Spain's Audax reports Q1 2024 success, profit up 607%
- Admin
- May 15, 2024
- 1 min read
Spanish renewable power and gas supplier Audax Renovables SA (BME:ADX) reported a significant increase in net profit at the end of March, driven by efforts to reduce debt and positive effects of exchange rates fluctuations. Operating revenues declined due to lower power and gas prices, offset by an increase in energy supplies. EBITDA increased, and the company highlighted progress in debt reduction and operational growth in the first quarter.
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