Terna Energy posts 9.8% sales increase in first quarter

Consolidated sales at Terna Energy for the first quarter of 2016 amounted to 50.4 million euros compared to 45.9 million euros during the equivalent period last year, a 9.8 percent increase, the company has announced.

Income from the electricity production sector amounted to 39 million euros compared to 37.5 million euro in the same period of 2015, a four percent increase.

Sales of the electricity energy trading division amounted to 7.3 million euros, while sales of the company’s construction division for third parties amounted to 3.8 million euros, up from 2.3 million euro in the first quarter of 2015, the company announced.

Total EBITDA amounted to 30.5 million euros compared to 29.2 million euros in the first quarter of 2015, a 4.4 percent rise. Total ΕΒΙΤ amounted to 20.8 million euros compared to 19.7 million euros, a 5.5 percent increase. Earnings before taxes reached 10 million euros from 15.3 million euros in the first quarter of 2015, a 34.6 percent rise. Net earnings after minority interest amounted to 7 million euros compared to 12.2 million euros in the first quarter last year, a 42.6 percent drop, due to the negative effect from foreign exchange differences which was positive by 3.4 million euros in the first quarter of 2015 and negative by 0.9 million euros in the first quarter of 2016.

The Group’s net debt position (bank debt minus cash & cash equivalents) in the first quarter of 2016 amounted to 337 million euro compared to 319 million euro at the end of 2015.

The Group’s total installed capacity is 664 MW. It possesses total installations of 394 MW in Greece, 138 MW in the USA, 102 MW in Poland and 30 MW in Bulgaria.

In addition, the Group has RES installations currently under construction or ready for construction with a capacity of 273 MW, in Greece and abroad.

Overall, the company operates, is constructing or has full licensing of 937 MW of RES installations in Europe and America. The company is aiming to reach almost 1,000 MW of RES projects over the next few years in all countries where it is active.