El. Tech.Anemos

New wind turbine connections to grid rise by 7.2% in 2018

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A total of 103 new wind turbine facilities with a combined capacity of 191.6 MW were connected to the country’s grid in 2018, a 7.2 percent year-on-year increase, the ELETAEN figures showed, according to latest data released by ELETAEN, the Greek Wind Energy Association.

EREN, the renewable energy group founded and headed by Greek-French entrepreneur Paris Mouratoglou, has emerged as a new entry in Greece’s top-five list of RES investors with investments offering a total capacity of 210.9 MW, a 7.5 percent market share.

EREN, which recently established a strategic agreement with Total, is now ranked fifth, replacing Enel Green Power, which has dropped to sixth place.

The top-five list’s four other enterprises held their places. Terna Energy leads with 536.1 MW, a 19 percent share; El. Tech Anemos is ranked second with 285.6 MW (10.1%), Iberdrola Rokas is third with 250.7 MW (8.9%); and EDF EN Hellas is placed fourth with 238.2 MW (8.4%)., according to the ELETAEN data.

CF Ventus, a venture of the Fortress Fund, has emerged as Greece’s new RES market arrival following its acquisition of wind energy parks from the Libra group. CF Ventus is continuing to invest in the sector.

Facilities at old wind energy parks with a total capacity of 15.43 MW operated by PPC Renewables, primarily in Crete and the North Aegean, were uninstalled in 2018.  Work on their replacements has already begun.

Vestas continued to dominate Greece’s wind turbine supply market, providing an impressive 78.2 percent of all turbines installed in 2018.

As for the spatial distribution of wind capacity in Greece, the central mainland continues to be ranked first with 907 MW (32%) and is followed by the Peloponnese with 550 MW (19%) and eastern Macedonia-Thrace with 375 MW (13%).

 

Ellaktor’s absorption of El. Tech. Anemos heralds renewable energy role of group

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The Ellaktor group’s absorption of listed wind energy subsidiary El. Tech. Anemos, a move announced last Friday, signifies the major role to be played by the corporate group in renewable energy production, its new administration has noted.

The brothers Anastasios and Dimitris Kallitsantsis, who took over the corporate group’s helm last July following a tumultuous battle between the group’s major shareholders, had committed themselves, as a key stategy, to not selling El. Tech. Anemos. The duo expressed a preference to keep, as a group member, the wind energy firm, significantly contributing to the group’s results and reinforcement.

Ellaktor’s absorption of El. Tech. Anemos will enable the wind energy firm to further multiply benefits it previously offered to the group as a separate entity, the group’s new administration believes.

On the contrary, had El. Tech. Anemos been sold, as the group’s previous administration had wished, Ellaktor would have secured a one-off cash injection.

With El. Tech. Anemos still on board, the Ellaktor group has held on to a company asset that is displaying constant growth and producing rising profit levels.

The arrangement’s overall cash inflow benefits, as well as prospective synergies, are expected to offer the group major economies of scale as well as financing and tax savings, all of which stand to favorably impact the group’s financial results.

EL.TECH. ANEMOS reports 84.6% net profit increase

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EL.TECH. ANEMOS group of companies reported considerable enhanced financial results for the first quarter of 2018, due to increased installed capacity and higher wind performance data, the company has announced in a statement.

Based on the financial results of Q1 2018, in accordance with the International Financial Reporting Standards (IFRS), the group reported, amongst others, increased turnover, EBITDA, EBIT and net profit compared to the corresponding quarter of 2017.

The consolidated turnover for the first 3-month period of 2018 increased by 28.3%, amounting to 17.6 million euors compared to 13.7 million euros for the corresponding period of 2017. Consequently, EBITDA amounted to 13.9 million euros, compared to 10.0 million euros for Q1 2017, a 37.5% increase, while EBIT increased by 48.6%, amounting to Euro 10.8 million, compared to Euro 7.3 million during the comparable period of 2017.

Consolidated profit after tax (net profit) for Q1 2018 amounted to 6  million euros, compared to 3.3 million euros during the corresponding period of 2017, an 84.6% increase, while consolidated net profit per share amounted to 0.0710 euros compared to 0.0373 euros for the first 3-month period of 2017, representing a 90.3%  increase.

As for the parent company, the total turnover amounted to 15.6 million euros, compared to 12.9 million euros in the equivalent 3-month period of 2017. EBITDA amounted to 12.3 million euros, compared to 11.3 million euros in Q1 2017, while EBIT amounted to 9.6 million euros, compared to 8.6 million euros for the first 3 months of 2017. Profits after tax (net profits) amounted to 5.4 million euros, compared to 4.8 million euros, and net profit per share amounted to 0.0653 euros, compared to 0.0582 for Q1 2017.

The EL.TECH. ANEMOS Group of companies currently operates 16 wind farms of 253.35 MW, one small hydroelectric project of 4.95 MW and one photovoltaic project of 2.00 MWp. Facilities with a total installed capacity of 168.20 MW are under construction.

 

El.Tech.Anemos turnover up 7.1% for 9-month period

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El. Tech.Anemos, a member of the Ellaktor group, has posted a consolidated turnover amount of 35.22 million euros for the nine-month period, up 7.1 percent compared to the equivalent period in 2016, despite a low-wind performance. The gain was propelled by an increased installed capacity.

Accordingly, consolidated EBITDA amounted to 25.29 million euros, compared to 23.47 million euros for the nine-month period of 2016, a 7.8 percent increase. EBIT increased by 4.3 percent to 16.92 million euros from 16.23 million euros for the same period of 2016.

Consolidated net profit decreased to 6.93 million euros from 8.01 million euros during the nine-month period of 2016, as financial expenses increased mainly due to the capitalization end of financial expenses concerning the Lyrkeio wind farm, which became operational in December 2016.

Consolidated net profit per share amounted to 0.0821 euros compared to 0.0925 euros for the nine-month period of 2016.

Consolidated net  debt  (total  loans  minus  cash  and  cash  equivalents,  restricted  cash, and financial assets held to maturity)  increased to 160.27 million euros compared to 124.04 million  euros December 31, 2016,  as  a result of the full progress of the group’s  new  investment  program.

As for the parent company, its total turnover amounted to 34.10 million euros, compared to 30.83 million euros in the same nine-month period of 2016.

EBITDA reached 26.65 million euros, compared to 21.96 million in the corresponding period of 2016, while EBIT amounted to 18.59 million euros, compared to 15.15 million euros for the nine-month period of 2016.

Profit after tax (net profit) amounted to 9.00 million euros from 7.36 million euros in

the corresponding  period  of  2016,  and  net  profit  per  share  amounted  to 0.1089 euros compared to 0.0892 euros for the same nine-month period of 2016.

At present, the total installed capacity of El. Tech.Anemos group of companies stands at 260.30 MW and is comprised of sixteen wind parks totaling 253.35 MW, one small hydroelectric project of 4.95 MW and one photovoltaic project of 2.00 MWp. Most recently, the company developed two wind parks – Kalogerovouni (17.1 MW) in the Monemvasia area (southeast Peloponnese) and boosted capacity (2.35 MW) at its Agia Dynati wind farm on the Ionian island Kefalonia.

An investment program announced in July, 2014 has been completed, while the implementation of the corporate group’s new investment program, comprised of wind park projects with a total installed capacity of 127.6 MW, is underway. It is expected to be completed by the end of 2018.

In addition,  projects  of  a  total  installed  capacity  of  636  MW  are  at  various  stages  of  the licensing process, 113 MW of which face environmental criteria approval.