants and photovoltaic farms. In addition, the company is preparing for new services, e. g. energy storage. Let us recall that in January MDI ENERGIA concluded a letter of intent with Griffin Energy regarding the development of a comprehensive offer for photovoltaics with its own energy storage.

The capitalization of MDI ENERGIA amounts to approximately 190 million PLN.


Author: Dominik Osowski