Photon Energy improves quarterly EBIT for fifth time in a row

Photon Energy NV (PEN) released its reportfor 2016 Q3, which saw improved EBIT (YOY) for the fifth time in arow and a 6.8% increase in revenues. The company, which recentlyentered the Prague Stock Exchange in a dual listing, strengthenedits portfolio of power plants in Europe. In the third quarterPhoton Energy also signed its biggest contract for operations andmaintenance of power plants so far.

Photon Energy published its report for2016 Q3 on 7 November 2016. “We announced last quarter, thatPhoton Energy was in the best shape yet, and now we have furtherimproved on this by continuing our improving streak to fivequarters of YOY-EBIT growth in a row”, remarks PhotonEnergy CEO Georg Hotar.

Consolidated revenues increased by 6.8% YOYto EUR 4.59 million, leading to an increased EBITDA, which improved5.6% to EUR 2.74 million. EBIT grew by 8.5% to EUR 0.9 million andPhoton Energy recorded a profit before taxation of EUR 0.21 million(compared to a EUR 0.19 million loss for the same period lastyear).

„We are already seeing the directresults of strengthening our portfolio in Slovakia, with higherrevenues from the sale of electricity”, explains CEOGeorg Hotar. In 2016 Q3 Photon Energy acquired theremaining 30% equity interest from its local JV partner in itsSlovak portfolio PV power plant in Blatná, with an installedcapacity of 700 kWp. Earlier this year Photon Energy acquired theremaining 40% equity interest in another Slovak PV power plant withan installed capacity of 999 KWp.

Photon Energy Operations, the group’ssubsidiary which provides operations, maintenance and monitoring ofsolar power plants, also grew its customer base substantially bysigning its biggest single contract with one of the leading Czechpower producers Energy 21 for 28.5 MWp. Photon Energy also addedthe Czech Republic’s largest solar power plant to its list ofcustomers: the 54 MWp power plant in Ralsko, owned by Czech energygiant CEZ, now uses Photon Energy’s String Monitoring Unittechnology.

In October, after reporting period, PhotonEnergy listed its shares on the Prague Stock Exchange in a duallisting (additionally to the Warsaw Stock Exchange). “Theinvestors’ interest in our shares proved that we made the rightdecision, given the volume and price movement in the first daysafter the listing. We are glad that investors have confidence inour strategy and execution”, concluded CEO GeorgHotar. 

MEDIA CONTACT

Jan Krcmar
T   +420 773 032 182
E  jan.krcmar@photonenergy.com

Download as pdf.

Download the quarterly report here (pdf).

All our reports can be found on the Reports page in our Investor Relationssection.