Solar Alliance Revenue Increases 55% in 2023 to $7.5 Million
Solar Alliance Revenue Increases 55% in 2023 to $7.5 Million
Company continues to execute on its strategy in the high-growth U.S. solar industry
公司繼續執行其在美國高增長太陽能行業的戰略
TORONTO and KNOXVILLE, Tenn., April 30, 2024 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. ('Solar Alliance' or the 'Company') (TSX-V: SOLR, OTC: SAENF), a leading solar energy solutions provider focused on the commercial and utility solar sectors, announces it has filed its audited financial results for the quarter and year ended December 31, 2023. The Company's Financial Statements and related Management's Discussion and Analysis are available under the Company's profile at .
多倫多和田納西州諾克斯維爾,2024年4月30日(GLOBE NEWSWIRE)——專注於商業和公用事業太陽能領域的領先太陽能解決方案提供商太陽能聯盟能源公司(“太陽能聯盟” 或 “公司”)(多倫多證券交易所股票代碼:SOLR,場外交易代碼:SAENF)宣佈已提交截至2023年12月31日的季度和年度的經審計的財務業績。公司的財務報表和相關管理層的討論和分析可在公司簡介下找到,網址爲。
"Solar Alliance continued to successfully execute on our strategy as our team delivered a 55% increase in revenue year-over-year," said CEO Myke Clark. "Solar Alliance continues to see strong demand for commercial solar projects, and we remain focused on larger, higher margin commercial solar projects to support our growth. In addition to executing on larger projects, we are now experiencing strong demand for solar projects for small and medium-sized businesses in rural communities. We reduced expenses and overhead during 2023 and we believe we will experience ongoing bottom-line improvements as those cost reductions have an impact on the full year for 2024. We continue to build a stable, growing company that is well positioned to take advantage of the current global shift to renewable energy," concluded Clark.
首席執行官邁克·克拉克說:“太陽能聯盟繼續成功執行我們的戰略,我們的團隊實現了收入同比增長55%。”“太陽能聯盟繼續看到對商業太陽能項目的強勁需求,我們將繼續專注於規模更大、利潤更高的商用太陽能項目,以支持我們的增長。除了執行大型項目外,我們現在還面臨着農村社區中小型企業對太陽能項目的強勁需求。我們在2023年減少了開支和管理費用,我們相信我們的利潤將持續改善,因爲這些成本降低對2024年的全年產生了影響。我們將繼續建立一家穩定、成長的公司,該公司完全有能力利用當前全球向可再生能源的轉變,” 克拉克總結道。
Key financial highlights for 2023
2023 年主要財務亮點
- Revenue grew 55% year-over-year to $7,473,937 (2022 - $4,825,984) for the year ended December 31, 2023, as the company continued to expand its commercial and utility solar business.
- Cost of sales of $6,399,169 (2022 - $4,371,698) resulting in a gross profit of $1,074,768 (2022 - $454,286).
- Net cash provided by operating activities $97,425 (2022 – Net cashed used by operating activities - $1,484,220)
- Cash balance of $702,988 (2022 - $650,061) as of December 31, 2023.
- A net loss of $1,811,861 (2022 - $2,746,914).
- The Company recorded a one-time loss of $521,648 related to the sale of two solar projects in New York.
- Total expenses of $3,037,881 (2022 - $4,283,008), a 29% reduction.
- Salaries and benefits of $1,343,363 (2022 - $2,279,413), a 41% reduction.
- Short-term loans and notes payable of $137,500 in 2023 (2022 - $1,556,984).
- 由於該公司繼續擴大其商業和公用事業太陽能業務,截至2023年12月31日的年度收入同比增長55%,達到7,473,937美元(2022年-4,825,984美元)。
- 銷售成本爲6,399,169美元(2022年-4,371,698美元),毛利爲1,074,768美元(2022年-454,286美元)。
- 經營活動提供的淨現金爲97,425美元(2022年——經營活動使用的淨現金——1,484,220美元)
- 截至2023年12月31日,現金餘額爲702,988美元(2022年-650,061美元)。
- 淨虧損1,811,861美元(2022年-2,746,914美元)。
- 該公司記錄了與出售紐約兩個太陽能項目有關的一次性虧損521,648美元。
- 總支出爲3,037,881美元(2022年-4,283,008美元),減少了29%。
- 工資和福利爲1,343,363美元(2022年-2,279,413美元),下降了41%。
- 2023年短期貸款和應付票據爲137,500美元(2022年-1,556,984美元)。
Key business highlights and outlook
主要業務亮點和展望
Large Project focus momentum. The Company continues to target larger customers for third-party solar system sales and installations, specifically for commercial and industrial customers. Solar Alliance's strategy is to design, engineer and install commercial solar systems ranging in size up to several megawatts.
大型項目聚焦勢頭。該公司繼續以較大的客戶爲目標客戶進行第三方太陽能系統的銷售和安裝,特別是商業和工業客戶。太陽能聯盟的戰略是設計、設計和安裝大小不超過幾兆瓦的商用太陽能系統。
Small and medium-sized project growth accelerates. A key component for small businesses wanting to reduce utility costs are Rural Energy for America Program ("REAP") grants and loans from the United States Department of Agriculture ("USDA"). Supported by funding from the U.S. Inflation Reduction Act, REAP promotes lower energy costs and resilience while opening new income opportunities for the rural small businesses and agri-businesses the USDA serves. Solar Alliance has dedicated sales resources to supporting the increased demand created by the REAP program and has signed several small and medium-sized projects as a result. These projects are in addition to the sales funnel of larger projects the Company continues to pursue.
