Photon Energy NV has published its reportfor 2017 Q2 with unaudited half-year figures. Photon Energy sawimprovements across all business lines and recorded the highesthalf-year revenues in its history, which carried through to thestrongest HY EBIT and highest HY profit before taxation, leading toa swing into profit after taxation.
“The last quarter was another milestonein Photon Energy’s history, being the one of the best quarters inPhoton Energy NV’s history and rounding off a solid first half of2017. We have delivered significant improvements year-on-year,including a profit after taxation, and we are now harvesting thefruits of hard work and of the important steps we undertook interms of financing, restructuring and business orientation over thepast years”, commented Photon Energy CEO GeorgHotar.
Photon Energy’s half-year revenuesincreased 23.3% to EUR 8.031 million, while EBITDA rose 20.5% toEUR 4.193 million and EBIT was up 71.8% to EUR 1.487 million.Photon Energy also managed to turn around its loss before taxationfrom EUR 1.119 million in 2016H1 to a profit of EUR 0.456 millionin 2017H1. This resulted in a EUR 0.082 million positive netresult, compared to the EUR 1.044 million loss during the sameperiod a year earlier.
On a quarterly basis consolidated revenuesincreased by 15.8% YOY to EUR 5.245 million. EBITDA increased by11.9% to EUR 3.119 million and EBIT grew by 26.6% to EUR 1.223million. Photon Energy recorded a profit after taxation of EUR0.394 million in 2017Q2, compared to EUR 0.347 million for the sameperiod last year (+13.5% YOY).
The positive figures for the first halfyear are mirrored by operational progress in the first six monthsof 2017. Photon Energy entered the Hungarian PV market, where itaims to build solar power plants for its proprietary portfolio andexternal clients. In Australia important progress has been made onthe development of large-scale solar power projects. Photon Energyalso initiated the refinancing of its corporate EUR bond 2013/2018by mandating Munich-based Dero Bank AG to act as advisor and leadmanager.
“We have big plans for the upcomingquarters, in particular for adding power plants in Australia andHungary to our proprietary portfolio. We are convinced that ourcontinued improvements send a clear signal to current and potentialinvestors, that we are in a sound and strong position to realisethose ambitious plans”, CEO Georg Hotarconcluded.
Jan Krcmar
T +420 773 032 182
E jan.krcmar@photonenergy.com
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