Solarprofit presents an ERE for 30% of its workforce and collapses on the stock market

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solar profitthe Catalan leader in the installation of photovoltaic panels, collapsed on the stock market this Monday after announcing an ERE that will affect 30% of the workforce, impacting around 300 employees, according to the workforce figures submitted by the group after the close of its last financial year.

The company has issued what is known as a profit warning, that is, a notice that their economic forecasts for the year will not be met, something they attribute to the drop in demand for the installation of solar panels in the residential area due to the containment of electricity prices, as well as the growing competition and the effect of inflation on the pocket.

The context has surprised the company, listed on BME Growthwith a structure oriented towards a much higher level of activity, since the sector was in full eye, which has led him to operate at a loss with a negative gross operating profit (Ebitda) of 10.7 million euros in the first half of the year.

So, solar profit will seek the “necessary alternatives” to strengthen its capital structure until the situation is rebalanced, something that they hope to achieve with the aforementioned ERE among other measures. The company expects to execute the redundancy of the workforce next October and have a positive return from November.

In addition, it has lowered its revenue forecast for 2023 from 110 million euros to 78 million euros, with gross losses of 15 million euros. In addition to the moment of the market, the entity cites the delay in obtaining permits in the industrial segment as another factor that has negatively influenced its commercial performance.

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