Consolidated sales at renewable energy sources company Terna Energy increased to 104.1 million euros for the nine-month period in 2014, up from 102.6 million euros for the equivalent period last year, a 1.5 percent increase, the company announced.
Also for the nine-month period, the company’s revenues figure reached 76.8 million euros, down 2.2 percent from 78.5 million euros for the equivalent period last year.
In a noteworthy company development, facilities with an additional capacity of 120 MW began operating gradually during the ten-month period of 2014, increasing Terna Energy’s total installed capacity to 628 MW. The company expects to begin benefitting from this capacity increase over the next three months.
The company’s sales at its construction division – for third parties – reached 27.3 million euros in the nine-month period from 24.1 million euros during the equivalent period last year.
Terna Energy’s EBITDA (earnings before interest, tax, depreciation and amortization) figure reached 48.2 million euros for the nine-month period in 2014 from 52.9 million euros last year, an 8.8 percent decline. This was attributed to lower wind-farm production and more modest financial results achieved by the company’s construction division.
Pretax profit for the nine-month period amounted to 5.5 million euros from 14.4 million euros during the equivalent period last year.
Net profit reached 3.2 million euros, a sharp 66.5 percent drop from last year’s 9.6 million euros.
The group’s total installed capacity of 628 MW is made up of 386 MW in Greece, 138 MW in the USA, 74 MW in Poland, and 30 MW in Bulgaria.
The company’s objective is to reach a total installed RES capacity of 1,000 MW within the next few years.
Founded in 1997, Terna Energy began exploring RES markets beyond Greece in 2004, beginning in the Balkans.