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2020-08-04

Interim Financial Report - H1 2020

 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

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