Cox Energy América, S.A.B. de C.V., Reports Full Year 2021 Results

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Mexico City, February 28th, 2022. – COX ENERGY AMÉRICA, S.A.B. DE C.V. (“Cox”, “Cox Energy”, “Cox Energy América” o “the Company”) (BIVA/BMV: COXA*), a company dedicated to the development and management of solar photovoltaic renewable energy projects reports its results for the full year ending December 31st, 2021. All figures included in this report are in nominal Mexican pesos and are in line with the International Financial Reporting Standards (IFRS).

HIGHLIGHTS

  • The Company’s Strategic Plan for 2022 is mainly focused on achieving a diversified portfolio in Latin America, as well as the rotation of some assets that are at different stages of maturity. At the end of 2021, the total attributable capacity, including identified opportunities, reached 2,317 MWp, with more than 45 active projects.

  • Total revenue for 12M-2021 was $23.79 million pesos, an increase of 96.9% compared with 12M-2020, mostly driven by the solid performance of the energy sales team in Mexico, which mainly sells energy to the wholesale market, as well as managing energy exchange operations with clean energy certifications.

  • Cox Energy signed a long-term energy contract in Colombia with the company AIR-E, S.A.S. E.S.P., a leading Grid Operator in the Caribbean region. This contract consolidates Cox Energy’s position in Colombia as a relevant player in the energy exchange market, with energy supply obligations beginning in 2024. The agreement is subject to the execution of the established timeline and current regulations.

  • The Company obtained a favorable environmental rating for the San Francisco (PMGD) project in Chile, which allows it to start the construction phase. This resolution will advance the consolidation of Cox Energy’s operations with medium-sized distributed generation projects in the Chilean market.

  • In January 2022, Cox Energy, in a joint venture with Sonnedix, began the initial phases of operation, in compliance with the long-term contract for up to 264 GWh/year of renewable energy for a period of 20 years. The Company advances to comply with international energy tender awarded in 2016, with an operating contract in Chile.

 

MESSAGE FROM THE CEO

José Antonio Hurtado de Mendoza, Chief Executive Officer of Cox Energy América, said: “During 2021 we made significant progress in our expansion and growth plan despite a challenging global macroeconomic environment. At Cox Energy we continue to seek value creation in all our operations, through a solid and resilient business model, reinforced by our commitment to sustainability. To this end, we are constantly working on strengthening our growth strategy, driven by the business’ fundamentals and the Company’s outstanding professional talent.” 

He added:I would like to honor the hard work of our employees in seeking to strengthen the Company’s operations. By having the best team possible, we anticipate a strong 2022, supported mainly by the search for new growth opportunities and the promotion of strategies for greater profitability. We will continue working to meet the goals set out in our Strategic Plan, with 2022 being a key year for consolidation and achieving our goals

 

Miranda Newswire – Full Press Release: Download PDF

 

Contact Details

Enrique González

e.gonzalez@coxenergy.com

Investor Relations

inversores@coxenergyamerica.com

 
About the Company
Cox Energy América is a photovoltaic renewable solar energy generation company, listed on the Mexican Institutional Stock Exchange (“BIVA”). COX develops, promotes, and operates photovoltaic plants in several Latin American countries, with a presence in Mexico, Chile, Colombia, Guatemala, Central America, and the Caribbean. It has a unique portfolio of projects at different stages of development and has identified opportunities to carry out its activity within a sustainable development framework.
Forward Looking Statements
This document contains certain statements related to the comprehensive overview of Cox Energy América (COX) regarding its activities to the present day, as well as assumptions and information currently available for the Company. The statements contained herein reflect the current views of COX with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause future results, performance or achievements of COX to differ from those expressed or implied by such forward looking statements, including, among others, economic or political changes and global business conditions, risks related to the COVID-19 global pandemic impact, changes in exchange rates, the overall state of the industry, changes in demand for photovoltaic energy, raw material costs, the Company’s ability to execute commercial continuity plans as a result of the COVID-19 pandemic, among others. COX does not intend nor assume any obligation to update the statements presented in this document.

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