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. estimatesActual solar production in line with estimates
Attachment
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