· YoY revenues up by 11.9% to EUR 8.882 million in Q2 2020 due to outstanding power production, O&M services in Europe and EPC business in Australia, boosting EBITDA by 14.8% to EUR 4.035 million
· The Company has passed the 60 MWp mark for its proprietary portfolio and started construction on projects with a combined capacity of 28.7 MWp in Australia and Hungary
· After the reporting period, the Company submitted the prospectus to the Dutch financial market regulator (AFM) in order to move the listing of its shares to the regulated markets of the Warsaw and Prague Stock Exchanges
Amsterdam – 12 August 2020 – Photon Energy N.V. (WSE: PEN, the ‘Group’ or ‘Company’) today announced financial results for the second fiscal quarter, ending 30 June 2020, posting consolidated revenues of EUR 8.882 million, up by 11.9% YoY, and EBITDA of EUR 4.035 million, up by 14.8% YoY.
‘Even though the second quarter was not without challenges due to the ongoing COVID-19 pandemic, we are proud to have delivered a strong operational performance in all of our businesses and to report the best second quarter in terms of revenues and profitability in the Company’s history,’ commented Georg Hotar, CEO of Photon Energy N.V.
In Q2 2020, the Company commissioned five power plants with a combined capacity of 3.5 MWp in Mályi and Kunszentmárton, expanding the Group’s installed base in Hungary to 35.0 MWp and its total proprietary portfolio of power plants to 60.6 MWp. It also started construction on plants with a combined capacity of 14.6 MWp and 14.1 MWp in Australia and Hungary, respectively, and won a tender to deliver a 3 MWp power plant in Wodonga, Australia.
In the reporting period, Photon Energy – as an independent power producer – also saw outstanding figures in electricity generation from its growing portfolio of power plants, increasing to 25.2 GWh, up by 73.7% YoY, and made a strategic investment in the Melbourne-based technology company RayGen Resources.
