According to the financial
statements of
31/03/2014
,
which were prepared in accordance with the International Financial Reporting
Standards, the results for the 1st quarter of 2014 of TERNA ENERGY
are as follows:
Consolidated
sales
amounted
to
35.5
million euro compared to
35
million euro
during the
1st quarter of 2013, increased by 1.6%.
Income from the energy
sector amounted to 28.8
million
euro compared to
28.4
million
euro
during the first quarter of 2013, increased by 1.5%.
It is noted that although the installed capacity in the first quarter 2014 was
higher than the one in the corresponding period of 2013, the wind performance data
settled at lower levels during the first quarter of the current year. It is also
worth noting that within the first five months of 2014, the gradual operation
of 72 MW was implemented, bringing the total installed capacity of the Group to
580 MW.
Sales of the Company’s
construction division for third parties amounted to 6.8 million euro versus 6.6
million euro
during the
first quarter of 2013.
Earnings before interest,
tax, depreciation and amortization
(
EBITDA
)
amounted to 18.9 million euro
compared to 20.4 million euro in the corresponding period of the previous year,
decreased by 5.6%, due to the lower wind performance data in the first quarter
of the current year. Earnings before interest and tax (ΕΒΙΤ
) amounted to 11.5 million euro versus 13.3 million
euro, thus decreased by 10.4%, as they were significantly affected by the above
lower wind performance data. Earnings before taxes amounted to 5.1 million euro
versus 7.8 million euro in the corresponding period of the previous year, decreased
by 34.1%. Net earnings after minority interest, amounted to 3.6 million euro
versus 5.5 million euro in the same period last year, posting a decrease of 37.5%.
Cash flows from operating
activities before changes in working capital amounted to 18.9 million euro
compared to 20.5 million euro in the first quarter of the previous year. The
Group’s net debt position (bank debt minus cash & cash equivalents)
amounted to 257.3 million euro, while the Group’s investments during the first
quarter of the current year amounted to 18 million euro, as the investment plan
in Renewable Energy Sources is proceeding.
Moreover, it is worth
noting that TERNA ENERGY has proceeded with investment expenditures of 130
million euro for projects whose construction is underway and which are not yet
operational.
The Group’s total installed
capacity amounts to 580 MW. The Group has 338 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 285 MW, in
Greece
and
abroad.
Overall, the Company
operates, is constructing or has full licensing of 865 MW of RES installations
in Europe and
America
.
The Company is targeting to reach almost 1,000 MW of 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 1,630 MW of wind parks and 748 MW of hydroelectric
projects.