Photon Energy continues positive trend in 2016 Q2

Photon Energy NV released its report for2016 Q2, in which the company continued its positive trend offinancial and operational improvements. Building on an alreadystrong first quarter Photon Energy signed new contracts andstrengthened its portfolio in Central Europe. The momentum carriedon after the reporting period, when Photon Energy signed itsbiggest O&M deal so far. Financially Photon Energy grew itsEBITDA by 5.4% YOY and EBIT increased by 9.2% YOY, resulting in aprofit before taxation of EUR 0.199 million.

Global solar power solutions providerPhoton Energy NV published its report for 2016 Q2 on 8 August 2016.“We have completed a solid second quarter and first half of2016 and are continuing on the positive trend seen in 2015”,comments Photon Energy CEO Georg Hotar.“Today, Photon Energy is in the best shape for several years,after a lot of steps were undertaken in terms of financing,restructuring and business orientation”, Hotar explains.

Consolidated revenues increased by 5.4% YOYto EUR 4.530 million, leading to an increased EBITDA, which grew5.4% to EUR 2.788 million. EBIT grew by 9.2% to EUR 0.966 millionand Photon Energy recorded a profit before taxation of EUR 0.199million (down from EUR 1.552 million profit for the same periodlast year). “Lower bottom line results in the second quarter of2016, compared with the same period of 2015, are attributable inpart to a largely positive adjustment in the revaluation ofderivatives last year, as well as to the release of an allowancealso recorded in 2015 Q2”, explains CEO Georg Hotar.

In 2016 Q2 Photon Energy strengthened itsportfolio by acquiring the remaining 40% equity interest from itslocal JV partner in its Slovak portfolio PV power plant in Prša,with an installed capacity of 999 kWp. Photon Energy also remainedfocused on further expanding its Operations and Maintenancebusiness in Europe.  After the reporting period, thesubsidiary Photon Energy Operations signed its biggest singlefull-O&M contract yet, for 28.5 MWp, with one of the leadingCzech independent power producers. “In the Czech Republic alonewe now have almost 100 MWp in our O&M portfolio. The newcontract underlines our ambitions to be the market leader in theCzech Republic and other markets. Photon Energy now providesO&M and monitoring services for more than 180 MWp in ninecountries”, Hotar concludes.

MEDIA CONTACT

Jan KRCMAR
T  +420 773 032 182
E  jan.krcmar@photonenergy.com

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