Amsterdam, 17 February 2014 – Photon Energy has published itsquarterly report for Q4 2013, which saw a turning point in thecompany’s development with a new strategy implemented and newcontracts signed in Australia. Photon Energy is set for morepositive stories in 2014 in line with the group’s intention ofmoving away from state-run subsidy programmes and towards sellingelectricity directly to commercial customers. Financially Q4 2013can be considered a success with a 17% YOY increase in consolidatedrevenues.
Global solar power solutions provider Photon Energy NV haspublished its quarterly report for Q4 2013, in which the companyannounced a new strategy to lead photovoltaics away fromgovernment-run support schemes and towards competitive energysolutions for commercial customers. December 2013 saw the launch ofPhoton Energy Generation Australia (PEGA) with innovative,standardised financing solutions for solar power plants. Only daysafter PEGA was launched, the company signed its first contracts inAustralia.
“We are currently negotiating new potential contracts fromour growing pipeline of customers in Australia”, saysGeorg Hotar, CEO of Photon Energy. “We believewe have unlocked the Australian commercial PV market and arelooking forward to making our mark Down Under in 2014”, Hotarcomments.
In Q4 2013 the company posted positive production results fromthe group’s power plants. The accumulated average performanceamounted to nearly 3.6 GWh of sustainable energy, exceedingforecasts by an average of nearly 24%. „The positiveresults in power production are based on improved weatherconditions as well as the fantastic job of our Operations &Maintenance division, which makes sure that our power plants run atan average uptime of 99 per cent“ said CEO GeorgHotar.
Financially Q4 2013 can be considered a success with a 17% YOYincrease in consolidated revenues to EUR 2.678 million, mostlythrough the sale of 3.6 GWh of PV-generated electricity. Theincrease predominantly derived from energy production coming in at24% above plan.
“The strongest signal for our company’s rebound can beobserved at the EBITDA level in Q4 over the past three years”,explains CEO Georg Hotar. “After an EBITDAloss of EUR 2.667 million in Q4 2011, the deficit could be reducedto EUR 0.299 million in Q4 2012 while we swung to a positive EBITDAof EUR 1.12 million in Q4 2013. If adjusting for the reduction inthe Solar levy from 26% of revenues of our Czech PV plants to 10%EBITDA for the period would have even reached EUR 1.28million”, Hotar continues.
„The full-year financial results equally point towards astrong rebound of our fortunes despite a 11-12% YOY decline in theperformance of our portfolio of PV plants in our core markets CzechRepublic and Slovakia, which also contributed to the 14.2% declinein revenues to EUR 13.876 million in 2013. Nevertheless, we turneda full-year EBITDA loss of EUR 0.309 million in 2012 into EBITDA of3.314 million in 2013. With a 10% Solar levy 2013 EBITDA would haveeven reached some EUR 4.5 million”, CEO GeorgHotar explains further.
“All in all we are well placed for a successful 2014, whichwas underlined not only by new O&M contracts already signed inJanuary 2014, but also in the report by renowned German ResearchHouse Dr. Kalliwoda Research, which described Photon Energy as anattractive opportunity for investors with a long-term view towardsone of the fastest growing industries over the next fewdecades”, Hotar concludes.
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MEDIA CONTACT
Jan Krcmar
T +420 773 032 182
E jan.krcmar@photonenergy.com
ABOUT PHOTON ENERGY
Photon Energy NV is a global solar power solutions and servicescompany with six divisions of expertise that together cover theentire lifecycle of solar power systems. The company serves theneeds of clients with extensive know-how in project development,investment management, project finance, insurance, technologysolutions, EPC and O&M. Photon Energy is headquartered inAmsterdam, Netherlands and has offices in Germany, Australia, CzechRepublic, Slovakia and Italy. For more information please visitwww.photonenergy.com.
