Photon Energy reports increased revenues and EBIT in 2015

Photon Energy NV published its annual report for 2015, whichsaw the best results since its incorporation five years ago. PhotonEnergy returned to revenue growth and dramatically turned aroundits EBIT to a positive EUR 1.113 Mio. The improved results come onthe back of new power plants, expanded Operations & Maintenanceservices and excellent solar power production results. With themomentum carrying over into the new year Photon Energy looksconfidently on 2016 and beyond. CEO Georg Hotar will discuss theresults with investors in an online-chat on 28 April 2016.

Photon Energy NV has published its annual report and auditedfigures for 2015. A strong business year with new contracts inAustralia and Europe resulted in greatly improved financialfigures.

“In 2015 we succeeded in reigniting revenue growth,optimising our cost base across all business lines while theresulting EBITDA rose 75.8% to EUR 6.145 million and EBIT swungfrom a EUR -0.924 million loss to a positive EUR 1.113million”, comments CEO Georg Hotar. “Thatgrowth carried through to the bottom line, where we managed toreduce our loss after taxation by two thirds”, Hotar adds.

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% aboveexpectations. The group’s O&M division substantially increasedits customer base by adding more than 35 MWp of new contracts forfull-service O&M and expanding to Romania. New contracts werealso added at the start of 2016. As a result Photon Energy iscurrently servicing more than 150 MWp of PV power plants acrossEurope and Australia. In Australia three power plants werecommissioned or commenced construction in 2015, taking the totalinstalled base of Photon Energy in Australia beyond the 1 MWpmark. 

“In 2016 we expect continued growth in our O&M businessas we further expand our services,” CEO GeorgHotar looks confidently to the future. “We see hugeopportunities in Europe, where the ownership of PV power plants isless fragmented, which in turn enhances the conditions for oursubsidiary Photon Energy Operations. When current O&M clientsacquire new PV plants chances are high that – based on their goodexperience – they entrust us with their newly-acquired PV powerplants. In this respect, we have developed a healthy pipeline ofprojects, looking better than it ever has,” Hotaradds. 

While Photon Energy is constantly examining new marketsworldwide, the focus for new PV projects in 2016 will still beAustralia. “Down Under we will continue installing medium-scalerooftop installations for commercial clients, while at the sametime developing multi-MWp projects, which promise more materialrevenues”, Hotar concludes. Photon Energy is pushing thedevelopment of off-grid solutions, which will not only includehybrid power plants, but solutions directly coupled with off-gridapplications, such as solar-powered water pumping andfiltration.

On 28 April 2016 Photon Energy is holding anonline-chat in cooperation with the Polish retailinvestors association SII. Investors and interested parties will beable to submit questions to the moderators at www.sii.org.pl, wherethe chat will be webcast live at 11:00 a.m.

SELECTED FINANCIAL INFORMATION

You can download the Annual Report here.

All other reports can be found on the "Reports"-page of our Investor Relationssection. 

Download this press release (pdf).