WindForce reports 22% growth in 9-month PAT; announces Rs. 1.35 b dividend payout

Saturday, 15 February 2025 01:40 - - {{hitsCtrl.values.hits}}

MD Manjula Perera

WindForce PLC, yesterday announced a dividend of one rupee per share, totalling a payout of Rs. 1.35 billion for the financial year 2024/25.

“This reaffirms the company’s commitment to delivering shareholder value, with total dividends declared since its IPO now exceeding Rs. 4.4 billion. Shareholders have enjoyed a 35% total return during FY 24/25, reflecting WindForce’s strong financial performance and growth strategy,” the company said in a statement.

Key financial highlights include – Revenue growth: Consolidated revenue of Rs. 5.37 billion, marking a 16% increase YoY; EBITDA Growth: 37% increase, reaching Rs. 5.07 billion, for the nine months ended 31 December 2024, compared to Rs. 3.69 billion last year; PAT growth: 22% increase, reaching Rs. 2.05 billion, for the nine months ended 31 December 2024, compared to Rs. 1.68 billion last year and Dividend Payout: Funded through dividend income from project companies and recovery of long-outstanding arrears from the Ceylon Electricity Board (CEB).

WindForce Managing Director Manjula Perera said: “This strong financial performance underscores WindForce’s operational efficiency and our ability to capitalise on growth opportunities in the renewable energy sector. WindForce remains committed to our vision of powering a greener future, delivering consistent growth, and creating long-term value for our stakeholders.”

The statement said among strategic growth initiatives were 100 MW Siyambalanduwa solar power project – the largest solar power project in Sri Lanka and the 10 MW Sooryashakthi solar power project, further expanding WindForce’s renewable energy footprint.

“These investments highlight WindForce’s commitment to sustainable energy solutions, financial discipline, and enhancing shareholder returns while driving the future of renewable energy in Sri Lanka,” the company added.

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