Quarterly revenue grew 11.6% year over year to a record high of $72.9 million

Adjusted EBITDA up 16.9% YoY to $8.4 million; Step change improvement over the previous quarter

(Spark Power reports in Canadian dollars unless otherwise noted)

OAKVILLE, ON / ACCESSWIRE / August 11, 2022 /Spark Power Group Inc. (TSX:SPG)the parent company of Spark Power Corp. (“Spark Power” or the “Company”), has announced its financial results for its second quarter, three and six month period ended June 30, 2022.

“I am very pleased that the benefits of our hard work are reflected in our financial results. We have built on the positive momentum we had from our first quarter and I am cautiously optimistic that we will continue to post gains in the second half as the benefits of our revenue mix and integration efforts take full effect. said Richard Jackson, President and CEO of Spark Power. “Additionally, we have further strengthened the quality of our revenue by adding significant new long-term customers to the US solar market and signing a new long-term contract with our largest regulated utility customer in Western Canada – a sign that we see positive tailwinds in the market and promising opportunities for.” sustainable growth. I am very pleased with the overall progress our management team is making as we take Spark through the next stages of its maturity,” added Jackson.

“Our second quarter results demonstrate the progress we have made in executing our plans to improve margin realization and realign our cost structure. I am particularly pleased with the improvement in profitability of our Technical Services and Renewables segments in line with our corporate update released in June and look forward to launching our first go-live on our new ERP platform,” said Richard Perri, Executive Vice President & CFO, Spark Power Corp. “These achievements will certainly help support the advanced discussions we are having…