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Good winds result in higher income for Eltech Anemos

Published

August 31, 2015

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Published:

August 31, 2015

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Eltech Anemos Group of companies said its consolidated first-half turnover amounted to EUR 19.2 million compared to Euro 16.9 million during the same period of 2014. The increase has been attributed to better wind performance. Consequently, earnings before interest, tax, depreciation and amortization (ebitda) amounted to EUR 14.5 million, compared to EUR 12 million from last year, while pre-tax earnings amounted to EUR 10.6 million, compared to EUR 7.8 million. Both margin categories were increased, from 70.7% to 75.4% and from 46.2% to 55.4%, respectively. Consolidated profit after tax rose to EUR 4.6 million from EUR 3.3 million from the corresponding period of 2014, of which the amount attributable to the parent company is EUR 4.3 million, compared to EUR 3.1 million.

Consolidated net profit per share amounted to EUR 0.0515 compared to Euro 0.05 for the same period of 2014. Consolidated net debt (total loans minus cash, cash equivalents and restricted deposits, financial assets held to maturity) decreased to EUR 96 million, compared to EUR 104.3 million from December 31.

The parent company’s total turnover soared to EUR 17.5 million, compared to EUR 15.5 million in the same six-month period of last year. Ebitda amounted to EUR 13.2 million, compared to EUR 11 million, while ebit amounted to EUR 9.6 million, compared to EUR 7.2 million. Net profit amounted to EUR 3.9 million, compared to EUR 3 million from the same period of 2014, and net profit per share decreased slightly to EUR 0.0474, compared to 0.0484.

Including the newly commissioned Ortholithi wind farm, total installed capacity of Eltech Anemos Group is 191.45 MW. There are thirteen wind facilities with an overall 184.5 MW, one small hydroelectric project of 4.95 MW and one photovoltaic plant of 2 MW. In mid-August the extension (16.1 MW) of Magoula-Kazakou wind farm in Evros area started trial operation, thus increasing the group’s total installed capacity to almost 208 MW. Two wind parks with a total installed capacity of 58 MW are being constructed. In addition, projects of a total installed capacity of 775 MW are at various stages of the licensing process, 240 MW of which have environmental conditions approval, Eltech Anemos said.

 

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