BeeIN, listed on NewConnect and present on 20 markets in the renewable energy sector, increased its net sales value to PLN 15.8 million (vs PLN 8.6 million in the first quarter) in the second quarter, an increase of 83%. In the first half of the year, beeIN S.A. sold over 68 thousand products (compared to over 52 thousand in the first half of 2023), generating PLN 24 million in net sales revenue.
In the second quarter, the company significantly increased the number of products sold, which exceeded 46 thousand (vs over 22 thousand products sold in the first quarter). From April to June 2024, beeIN S.A. recorded a sales volume increase of photovoltaic panels reaching 42 thousand (compared to 31 thousand in the corresponding period of the previous year). This result confirms the validity of adopting a multidistributor model, allowing the company to offer competitively priced products to owners of solar farms.
“With the start of 2024, energy storage facilities, which sales are progressively increasing, appeared in the revenue structure of beeIN. We recently expanded our offer with devices from renowned manufacturers – CFE, Deye, Dyness, and Kehua, as we expect further sales growths after the launch of the ‘My Current 6.0’ program. But we have even higher expectations for the sales of sets dedicated to the beneficiaries of ‘Clean Air’, which sales tripled in Q2.” Michał Sochacki, CEO of beeIN, said.
Sets made up of a heat pump or pellet stove and components appeared in the company’s offer in 2024. They immediately aroused great interest among business customers, planning investment implementation with subsidies from the ‘Clean Air’ program. After recording dynamic growth of set sales in the second quarter, the company plans to expand the sale of products from this category to other networks.
“We also see a great potential in the buffer tanks made by us from stainless steel and hot water tanks we sell in sets. The factors stimulating their sales are subsidies from government programs – our customers can get them because tanks with the beeIN logo meet the requirements of the heat storage” adds Michał Sochacki.
Sets for the beneficiaries of ‘Clean Air’ and ‘My Current 6.0.’ contain 100-liter buffer tanks and 200-liter hot water tanks with a coil length of 3.1 m², and 300-liter hot water tanks with a coil length of 4.7 m². The sets also include heaters with a thermostat and a magnesium anode. BeeIN observed a sharp increase in the sales of this category of products in the second quarter of 2024 and expects further growth with the opening of the sixth edition of ‘My Current’.
“We expect an increase in interest in our products in the next quarter due to the planned start of the postponed government grant program. At the same time, in line with our strategy, we are focusing on international expansion, gradually diversifying sales. We are pleased to note that in the second quarter, we again increased the share of revenues obtained from foreign markets to 41% and intend to continue this direction” – summarizes Michał Sochacki, CEO of beeIN.
Source: https://managerplus.pl/beein-z-83-owym-wzrostem-przychodow-za-ii-kwartal-spolka-stawia-na-nowe-kategorie-produktowe-86426
