Soltec loses more than half its price in 2021
Soltec Powr Br-Unty is no longer the red lantern of the bag. A dubious honor that has been lost due to the falls of Codere, which is listed as the worst in the Continuous Market so far this year. But the fact is that the Murcian company already lose, in its negative stock market path of this 2021, more than half of its market price.
It deepens its losses due to that domino effect that marks, like a scarlet letter, the most disadvantaged stock values so far this year. And is that when a large one falls, the rest of the renewable sector, and especially photovoltaics, fall sharply. This is what has happened, as a domino effect, with the lead cuts, after the warning about its benefits with Siemens Gamesa. The sector has become a powder keg that explodes at the minimum incidence.
In its stock chart we see that what was seen as a punishment for its oversize at the beginning of the year, Has turned into deep falls given the selectivity with which investors choose their sustainable projects in the market. In fact, the value has dropped 53% since last January 4 with cuts since the beginning of July of 18% while, in the last 20 sessions, value cuts 14.5%
Soltec annual share price
All this while since June 7 the British fund Helikon Investment keeps unaltered a short position, following its slightly upward revision on Soltec, 0.60% of its capital.
At its first shareholders meeting, held at the end of last month, Soltec has approved a capital increase of 13 million euros for its Industrial subsidiary. Thus, 52,000 shares will be issued with a nominal value of one euro and an individual issue premium of 249 euros. It is a mandatory process to transfer part of the funds that Soltec obtained in its IPO, to this subsidiary of the group.
On the board, its president, Raúl Morales, is committed to the company’s project, for the future and with long-term growth. Despite its stock market outlook, it pointed out that at the end of last year, Soltec Industrial’s order book, its backlog, reached 1,891MW. That means a valuation of 190 million euros, 33% more than at the end of 2019. At the end of the first quarter, this portfolio reached 306 million euros
While its pipeline is placed at 24,340 MW with a market value of 2,665 million, with a growth of 152%, in a trend that accelerates this year. On the other hand, Soltec has just signed a contract for its SF7 bifacial solar trackers with Statkraft, the leading Norwegian company in hydraulic generation, to build four photovoltaic plants in Cádiz with a total installed capacity of 234 MW.
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