Copenhagen, 4 August 2020
Improved Financials for H1 2020
- Revenue lower than H1 2019 (EUR 0.1M vs EUR 0.3M)
- EBITDA of EUR -2.0M (EUR -3.2M in H1 2019)
Impairment of assets
- Loss of EUR 1.9M of Discontinued operations
Revised Outlook for 2020
- EBITDA and net result are expected in the range EUR -4.5M – EUR -5.5M against previously EUR -3.0M – EUR -4.0M
Events occurred after 30 June 2020
- Francesco Vittori was appointed CEO as per 1 August 2020, while continuing as CFO and consequently constituting the Management of the Group (see Company Announcement No.10/2020)
Negative production trend in H1 2020 mainly due to poor wind conditions
- -29% in total net production in H1 2020 vs. H1 2019: 31 GWh
- -37% in actual wind production vs. estimates
- Actual solar production in line with estimates
Attachment