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Erbud SAOnde expects contracting to strengthen; wants to sell own projects with 300 MW capacity by end-2025
Listed builder Onde, the unit of Erbud, expects an increase in the contracts secured in the coming months and wants to sell own projects with a total capacity of 300 MW by the end of the year, management representatives told a video conference. The group's goal is to maintain a gross sales margin of 7-10 percent.
"We are winning new contracts despite the so-called investment gap in onshore wind power in Poland. (...) We are working on several important tenders, so we hope that the value of the portfolio will grow. The development business is becoming increasingly important for us," said Onde's CEO Pawel Przybylski.
"(...) By the end of the year, we want to sell photovoltaic and wind projects with a total capacity of 300 MW. We maintain that by end-2025 we want to have around 2 GW in our own RES projects," he added.
Regarding the new projects, CEO Przybylski said that Onde is focusing on so-called greenfield wind projects, which the group is developing from the beginning.
"In the long term, these projects will be a source of good margins for the company," he assessed.
The group's goal is to maintain a gross sales margin of 7-10 percent. This margin stood at 7.8 percent in the first quarter of 2025.
The Onde group's backlog, resulting from orders from external parties, stood at PLN 529 million (EUR 124.4 mln) at the end of March, down 21.7 percent year on year.
"Our portfolio is at a slightly higher level than at the end of December. We are slowly adding to it, and we are counting on the next months to bring more contracts so that we meet our targets in terms of revenue scale in 2025 and build a base by 2026," said Onde's deputy CEO Paweł Sredniawa.
"Two elements are supporting the strengthening of contracting. The first is the number of tenders we are participating in - these are photovoltaic tenders, upcoming storage tenders," he added.
The deputy CEO pointed to the second aspect - if Onde completes the sale of 300 MW of projects that it has in its backlog (the group usually carries out such transactions in the DSB formula, i.e. together with EPC or BOP contract, depending on the technology), this would provide an additional source to Onde's executive portfolio and increase the group's backlog.
As the deputy CEO Marek Marzec added, Onde has high hopes for a group of hybridisation projects with a total capacity of around 500 MW.
"In the medium term of 2-3 years, we should add the wind part and energy storage as an option and build an attractive value from this portfolio. The portfolio of greenfield projects will also grow," he assessed.
According to Onde's management board, the area related to investments planned by transmission and distribution operators is starting to be an important market.
doa/ ao/