El. Tech. Anemos group doubles profit figures for 2014

The El.Tech. Anemos group of companies, active in energy production, primarily through wind farms, has reported a consolidated turnover of 31.6 million euros for 2014, down from 36.9 million euros in the previous year, a 14.3 percent year-on-year decrease.

The decrease was attributed to uncommonly low wind performance data and tariff adjustment based on Law 4254/2014, the so-called New Deal.

As a result, the group’s EBITDA figure amounted to 20.9 million euros, compared to 22.1 million euros in 2013, a 5.6 percent decrease, while EBIT amounted to 13.4 million euros, compared to 12.4 million euros for 2013, a 7.9 percent increase.

Consolidated profit after tax (net tax) amounted to 4.6 million euros, compared to 2.7 million euros in 2013, of which the amount attributable to the parent company is 4.4 million euros, compared to 2.4 million euros for 2013.

Consolidated net profit per share amounted to 0.0616 euros compared to 0.0380 euros for the fiscal year in 2013.

Consolidated net debt (total loans minus cash, cash equivalents and restricted deposits) amounted to 104.3 million euros, compared to 112.6 million euros for 2013.

As for the parent company, its total turnover amounted to 29.2 million euros, compared to 33.9 million euros during the equivalent 12-month period of 2013. EBITDA amounted to 19.5 million euros, compared to 20.5 million euros in 2013, while EBIT amounted to 12.6 million euros, compared to 11.5 million euros for 2013. Profit after tax (net profit) amounted to 4.2 million euros, compared to 2 million euros in 2013 and net profit per share amounted to 0.0592 euros per share compared to 0.0329 euros per share for 2013.

Total installed capacity at the El.Tech Anemos group of companies is 171 MW, comprised of twelve wind farms totaling 164 MW, one small hydropower plant of 5 MW, and one photovoltaic project of 2 MW.

At present, two additional wind parks with a total installed capacity of 36.8 MW are at an advanced stage of construction. A further two wind parks with a total installed capacity of 57.2 MW are expected to be completed by mid-2016. In addition, projects of a total installed capacity of 860 MW are at various stages of the licensing process, 325 MW of which are at an advanced stage.