The energy company Holaluz has had its shares suspended from trading on the BME Growth due to its inability to publish its annual audited financial information on time. According to the accounts communicated to the BME Growth, Holaluz lost a total of 26 million euros in 2023, compared to 5.1 million in losses in 2022.
Yesterday, BME announced the suspension of trading of Holaluz shares due to the company’s failure to meet its obligation to publish the auditor’s report corresponding to the financial information for 2023. The suspension came into effect at 8:00 a.m. today, and for now, Holaluz has not provided any updates on the situation.
Holaluz also announced that representatives on its board of directors from the venture capital fund Axon and the Geroa pension fund had signed the accounts in disagreement. The company is negotiating the acquisition of financing, including a 10 million euro loan from the Catalan Institute of Finances. The delay in obtaining this financing has led the company to consider the possibility of presenting a pre-contest creditors’ plan.
The photovoltaic panel market is facing challenges similar to those faced by other companies in the sector, with Holaluz announcing an ERE for around 200 workers last November due to slowdowns in solar business growth. In addition, BME has suspended trading of SolarProfit, a photovoltaic self-consumption group based in Barcelona, citing liquidity tensions affecting compliance with payment deadlines as a reason for opening negotiations with creditors to reach a restructuring plan. This situation highlights how companies in the energy sector are facing changing market dynamics and challenges that can affect their financial stability and ability to compete effectively.
In conclusion, Holaluz’s failure to publish its annual audited financial information on time has resulted in their shares being suspended from trading on BME Growth since early this morning. The company is facing challenges similar to those faced by other companies in
