Source: Athena Investments A/S

Interim Financial Report – Half Year 2018

Copenhagen, 2 August 2018

Positive trend in financials for H1 2018

-4% decrease in revenue to EUR 27.2M mainly due to changes in perimeter (+2% excluding changes in perimeter)
Stable EBITDA amounting to EUR 20.3M (EUR 24.3M including Joint Ventures)
11% profit increase to EUR 5.4M

Stable production trend in H1 2018

+10% in total net production in H1 2018 vs H1 2017: 180 GWh (excluding change in perimeter)
• Actual wind production in line with estimates
-3% in actual solar production vs estimates

Positive trend in Athena’s share price

+25% six-month average H1 2018 (8.89DKK) vs H1 2017 (7.13DKK)

Chairman of the Board of Directors, Luca Rovati, says:

If we exclude the changes occurred in the perimeter of our business, which are consistently part of the new strategy of Athena, the Company has delivered a stable performance both in terms of production and profitability. In addition, the cash generation is improving as expected and allows the Management to further explore potential diversifications currently under scrutiny.”


Peter Høstgaard-Jensen, Deputy Chairman of the Board of Directors, Tel: +45 40 10 88 71
Alessandro Reitelli, CEO, Tel: +45 33 36 42 02