Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ALTERNUS ENERGY GROUP PLC

(ALT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Alternus Energy : grows annual recurring revenues and asset base in second quarterNotably the period to June 30 this year saw the group's annual recurring revenue grow 308% compared to the same quarter of 2020

08/18/2021 | 10:04am EDT

Pro-Active Investors, August 17th 2021 -Notably the period to June 30 this year saw the group's annual recurring revenue grow 308% compared to the same quarter of 2020

Alternus Energy PLC (EURONEXT:ALT), the independent power producer, has hailed its second-quarter performance, which saw the company boost revenue and its asset base.

For the period ended June 30, 2021, the group's annual recurring revenue grew 308%, compared to the same quarter of 2020, due to the addition of a 20 MWp operational solar park.

Also, and as reported in June, the firm acquired a majority 60% interest in Netherlands-based Engineering Procurement and Construction (EPC) and Operations and Maintenance (O&M) company Unisun Energy Holding, adding over 250 MW of solar projects at various stages of development to the Alternus portfolio.

'We have increased the company's annual recurring revenues to 16.3 million euros, up from 3.8 million euros from the same quarter last year and are maintaining an average of 75% project gross margins,' highlighted Alternus CFO Joseph Duey in a statement.

'Our strengthened balance sheet and proven financing capability is enabling us to accelerate our growth as seen in the increased contract backlog. This continued strong financial performance demonstrates our successful growth and underpins our business plan to secure more than 3.5 GW of operational projects by 2025.'

Group revenue in the second quarter increased to 5.2 million euros, up from 1.5 million euros in the second quarter of 2020, while the company's owned assets increased by 14 times to 423 MW.

Alternus CEO Vincent Browne said: 'Most importantly this quarter started to show the positive income impacts to the business from the recent acquisitions. Further to the 110 million euro bond issuance and 27 million euro equity raise in the first quarter, the company raised an additional 6.9 million euro in equity this quarter through our listing on the Euronext Growth Market - Oslo at the end of June.'

'All funding is concentrated on continuing to grow our asset base from the 1.4 gigawatts (GW) of contracted assets we have in hand. I am also very pleased to confirm that we finally look set to acquire the exciting 65MW polish park that is part of the initial bond portfolio in September. On completion, this will make us operational in a new country and add approximately 3.5 million euros to our annual revenues bringing the total to just under 20 million euros annually without further acquisitions.'

Contact the author at giles@proactiveinvestors.com

Disclaimer

Alternus Energy Group plc published this content on 18 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2021 14:03:03 UTC.


ę Publicnow 2021
All news about ALTERNUS ENERGY GROUP PLC
09/30ALTERNUS ENERGY GROUP PLC : Schedule Annual General Meeting
AQ
09/01ALTERNUS ENERGY : doubles its installed capacity with Poland-based Witnica solar park acqu..
PU
08/31ALTERNUS ENERGY : doubles operating assets to 130 MWp with closing of acquisition of 64.6 ..
AQ
08/31ALTERNUS ENERGY GROUP PLC (OB : ALT) acquired 64.6 MWp Polish Witnica solar park of BayWa ..
CI
08/23ALTERNUS ENERGY : Appoints Tone Bjørnov To Board Of Directors
AQ
08/18ALTERNUS ENERGY : grows annual recurring revenues and asset base in second quarterNotably ..
PU
08/17ALTERNUS ENERGY : Q2 2021 IFRS Financial Statements
PU
08/17ALTERNUS ENERGY : Q2 2021 Financial Presentation
PU
08/17ALTERNUS ENERGY : Demonstrates Strong Financial Performance for Q2 2021
AQ
08/13ALTERNUS ENERGY : New Share Capital Registered
AQ
More news
Financials
Sales 2021 15,0 M 17,4 M 17,4 M
Net income 2021 12,0 M 13,9 M 13,9 M
Net Debt 2021 81,0 M 94,0 M 94,0 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 84,6 M 98,2 M 98,1 M
EV / Sales 2021 11,0x
EV / Sales 2022 16,9x
Nbr of Employees -
Free-Float 90,7%
Chart ALTERNUS ENERGY GROUP PLC
Duration : Period :
Alternus Energy Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 31,50 NOK
Average target price 35,00 NOK
Spread / Average Target 11,1%
Managers and Directors
Vincent Browne Chairman & Chief Executive Officer
Joseph E. Duey Chief Financial Officer
Larry Farrell Vice President-Operations
Tone Bj°rnov Non-Executive Director
Taliesin Durant General Counsel