According
to the financial statements of
31/12/2012
, which were prepared in accordance with the International Financial
Reporting Standards, the 2012 annual results of TERNA ENERGY are as follows:
Consolidated
sales amounted to
124
mil euro compared to
76.1
mil euro during 20
11
, posting a
62.9% increase, mainly due to increased
income from the
C
ompany’s
energy
activities
as a result of the larger installed capacity
compared to the previous year both in
Greece
and abroad.
Income
from the energy sector amounted to
79.6 mil euro
compared to 46.4
mil euro
in 20
11
, posting
a
71.2% increase
.
Sales of the Company’s
construction sector towards third parties amounted to
44.4 mil euro compared to 29.6 mil
euro the previous year, posting a 49.6% increase.
Earnings
before interest tax depreciation and amortization
(
EBITDA
)
amounted
to
53 mil euro compared to 32.8 mil euro in 2011, thus increased by 61.5%. Earnings before interest and tax
(ΕΒΙΤ
)
amounted to
34.8 mil euro, increased by 48% compared to 23.5
mil euro during 2011. Correspondingly,
earnings before tax amounted to 19.3 mil euro versus 20.4 mil
euro in 2011, thus posting a 5% decrease, due to increased net financial
expenses during 2012. Net earnings after minority interest, amounted to 14.4
mil euro compared to 15.1 mil euro the previous year, thus decreased by
5%.
The Group’s investments during 2012
amounted to
216.5
mil euro, as the investment plan in
Renewable Energy Sources is underway.
Cash flows from operating
activities before changes in working capital amounted to
53.2 mil euro compared to 34.4 mil euro the previous period. It is noted
that the Group’s net debt position (cash & cash equivalents minus bank
debt) settled at 295.7 mil euro,
decreased by 12 mil euro compared to the 9M of 2012, while it is expected to
decrease further during the first quarter of 2013, as recently a USD 77 mil
grant was received, following the timely completion of the company’s project
(138 MW) in the USA. Moreover, it is worth noting that TERNA ENERGY has
proceeded with 151.2 mil euro in capital expenditure for projects whose
construction is underway and which are not yet operational.
The Group’s total installed
capacity amounts to 508 MW, as recently the installation of yet another wind
park of the company in
Poland
,
with a capacity of 10MW, was completed. Moreover, The Group has 266 MW
installed in
Greece
,
138 MW in the
USA
,
74 MW in
Poland
and 30 MW in
Bulgaria
.
At the same time, the Group has RES installations currently under construction
or ready for construction with a capacity of 245 MW in
Greece
and
abroad.
Overall, the
Company operates, is constructing or has full licensing of 753 MW of RES
installations in the
Europe
and
America
.
The Company is targeting to reach almost 1,000 MW in RES projects in operation
or under construction in all countries it operates by the end of 2014.
Also,
the Company has production licenses for additional
1
,660
MW
of wind parks, while it has production licenses for 783 MW hydroelectric
projects.