Global solar power solutions provider Photon Energy publishedits report for 2017Q3 on 6 November 2017. Building on the stronghalf-year results, the company confirmed continuing revenue growthat 6.8% compared to 2016Q3 and a 2,5-fold increase in net profitcompared to last year’s result.
This dynamic confirms Photon Energy’s effective strategy forreturning to profitability based on strict cost management andcontinuing growth in recurring revenue streams from electricityproduction and the O&M business as well as its tradingactivities.
Photon Energy published its report for 2017Q3 on 6 November2017. Coming off a strong first half, the company delivered an evenmore robust performance in the third quarter. According to thereport, the company increased its consolidated revenues by 6.8%compared to 2016Q3 up to EUR 4.91 million, driving EBITDA to anall-time-high of EUR 3.14 million, representing a 14.5% growth fromlast year.
During the first three quarters of 2017 Photon Energy’scontinuing improvement is crystallizing in the form of a bottomline YoY turnaround from a net loss after taxation of EUR 0.87million to a profit after taxation of EUR 0.70 million. At thepre-tax level the company swung from a EUR 0.91 million loss to aprofit of EUR 1.34 million. Consolidated revenues increased by16.5% to EUR 12.94 million while EBITDA rose 17.8% to EUR 7.33million and EBIT improved by 53.6% to EUR 2.72 million.
During 2017Q3, Photon Energy continued its extensive Australiandevelopment effort on a large-scale project pipeline exceeding1,400 MWp and managed to obtain development approval for the 28.6MWp project in Leeton, New South Wales. At the same time theproject pipeline in Hungary grew to 11.3 MWp with the target ofadding 50 MWp to the company’s proprietary portfolio in Hungary byyear-end 2019 intact. The Group’s solid revenue growth is atestament to the good performance of its proprietary power plantportfolio, continued growth in the O&M segment and improvingactivity levels in other business lines. Strict cost management hasensured that higher revenues have fed through to the bottomline.
“Our 2017Q3 results confirm our trajectory of continuingrevenue growth and towards a return to profitability. Progress inour project development efforts in Australia and Hungary andincremental growth in our O&M business set the stage for astrong 2018, in which we plan to expand our proprietary portfolioin both markets and to increase our recurring revenue streams fromelectricity production and O&M services. At the same time wesee growing potential for our EPC and PV component trading businesslines,” commented Georg Hotar, CEO of Photon Energy NV.
On 13 November 2017 starting at 11.00 CEWT Georg Hotar, CEO ofPhoton Energy, will answer questions from investors in a Q&Asession to be webcast live in Polish and English on www.sii.org.pl.
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Anastasia Hotar
T +420 775 861 732
E anastasia.hotar@photonenergy.com