COX ENERGY, DIVISIÓN DE ENERGÍA DE COXABENGOA, TRIPLICÓ SUS INGRESOS DURANTE 2023 HASTA LOS 1,279 MILLONES DE PESOS, CON UN EBITDA DE MÁS DE 350 MILLONES DE PESOS

• Consolidated EBITDA in 2023 closed at 350.5 million pesos, reporting a margin on sales of over 27.0%.
• The company increased its revenues by 200% compared to the previous year, reporting consolidated income for 2023 of 1,279.3 million pesos.
• The value of fixed assets as of December 31, 2023, was 5,408.5 million pesos, reflecting an increase of 4,174.3 million pesos compared to 2022, mainly due to acquisition operations carried out during 2023.
• Cox Energy closed 2023 with an advanced pipeline totaling 3.3GW of energy, comprising 57 projects in different stages of development, construction, and operation, including 5 projects in operation totaling 383MW.

Mexico City, February 28, 2024. Cox Energy, a division of Coxabengoa, is a utility in the energy sector listed on the Mexican Institutional Stock Exchange (BIVA) and Spain’s BME Growth. In 2023, it recorded a 200% increase in revenue compared to the previous year. This revenue increase was mainly due to the incorporation of Coxabengoa Infraestructuras Energía assets, which only consolidated for one month of the year, as well as three months of Cox Energy Europa consolidation. Additionally, energy sales in Mexico saw a 25% growth contributing to the consolidated revenue increase. With these results, the Company exceeded its targets for 2023, reaffirming its commitment to growth and value generation.

EBITDA for the twelve months of 2023 was 350.5 million pesos, including the positive effect of integrating Abengoa’s energy assets, as well as contributions from the European platform and trading and self-consumption business.

During the twelve months of 2023, a net loss of 83.9 million pesos was recorded, mainly due to an extraordinary accounting effect related to intangible impairments. However, excluding this extraordinary effect, the account for the period would have recorded an adjusted net profit of 56.2 million pesos.

The value of fixed assets as of December 31, 2023, was 5,408.5 million pesos, representing an increase of 4,174.3 million pesos compared to 2022, mainly due to the acquisition of Abengoa’s energy assets, including operating assets in Brazil and Algeria, and the addition of European platform assets, including the Spanish marketer and a 40% stake in Ibox Energy, a Spanish photovoltaic project developer.

Cox Energy CEO, José Antonio Hurtado de Mendoza, stated, “2023 was a transformative year marked by several milestones: the dual listing on the BME Growth, the integration of Cox Energy’s European platform, and the acquisition of CA Infraestructuras, which includes productive energy assets from Abengoa.” Hurtado de Mendoza also affirmed, “During 2023, we expanded our operations through participation in public tenders and long-term strategic agreements, which allowed us to achieve extraordinary financial results, with record revenue and EBITDA growth, thus surpassing established targets.”

Cox Energy has an advanced project pipeline totaling 3.3GW of power in various stages of development, construction, and operation, including two operational assets from Abengoa’s energy portfolio totaling 220 MW, Abengoa Bioenergía Brasil, which operates a bioethanol cogeneration plant in Brazil with a capacity of 70 MW, and a hybrid combined-cycle plant with thermosolar technology for energy generation with a capacity of 150 MW in Algeria. Additionally, in 2023, the La Meseta de los Andes solar plant in Valparaíso (Chile) with a capacity of 160 MW began operations, and operations commenced for the PMGD portfolio in Chile totaling 42MW.

Cox Energy is present throughout the value chain: from project development, financing, material procurement, operation and maintenance, asset management, energy supply, self-consumption, and now also engineering and construction of plants.

For more information:

Javier Solís. Communication Director. Cox Energy. Phones 91-438.42.58 / 608.528.568 j.solis@coxenergy.com

Media Contact:

Saúl Sánchez. Miranda Partners. Phone 5541920643 saul.sanchez@miranda-partners.com

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