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.