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Dec 31, 2021
Ormat Q4 2021 Earnings Report
Ormat reported strong Q4 2021 results with significant growth in revenues and Adjusted EBITDA, driven by expanding electricity and energy storage portfolios and strategic actions.
Key Takeaways
Ormat Technologies reported a 6.5% year-over-year increase in total revenues for Q4 2021. The company's Adjusted EBITDA reached a record $116.0 million, a 6.3% increase compared to the previous year. The growth was supported by the Electricity segment, the recovery of the Puna power plant, and the successful integration of newly acquired geothermal assets.
Total revenues for the fourth quarter increased by 6.5% year over year.
Electricity segment delivered record fiscal 2021 revenues and grew by 8.2% versus prior year.
Storage development pipeline grew to 2.3GW.
Ormat portfolio poised to deliver significant growth supported by the expansion of our geothermal electricity portfolio.
Ormat
Ormat
Ormat Revenue by Segment
Revenue by Segment
Electricity Revenue
CapyFin.comProduct Revenue
CapyFin.comEnergy Storage Revenue
CapyFin.com Forward Guidance
Ormat expects meaningful revenue expansion in 2022, driving profitable growth of roughly 10% in Adjusted EBITDA versus 2021 results. The company anticipates an annual Adjusted EBITDA of $500 million on a run-rate basis towards the end of 2022.
Positive Outlook
- Total revenues of between $725 million and $750 million
- Electricity segment revenues between $645 million and $655 million
- Product segment revenues of between $50 million and $60 million
- Energy Storage segment revenues of between $30 million and $35 million
- Adjusted EBITDA to be between $430 million and $450 million, including $9.0 million for insurance proceeds
Revenue & Expenses
Visualization of income flow from segment revenue to net income