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Greentech Energy Systems A/S15 min. fördröjning

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GREENTECH ENERGY SYSTEMS A/S: Revised full-year guidance for 2017

20:13 Greentech Energy Systems A/S Inside information Revised full-year guidance for 2017 Copenhagen, 7 December 2017 Company Announcement No. 16/2017 Greentech Energy Systems A/S (Greentech) revises its full-year guidance for 2017. EBITDA is expected to exceed the previously announced outlook, revenue expectations are adjusted upwards, while production is expected at a lower level than previously announced. Production over 2017 was lower than expected due to poor wind conditions in Southern Europe and should be in the lower range, from 370 390 GWh to 350 370 GWh. However, energy prices for solar and wind sources in Italy and Spain have increased over 2017 and reflect an unexpected evolution in the energy mix and a higher demand for energy due to the ongoing recovery in Southern European countries. Thus, Revenue expectation for 2017 is increased from EUR 58 62M to EUR 60 64M (including Revenue from Associates). In addition, operating expenses and G&A were lower than expected. The combined effect on the EBITDA is an improvement in the expected range from EUR 39 43M to EUR 42 46M (including EBITDA from Associates). The previous outlook and the revised outlook are presented in the table below: OUTLOOK 2017 Outlook 2017 Revised (March 2017) outlook (December 2017) (EUR000) Net production (GWh) 370 - 390 350 - 370 Revenue 51 - 53 53 - 55 Revenue from Associates 7 - 9 7 - 9 Total revenue 58 - 62 60 - 64 EBITDA* 33 - 35 36 - 38 EBITDA from Associates 6 - 8 6 - 8 Total EBITDA 39 - 43 42 - 46 Total EBITDA margin 67% - 69% 71% - 73% * Adjusted for income from Associates and Special Items Contact: Peter Høstgaard-Jensen, Chairman of the Board of Directors, Tel: +45 40 10 88 71 Alessandro Reitelli, CEO, Tel: +45 33 36 42 02 © Nasdaq
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