Photon Energy is publishing its report for the third quarter of 2017, during which the Company increased its consolidated revenues by 6.8% YoY to EUR 4.91 million, driving EBITDA to an all-time-high of EUR 3.14 million (+14.5% YoY), EBIT to EUR 1.23 million (+36.2% YoY), profit after taxation to EUR 0.61 million (+251.2% YoY) and Total Comprehensive Income to EUR 1.05 million (+35.4% YoY).
During the first three quarters of 2017 Photon Energy’s continuing improvement is crystallizing in the form of a bottom line YoY turnaround from a net loss after taxation of EUR 0.87 million to a net profit after taxation of EUR 0.70 million. At the pre-tax level the company swung from a EUR 0.91 million loss to a profit of EUR 1.34 million. Consolidated revenues increased by 16.5% to EUR 12.94 million while EBITDA rose 17.8% to EUR 7.33 million and EBIT improved by 53.6% to EUR 2.72 million.
Photon Energy’s improving financial performance is de-risking the business as evidenced by a YoY reduction in the Net Debt/EBITDA ratio from 7.3 to 6.1 and a YoY improvement in the interest coverage ratio from 2.1 to 2.7. These improvements keep the company well within its bond covenants and increase its debt capacity.
During 2017Q3 Photon Energy continued its extensive development effort on a project pipeline exceeding 1.4 GWp in Australia while adding new projects in Hungary. The Group’s accelerating revenue growth is testament to the good performance of its proprietary power plant portfolio, continued growth in the O&M segment and improving activity levels in other business lines. Strict cost management has ensured that higher revenues have fed through to the bottom line.
Georg Hotar, the Photon Energy’s CEO, will answer questions in a Q&A Chat organized jointly with the Polish Retail Investors Association SII on 13 November 2017 at 11 a.m. The chat will be webcast live in Polish and English on www.sii.org.pl.
Legal basis: § 5 ust. 1 point no.1 of the Appendix 3 to Regulations of the Alternative Trading System -"Current and Periodical Information in the Alternative Trading System".
Osoby reprezentujące spółkę:
Georg Hotar - Director
Michael Gartner - Director