Power Electronics sales shoot up to 490.7 M EUR, driven by energy storage

6 May, 2021

The Valencian technology multinational Power Electronics is continuing along the pathway of strong results, closing the 2020 fiscal year with 490.7 million euros in sales. This figure represents a 42% increase in invoicing from the year before, in which sales of 346.6 million euros were attained.

 

David Salvo, CEO of the company, has been highly satisfied with the results achieved and has pointed out two key factors that explain the notable increase in sales, “doubtless our strong leadership in the U. S. and the momentum taken by sales of bidirectional charges for the battery-powered energy storage sector, a sector which is expected to show sustained growth up to 2030, have been decisive.”

 

Despite the complexities arising from a year affected by the health crisis that affected the entire sector, putting its solvency to the test, Power Electronics has met these challenges with stability, achieving an operating profit of 46.6 million euros, which represents an increase of 215% on the previous year, in which it achieved 14.8 million euros.

 

With management distinguished by strong results and consolidation of national and international positions, the company moreover is a driver of employment within the sector, since its workforce increased by 8% during a year as difficult as the previous one.

 

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