EAM Solar ASA : Q2 2014 financial report

EAM: Q2 2014 financial report

 

The highlights from the report are as follows:

 

Main activity in the second quarter was the finalization of the negotiations and due diligence of the P31 portfolio. The final agreements for the purchase were signed on the 26^th of June.
Q2 power production was 3,28 GWh, 7% above seasonal average, bringing first half year production to 4,8 GWh equivalent to 2% above normal for the period (excluding P31 power plants)
Reported EBITDA in the quarter was EUR 468k, adjusted for P31 acquisition costs, EBITDA was EUR 861k. Slightly higher cost of operations in the quarter is related to maintenance and larger scope of operations.
EAM published a Stock exchange notice on Monday the 28^th of July commenting on subsequent events relating to the P31 portfolio acquisition, these events are also commented in more detail in the Q2 report.

For information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

 

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.