EQS-News  113  0 Kommentare Photon Energy Group Reports Financial and Operational Results for the First Quarter of 2024

• In the first quarter, the Group's consolidated revenues amounted to EUR 17.375 million, compared to EUR 19.280 million a year earlier, representing a decrease of 9.9% YoY.
• Consolidated EBITDA of EUR 0.783 million more than doubled YoY, compared to EUR 0.330 million in Q1 2023. EBIT of EUR -1.425 million slightly improved compared to EUR -1.569 million a year earlier. The Group recorded a net loss of EUR –1.321 million, compared to a loss of EUR -4.170 million in Q1 2023.
• The Group has released its full-year 2024 financial guidance, forecasting 2024 revenues to fall between EUR 90 and 100 million and 2024 EBITDA in the range of EUR 16 to 18 million.

Amsterdam – 17 May 2024 – Photon Energy N.V. (WSE: PEN, “Photon Energy Group”, the “Group” or the “Company”) announces financial results for the first quarter of 2024.

“The first quarter of 2024 was marked by our continued efforts to make our business model more resilient to further economic and geopolitical fluctuations. First of all, we have managed to complete the rebalancing of our IPP portfolio which, as of 1 April 2024, represents a nearly 50/50 split between the support scheme mechanism, or FIT, and a merchant model, selling on day-ahead spot prices. Transitioning to a more balanced portfolio between the two schemes is a strategic move, especially given the declining energy prices in the CEE region and current geopolitical uncertainties. In May 2024, we finally signed a project refinancing agreement for EUR 15 million with EBRD. This funding will undoubtedly provide a significant boost to the Group’s expansion plans in Romania and the development of the capacity market offerings. Looking ahead, we believe that the achievements of this first quarter will not be undermined as they help us to leverage the strength of our business model and recover the overall growth and profitability of the Group in 2024. With the above changes in place, we feel more confident that we can promise a more positive trajectory for our Group’s business in the coming quarters,” said Georg Hotar, CEO of Photon Energy Group.

Diskutieren Sie über die enthaltenen Werte

Photon Energy

Aktie

Beiträge: 58