Copenhagen, 14 November 2012
Company Announcement No 27/2012
Highlights
Positive trend in financials continues
- 43% increase in net production to 260.4 GWh
- Q1 – Q3 2012 loss before tax of EUR 4.8M (loss of EUR 1.3M before tax adjusted for non-recurring costs)
- 29% increase in pro-forma consolidated revenue for Q1 – Q3 2012 to EUR 43.5M
- 29% increase in pro-forma consolidated revenue for Q1 – Q3 2012 including revenue from associates to EUR 51.9M
- 89% increase in pro-forma consolidated EBITDA for Q1 – Q3 2012 to EUR 22.7M adjusted for non-recurring costs
- 78% increase in pro-forma consolidated EBITDA for Q1 – Q3 2012 including EBITDA from associates to EUR 29.2M adjusted for non-recurring costs.
Significant production increase
- Total electricity generated in Q3 2012: 90 GWh (gross) – up 18%
- Total electricity generated in Q1 – Q3 2012: 318 GWh (gross) – up 32%
- Average wind speed achieved for Q1 – Q3 2012 4% below estimates
- Solar conditions above expected level for the Q1 – Q3 period.
Full-year expectations updated
- Net production: 350 – 355 GWh
- Revenue (incl. associates): EUR 68 – 70M
- EBITDA incl. associates (adjust. for non-recurring costs): EUR 37 – 39M.
Chairman of the Board of Directors, Peter Høstgaard-Jensen, says:
”Greentech announces the Q3 2012 report with a continued positive trend in financial figures, despite the results being adversely influenced by non-recurring costs and postponing in entry into operation of some new projects. The Company maintains a strong cash position and remains continuously attentive to exploit new business opportunities arising in order to pursue the Company’s goal.”
For further information, please contact:
Sigieri Diaz della Vittoria Pallavicini, CEO, tel: +45 33 36 42 02
Peter Høstgaard-Jensen, Chairman of the Board of Directors, tel: +45 40 10 88 71
