Photon Energy has published its quarterly report for Q22014.
Financial highlights include increased revenues, increasedEBITDA, a significantly reduced EBIT and a solid equity ratio. InQ2 Photon Energy also exceeded the threshold of 100 MWp in terms ofproviding O&M services.
Financial highlights:
Revenues slightly increased to EUR 4.537 million, up by3.3% YOY;
EBITDA increased from EUR 2.524 million to EUR 2.566 million, up by1.7% YOY (EUR 2.818 million without the levy);
EBIT significantly improved from EUR 0.904 million to EUR1.029 million, up by 13.8% (EUR 1.282 million without the 10%levy);
Loss before taxation increased to EUR 0.608 million compared to aloss before taxation of EUR 0.091 million in Q2 2013; a totalcomprehensive loss of EUR 0.308 million was booked compared to atotal comprehensive profit of EUR 0.058 million in Q2 2013;
Equity declined from EUR 34.847 million in Q2 2013 to EUR 24.035million in Q2 2014, down by 31% YOY;
The equity ratio still remained a solid 30%;
Other highlights:
Photon Energy Operations exceeded the threshold of 100 MWp interms of providing O&M services; 10 MWp of PV capacities wasadded in Q2 and 5.5 MWp after the reporting period,
The credit financing facilities on the Czech and Slovak powerplants were increased after the reporting date, injecting anadditional EUR 4.356 million into the long term liabilities,
Photon Energy N.V. completed the merger with its fully-ownedsubsidiary Photon Energy Investments N.V., which has been executedas of the date of this report.
The proprietary portfolio generated approximately 10.25 MWh ofelectricity; 3.5% below the energy audits,
Italy’s government proposed retroactive regulatory changes, whichwill negatively impact the profitability of exisiting Italian PVpower plants.
Download the report here.
Other reports can be found on the "reports" page of our Investor Relationssection.