中小型項目增長加速。想要降低公用事業成本的小企業的關鍵組成部分是美國農業部(“USDA”)的美國農村能源計劃(“REAP”)撥款和貸款。在美國《減少通貨膨脹法》的資助下,REAP促進了較低的能源成本和彈性,同時爲美國農業部服務的農村小型企業和農業綜合企業開闢了新的收入機會。太陽能聯盟擁有專門的銷售資源來支持REAP計劃創造的不斷增長的需求,並因此簽署了多箇中小型項目。這些項目是對公司繼續開展的大型項目的銷售渠道的補充。
Affiliate Program launched. In support of the Company's organic growth strategy in the Southeast U.S., the Company announced the launch of the Solar Alliance Affiliate Program on September 12, 2023 (the "Affiliate Program"). The Affiliate Program provides independent sales organizations with access to branded marketing materials, design, engineering and installation management services. In return, the affiliates bring commercial solar opportunities to Solar Alliance. The Affiliate Program is initially focused on the Southeast U.S. market and has the potential to be expanded to additional regions in the U.S.
聯盟計劃已啓動。爲了支持公司在美國東南部的有機增長戰略,該公司於2023年9月12日宣佈啓動太陽能聯盟加盟計劃(“加盟計劃”)。加盟計劃爲獨立銷售組織提供品牌營銷材料、設計、工程和安裝管理服務的機會。作爲回報,附屬公司爲太陽能聯盟帶來了商業太陽能機會。加盟計劃最初側重於美國東南部市場,並有可能擴展到美國其他地區。
BC Call for Power. In British Columbia, Canada, the utility BC Hydro formally launched the 2024 Call for Power on April 3, 2024. The Company has maintained the development rights, wind resource data and environmental data for a potential 77-megawatt legacy wind project in the province and will be reviewing the RFP and any opportunities to participate.
不列顛哥倫比亞省權力呼籲。在加拿大不列顛哥倫比亞省,公用事業公司BC Hydro於2024年4月3日正式啓動了2024年電力征集。該公司保留了該省潛在的77兆瓦傳統風能項目的開發權、風力資源數據和環境數據,並將審查徵求建議書和任何參與機會。
Myke Clark, CEO
邁克·克拉克,首席執行官
For more information: |
Investor Relations Myke Clark, CEO 604-359-5178 mclark@solaralliance.com |
欲了解更多信息: |
投資者關係 邁克·克拉克,首席執行官 604-359-5178 mclark@solaralliance.com |
About Solar Alliance Energy Inc. ()
關於太陽能聯盟能源公司 ()
Solar Alliance is an energy solutions provider focused on the commercial, utility and community solar sectors. Our experienced team of solar professionals reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions. Solar Alliance's strategy is to build, own and operate our own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility customers. The technical and operational synergies from this combined business model supports sustained growth across the solar project value chain from design, engineering, installation, ownership and operations/maintenance.
Solar Alliance是一家能源解決方案提供商,專注於商業、公用事業和社區太陽能行業。我們經驗豐富的太陽能專業人員團隊減少或消除了客戶對不斷上漲的能源成本的脆弱性,提供了環保的發電來源,並提供負擔得起的統包式清潔能源解決方案。太陽能聯盟的戰略是建造、擁有和運營我們自己的太陽能資產,同時通過向商業和公用事業客戶出售和安裝太陽能項目來創造穩定的收入。這種綜合商業模式帶來的技術和運營協同效應支持整個太陽能項目價值鏈的持續增長,包括設計、工程、安裝、所有權和運營/維護。
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words "would", "will", "expected" and "estimated" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information in this press release include, but is not limited to the ability to scale, increasing project margins, targeting profitability and the Company offering a unique investment opportunity in the renewables sector space. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory, legislative and political competitive developments, technological or operational difficulties, the ability to maintain revenue growth, the ability to execute on the Company's strategies, the ability to complete the Company's current and backlog of solar projects, the ability to grow the Company's market share, the high growth US solar industry, the ability to convert the backlog of projects into revenue, the expected timing of the construction and completion of the Company's solar projects, the targeting of larger customers, potential corporate growth opportunities and the ability to execute on the key objectives in 2024. Consequently, actual results may vary materially from those described in the forward-looking statements.
本新聞稿中的陳述,除純粹的歷史信息外,包括與公司未來計劃和目標或預期業績有關的陳述,均構成前瞻性陳述。“將”、“將”、“預期” 和 “估計” 等詞語或其他類似的詞語和短語旨在識別前瞻性信息。本新聞稿中的前瞻性信息包括但不限於擴大規模的能力、提高項目利潤率、實現盈利能力以及公司在可再生能源領域提供的獨特投資機會。前瞻性信息受已知和未知風險、不確定性和其他因素的影響,這些因素可能導致公司的實際業績、活動水平、業績或成就與此類前瞻性信息所表達或暗示的業績存在重大差異。這些因素包括但不限於:與籌集足夠資金的能力相關的不確定性、經濟狀況或金融市場的變化、訴訟、立法或其他司法、監管、立法和政治競爭發展、技術或運營困難、維持收入增長的能力、執行公司戰略的能力、完成公司當前和積壓太陽能項目的能力、增加公司市場份額的能力、高增長的美國太陽能行業,這將積壓的項目轉化爲收入的能力、公司太陽能項目的預計建設和完成時間、瞄準更大的客戶、潛在的企業增長機會以及在2024年實現關鍵目標的能力。因此,實際結果可能與前瞻性陳述中描述的結果存在重大差異。
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
“多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。”