EAM: 4th quarter report 2013
12th of February 2014
EAM Solar ASA has released the 4th quarter 2013 financial report and the highlights are;
Conditional agreement to acquire 30MW in southern Italy for EUR 114.3 million signed in the 4th quarter. Financial closing expected in 1st quarter 2014
Revenues in 2013 came in at EUR 3,1 million from a power production of 7,4 GWh.
Full year EBITDA adjusted for non-recurring items of EUR 1,65 million.
Reported net profit for 2013 of EUR 4,5 million, adjusted for non-recurring items, gains from bargain purchase and currency exchange gains, net profit came in at EUR 192k.
See enclosed quarterly report for further information
For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no
About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close. The current portfolio has a combined capacity of 6.6 MW and an annual production capacity of approximately 9 GWh. On 31 December 2013, EAM Solar signed a sale and purchase agreement ("SPA") to acquire a portfolio of 31 solar power plants in Southern Italy with a combined capacity of 30 MW and an average annual electricity production of approximately 44 GWh for a total consideration of EUR 114.3 million.
For more information, please visit www.eamsolar.no
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
