HIGHLIGHTS Q2 2020
EBITDA for the quarter was minus EUR 100 thousand and accumulated for the year
minus EUR 277 thousand. Normal operations, adjusted for legal costs resulted in
an EBITDA of EUR 41 thousand for the quarter and EUR 17 thousand for the year,
equivalent to an adjusted EBITDA margin of 10 per cent and 2 per cent,
Cost of operations and SG&A were EUR 44 thousand and EUR 303 thousand for the
quarter and EUR 90 thousand and EUR 578 thousand accumulated for the year
Legal costs were EUR 141 thousand in the quarter and EUR 294 thousand
accumulated for the year respectively.
EAM Solar ASA has obtained the necessary documents from the criminal court in
Italy to enforce the provisional damages award of EUR 5 million towards Aveleos
in Luxembourg. Aveleos has appealed the award and a hearing has been scheduled
at 19 August 2020 in Milano on the matter of the provisional award.
For further information, please contact: Viktor E Jakobsen, CEO, phone +47 9161
About EAM Solar ASA: EAM Solar ASA is a utility company that acquires and
operates solar power plants. The Company currently owns solar PV power plants in
Italy. The plants are operating under long-term sales contracts. In addition,
the Company's business is lawsuits in relation solar power plants.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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