Electrawinds SE reported earnings results for the year ended December 31, 2012. For the period, the company reported total operating revenue was €112,816,000 against €116,483,000 a year ago. EBITDA was €28,085,000 against €31,060,000 a year ago.

Operating loss was €3,607,000 against profit of €3,294,000 a year ago. LBT was €40,826,000 against €27,639,000 a year ago. Loss for the year was €42,922,000 against €26,394,000 a year ago.

The consolidated net debt amounted to €361.3 million at year-end 2012, a net increase of €39.6 million compared to year-end 2011 mainly due to new project financing drawn for projects brought into operation in the course of the year (wind projects in Ireland & Belgium and solar projects in Belgium & Italy). The net result for 2012 amounts to a loss of €42.9 million negatively impacted by a non-recurring non-cash loss of €9.3 million resulting from the accounting treatment of the business combination, and by the accounting impact from negative mark-to-market of interest hedging instruments for an amount of €4.9 million, totaling €19.1 million at year-end 2012.