Photon Energy (PEN) released its report for2017 Q1, the strongest opening quarter in its history. Year-on-yearrevenue growth of 40.5% and 55.3% EBITDA growth paved the way tothe first ever positive Q1-EBIT. Photon Energy’s progress inproject development in Australia and its market entry in Hungaryset the stage for the company’s strong growth in the yearsahead.
Global solar power solutions providerPhoton Energy published its report for 2017 Q1 on 9 May 2017.Strong electricity generation, continued growth in O&Mcontracts and tight cost control resulted in the sixth consecutivequarter of YOY-EBIT improvements and a solid start into 2017.
Consolidated revenues increased by 40.5%YOY to EUR 2.786 million, leading to an EBITDA improvement of 55.3%to EUR 1.073 million. Photon Energy recorded the first positive Q1EBIT in its history at EUR 0.264 million compared to an EBIT lossof EUR -0.101 million in the same period last year. The companysignificantly reduced the loss before taxation to EUR -0.219million (from a EUR -1.318 million loss for the same period lastyear). Total comprehensive loss contracted by 92.1% YOY to EUR-0.131 million from EUR -1.669 million in 2016 Q1.
“We are entering 2017 very confidentlyas our project development efforts are progressing well, both inAustralia, where utility-scale solar projects have finally becomeviable without investment support, and in our new market Hungary.Both markets will allow us to expand our power plant portfolio andto substantially grow our EPC and O&M servicesbusinesses”, explains CEO Georg Hotar.
„We have over the past years developedour know-how and technology in several crucial parts of the solarindustry value chain. Through our Cardio subsidiary we have becomeprime experts in inverter maintenance, our Control subsidiary hassuccessfully developed a state-of-the-art monitoring and controlsystem for solar plants and other infrastructure while ourPV-hybrid system capabilities have a proven track record allowingus to address the globally exploding off-grid market”, Hotarcontinued.
“As our business model and strategy will continue bearingmore and more fruits in the quarters ahead we are confident thatour efforts will be accordingly reflected in both the equity anddebt capital markets, facilitating the execution of our ambitiousplans”, concluded CEO Georg Hotar.
MEDIA CONTACT
Jan Krcmar
T +420 773 032 182
E jan.krcmar@photonenergy.com
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