EL.TECH. Anemos reports higher nine-month results

EL.TECH. Anemos on Tuesday reported positive nine-month results as the consistent implementation of the investment programme has led to increased installed capacity, and the wind performance data were favorable.

According to the financial results of the EL.TECH. Anemos Group of companies for the nine month period of 2018, the consolidated turnover showed a 21.4 pct increase, amounting to 42.7 million euros, compared to 35.2 million euros in the respective period of 2017. Consolidated EBITDA amounted to 33.0 million euros, compared to 25.3 million for the respective nine-month period of 2017, increased by 30.7 pct, while EBIT increased by 35.8 pct to 23.0 million from 16.9 million euros for the respective period of 2017. Net profit attributable to parent company shareholders amounted to 10.4 million euros, increased by 52.8 pct, and net profit per share amounted to 0.1254 euro, compared to 0.0821 in the first nine-month period of 2017.

Consolidated net debt marginally increased to 186.4 million euros, compared to 172.3 million on 31.12.2017, the company’s investment programme for the period 2018-2020 is fully underway. In reference to the parent company, the total turnover amounted to 36.5 million euros, compared to 34.1 million in the same nine-month period of 2017. EBITDA amounted to 27.5 million, compared to 26.7 million for the corresponding period of 2017, while EBIT amounted to 19.5 million, compared to 18.6 million for the corresponding period of 2017. Profits after tax (net profits) slightly decreased (8.9 million from 9.0 million) and net profit per share amounted to 0.1082 euro, compared to 0.1089 for the corresponding period of 2017.

Τotal installed capacity of the EL.TECH. Anemos Group of companies on September 30, 2018 was 289.10 MW, comprising of 18 wind farms of 282.15 MW, one small hydroelectric project of 4.95 MW and one photovoltaic project of 2.00 MWp.