Copenhagen, 15 May 2013
Company Announcement No 13/2013
Positive trend in financials for Q1 2013
-- 22% increase in revenue to EUR 20.5M for Q1 2013, including revenue from associates -- 59% increase in EBITDA for Q1 2013 to EUR 12.9M -- 27% increase in EBITDA to EUR 13.1M for Q1 2013, including EBITDA from associates -- Q1 2013 profit of EUR 2.1M
Significant production increase and positive trend in wind conditions
-- Total production generated in Q1 2013: 132 GWh (net) - up 41% -- Approx. 1/3 of the total expected annual net production has been already generated during Q1 2013 -- Actual wind production vs. estimates: +21% in Q1 2013 -- Actual solar production vs. estimates: -4% in Q1 2013
Sale of 50% of the Wojciechowo project
-- In January 2013, Greentech sold its 50% stake of the Wojciechowo project in Poland to the partner PGE Energia Odnawlalna S.A. (Company Announcement No 2/2013).
Project financing of Cagliari II completed
-- The financing of the Cagliari II project for EUR 14.5M was completed in February 2013 (Company Announcement No 4/2013).
First steps taken towards entering the US market
-- In March 2013, Greentech signed a term sheet agreement of a majority joint venture with the Foresight group for investments in PV projects in USA (Company Announcement No 6/2013).
Events occurred after 31 March 2013
-- At the Annual General Meeting held on 18 April 2013, the Board of Directors was enlarged with two representatives from Pirelli Group and Banca Intesa Group.
Chairman of the Board of Directors, Peter Hoestgaard-Jensen, says:
"Greentech is pleased to announce the Q1 2013 results showing a profit and underlining the on-going positive financial trend with double-digit percentage growth in key figures. Particularly thanks to the excellent performance of the Italian and Spanish wind activities, the Company has experienced a good start of the year. In Q1 2013, Greentech has taken the first steps towards diversifying out of Europe and continues to explore new business opportunities with the aim of reaching the Company's overall goal in 2014."
Contact:
Peter Hoestgaard-Jensen, Chairman of the Board of Directors, Tel: +45 40 10 88 71
Sigieri Diaz della Vittoria Pallavicini, CEO, Tel: +45 33 36 42 02
Attachment:
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=432668
Company Announcement No 13/2013
Positive trend in financials for Q1 2013
-- 22% increase in revenue to EUR 20.5M for Q1 2013, including revenue from associates -- 59% increase in EBITDA for Q1 2013 to EUR 12.9M -- 27% increase in EBITDA to EUR 13.1M for Q1 2013, including EBITDA from associates -- Q1 2013 profit of EUR 2.1M
Significant production increase and positive trend in wind conditions
-- Total production generated in Q1 2013: 132 GWh (net) - up 41% -- Approx. 1/3 of the total expected annual net production has been already generated during Q1 2013 -- Actual wind production vs. estimates: +21% in Q1 2013 -- Actual solar production vs. estimates: -4% in Q1 2013
Sale of 50% of the Wojciechowo project
-- In January 2013, Greentech sold its 50% stake of the Wojciechowo project in Poland to the partner PGE Energia Odnawlalna S.A. (Company Announcement No 2/2013).
Project financing of Cagliari II completed
-- The financing of the Cagliari II project for EUR 14.5M was completed in February 2013 (Company Announcement No 4/2013).
First steps taken towards entering the US market
-- In March 2013, Greentech signed a term sheet agreement of a majority joint venture with the Foresight group for investments in PV projects in USA (Company Announcement No 6/2013).
Events occurred after 31 March 2013
-- At the Annual General Meeting held on 18 April 2013, the Board of Directors was enlarged with two representatives from Pirelli Group and Banca Intesa Group.
Chairman of the Board of Directors, Peter Hoestgaard-Jensen, says:
"Greentech is pleased to announce the Q1 2013 results showing a profit and underlining the on-going positive financial trend with double-digit percentage growth in key figures. Particularly thanks to the excellent performance of the Italian and Spanish wind activities, the Company has experienced a good start of the year. In Q1 2013, Greentech has taken the first steps towards diversifying out of Europe and continues to explore new business opportunities with the aim of reaching the Company's overall goal in 2014."
Contact:
Peter Hoestgaard-Jensen, Chairman of the Board of Directors, Tel: +45 40 10 88 71
Sigieri Diaz della Vittoria Pallavicini, CEO, Tel: +45 33 36 42 02
Attachment:
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=432668
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