ZGR increases its share capital by €4.6 million to further its plans for growth

production plant ZGR corporation
  • The group expects to reach a turnover of €26m by the end of its 2021-2023 strategy plan, which translates into a 234% growth over the course of 3 years.
  • With headquarters in Vitoria and branches in Madrid, Mexico and Columbia, ZGR anticipates increasing its workforce by 12% between 2021 and 2023

ZGR increases its share capital

ZGR has increased its share capital by €4.6m to strengthen its plans for growth. Over the last four years, ZGR has renewed its power electronics solutions, improving Industry, Transmission and Distribution and Energy.

Renewing its solutions backlog, driven by significant investment in R&D&I amounting to more than €4m, has converted it into one of the companies with the brightest growth prospects in the industrial energy sector.

According to its 2021-2023 Strategy Plan, ZGR foresees ending 2023 with a turnover in excess of €26m, which translates into a 234% turnover increase in three years.

Some data, why the capital increase

As a result of this growth, ZGR, with headquarters in Vitoria and subsidies in Madrid, Valencia, Mexico and Columbia, estimates a workforce increase of 12% during this time, rising from the current 89 employees to 100 in 2023.

ZGR’s transformation process started in 2017. Over the course of the past four years, the organisation has been focused towards business and we have created stability,” says CEO Íñigo Segura, who adds: “Now, both the capital increase and the financing lines achieved mean that we can consolidate our balance sheet and have enough financial strength to make the substantial investments planned in R&D&I in response to the envisaged market growth. We will continue to invest more than one million euros each year on R&D&i in the upcoming financial years”.

As a result, this capital increase confirms our partners’ confidence in and commitment to the project and conveys a clear message to all our customers, suppliers and financial institutions.

Growth in excess of 30% in 2021

So far in 2021, ZGR’s turnover has improved by 34% compared to the same period last year, with particular improvements having been made in the Industry business line. To this regard, ZGR has an important backlog of clients, including companies such as Mercadona, Abbot or Schneider. As a result of this, the company envisages closing the year with a turnover in excess of €10m, compared to €8m in 2020.

ZGR also envisages a 94% EBITDA improvement by the end of 2021, despite increased personnel costs as a consequence of new recruitments and the cost of materials and transport Another goal is to achieve a 29% improvement of the operating profit and a 35% cashflow improvement.

Increases its share capital: Focusing on energy efficiency

ZGR designs its business to guarantee optimum management of quality electrical energy across the entire value chain: Generation, transmission, distribution and consumption.

ZGR focuses on energy efficiency“, says Íñigo Segura. He points out: “We have a long history manufacturing electrical components. We also develop comprehensive solutions and guarantee subsequent service and maintenance, which makes us a more appealing option for our customers. Our customers will find in us a partner who understands their business, helps them become more energy efficient and develops robust, flexible and intelligent solutions to meet their requirements.”

In addition, the company has been approved by Iberdrola, Naturgy, Viesgo or Ecopetrol, as well as other major international electricity and energy companies, as a benchmark and exclusive supplier.

Also, ZGR’s investment in Technological Design and Innovation for the upcoming years are aimed towards:

consolidation in the main markets it operates in (Spain, Columbia and Mexico); capturing new markets (Europe, North Africa and Latin America) and generating new business models.

To serve these markets, the company’s production capacity is focused on manufacturing inverters that generate 2MW/day, as well as managing grid quality for 25 MW/year and generating direct current for 40 units/month.

As manufacturers to this equipment, one of our most distinguishing factors is our technical service and manufacturing warranties. ZGR also offers warranties above market standards with a local technical service that responds within 24 hours.

About Zigor Corporación

In conlusion, ZIGOR CORPORACIÓN S.A. is a corporate group that specialises in the design, manufacture, implementation and maintenance of solutions for comprehensive electrical energy management. Manufacturing since 1998, its headquarters are in Vitoria with offices in Madrid, Valencia, Mexico and Colombia.

ZGR’s solutions particularly stand out in the following areas:

  • The development of smart medium voltage and grid quality systems.
  •  Hybrid and modular energy storage, using batteries.
  • It boasts three areas of specialisation:
    • Industry
    • Transmission and Distribution
    •  Energy (photovoltaic).

As it is a manufacturer, one of our most distinguishing factors is the local technical services and our manufacturing warranties.

In other words, it has a significant amount of national and international certifications and approvals for its business activities.

It allocates more than 10% of its annual turnover to investment in Research, Technological Development and Innovation for energy conversion.