In accordance with the financial statements of 31/03/2008, based on the International Financial Reporting Standards, the first quarter 2008 financial results of TERNA ENERGY are as follows:
Consolidated sales settled at 16.2 mil. euro, compared to 13.8 mil. euro in the first quarter of 2007, increased by 17.3%.
Operating profits before depreciation (EBITDA) amounted to 6.8 mil. euro, increased by 1.5% compared to the same period of last year, while earnings before interest and taxes (EBIT) amounted to 7.8 mil. euro compared to 4.4 mil. euro in the first quarter of 2007, rising by 77%.
Net earnings after minority interest amounted to 5.9 mil. euro, compared to 3.7 mil. euro in the same period last year, increased by 59%.
The company already operates 118 MW, while within the year is expected to install additional 59 MW of RES in Greece. TERNA ENERGY holds energy production licences for additional 523 MW, and it has submitted applications to acquire production licences that exceed 2,000 MW.
Also in the near future, the Company is expected to capture business opportunities in selected markets outside Greece, since it is in a position to take advantage of its long-term know-how and strong capital base.