Photon Energy with improved results and positive EBIT in 2015

Photon Energy NV published preliminary unaudited figures for2015 in its report for 2015 Q4. The last year saw strongimprovements across the board and the company swung to a positiveEBIT. Photon Energy can look back on the construction of new powerplants, strong growth in O&M contracts and outstanding energyproduction results from its PV power plants.

Global solar power solutions provider Photon Energy NV on 12February 2016 announced its results for 2015 Q4 and unauditedfigures for the full year 2015. „We are proud to announce that weachieved our financial objectives for the year by returning torevenue growth and generating a positive EBIT in 2015," saidPhoton Energy CEO Georg Hotar. “In short, we saw the strategicmeasures adopted in the company during the two past years beginningto pay off in 2015," said Georg Hotar. 

The company’s FY 2015 revenues increased 14.4% to EUR 13.452million, while EBITDA rose 70.2% to EUR 5.951 million. FY 2015 EBITswung from a EUR 0.924 million loss to a positive EUR 0.753million. In 2015 Photon Energy also significantly reduced its lossbefore taxation from EUR 5.034 million in 2014 to EUR 1.787 millionin 2015, which represents a EUR 3.247 million improvement YOY.

The financial figures are mirrored by a strong business year.Photon Energy can look back on outstanding production of its powerplants in 2015, which came in approximately 5.5% above expectationsfor the whole year (+6.3% YoY). In Australia three power plantswere commissioned or under construction. At the same time thegroup’s Operations & Maintenance division signed new contractsworth 35.1 MWp and expanded its activities to Romania in2015. 

In the last quarter of 2015, the company saw improvement in allindicators: consolidated revenues increased 80% to EUR 2.684million, consolidated EBITDA amounted to EUR 0.110 million,compared to a EUR 1.568 million loss in 2014, and the companymanaged to decrease its EBIT loss by 65.3% from EUR 2.238 millionto EUR 0.777 million. Photon Energy recorded a loss before taxationof EUR 1.465 million, compared to a EUR 2.355 million loss for thesame period  in 2014, and eventually, a net loss of EUR 1.840million, up from a loss of EUR 2.301 million in the same period2014. 

Download this press release (pdf).

Download the quarterly report here (pdf).

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