Enlight Renewable Energy Expects 2024 Revenue Of $335M-$360M Vs. $393.46M Consensus; Sees Adjusted EBITDA Between $235M-$255M
2024 Financial Outlook
Details of the 2024 outlook include:
- Revenue between $335m and $360m
- Adjusted EBITDA4 between $235m and $255m
Our guidance reflects annual growth of 36% and 30% at the midpoint compared to 2023 respectively, demonstrating our accelerated growth path in 2024 and the years ahead.
Of our total forecasted revenues, 40% are expected to be denominated in Israeli Shekel, 55% Euros, and 5% in US Dollars. Given our large exposure to the Shekel and Euro and the current higher degree of volatility in these currencies, our guidance is predicated on an average annual exchange rate assumption of 3.8 Shekels to the Dollar and 1.05 Euros to the Dollar. In addition, 90% of 2024's expected generation output will be sold at fixed prices either through hedges or PPAs.