According to the financial statements of 30/09/2010, which were prepared in accordance with the International Financial Reporting Standards, the results for the 9month of 2010 of TERNA ENERGY are as follows:
Consolidated sales amounted to 42.7 mil euro compared to 51.4 mil euro during the 9month of 2009, posting a 16.8% decrease due to the decline of income from the company's construction activities. Income from the energy sector amounted to 23.6 mil euro compared to 22.8 mil euro the 9month of 2009, increased by 3.3%.
Sales of the company's construction sector towards third parties amounted to 19.1 mil euro, compared to 28.6 mil mil euro the respective period of 2009, posting a decrease of 32.9%.
Earnings before interest tax depreciation and amortization (EBITDA) amounted to 14.3 mil euro compared to 19.6 mil euro the 9month of 2009, thus decreased by 26.6% compared to the respective period last year. EBITDA from the energy segment amounted to 12.7 mil compared to 14.8 mil in the 9month of 2009, posting a 13.6% decrease as a result of increased expenses from the company's effort to expand its foreign activities. EBITDA from constructions amounted to 1.6 mil euro compared to 4.8 mil during the respective period of 2009, posting a 68% decline.
Earnings before interest and tax (ΕΒΙΤ) amounted to 9.4 mil euro, decreased by 35.8% compared to 14.7 mil euro during the 9month of 2009. Correspondingly, earnings before tax were affected also by the lower interest income and amounted to 11.2 mil euro compared to 18.5 mil euro during the respective period of 2009, thus posting a decrease of 39.3%. Net earnings after minority interest, amounted to 5.6 mil euro compared to 13.5 mil euro the respective period of last year, thus decreased by 57.8%, with a significant negative effect from the windfall tax imposed on profitable companies. The Group's investments amounted to 58.4 mil euro for the 9month of 2010, as the investment plan is underway.
Cash flows from operating activities during the 9month amounted to 22.3 mil euro compared to 18.2 mil euro during the respective period of 2009, while the Group's net cash position (cash & cash equivalents minus bank debt) amounts to 6.3 mil euro. The Group maintains excellent liquidity, as its cash & cash equivalents amount to 196.8 mil euro.
TERNA EERGY began operations of yet another wind park, with a capacity of 12.5 MW in Greece, and thus currently the company operates a total capacity of 161 MW in RES facilities.
The company has initiated the construction of an additional wind park with capacity of 24 MW in Poland, with the Group's total capacity under construction now reaching 263.5 MW. The company has production licenses for additional 592 MW of wind parks and 125 MW hydroelectric projects in Greece, while it has submitted applications for production licenses that exceed 4,500 MW.
In Eastern Europe, the company is currently constructing 3 wind parks in Poland, with a capacity of 56 MW and two wind parks in Bulgaria, with a capacity of 30 MW.
Overall, the company operates or is currently constructing 424 MW in RES facilities in the European area.
Information:
Investor Relations: Aristotelis Spiliotis, tel + 30 210 69 68 431,tspiliotis@terna-energy.gr
Press Office & Public Relations: Konstantinos Lambrou, tel + 30 210 6968445, prkl@gekterna.gr