52.9% increase in profit after tax

Investment program of 6 wind farms totaling 202 MW is fully underway

EL.TECH. ANEMOSΆ figures kept increasing in the 9-month period of 2018. The consistent implementation of the investment program has led to increased installed capacity, and the wind performance data were favorable. According to the financial results of the EL.TECH. ANEMOS Group of companies for the nine month period of 2018, as reported today in accordance with the International Financial Reporting Standards (IFRS), the consolidated turnover shows 21.4% increase, amounting to Euro 42.7 million, compared to Euro 35.2 million in the respective period of 2017.

Consolidated EBITDA amounted to Euro 33.0 million, compared to Euro 25.3 million for the respective 9-month period of 2017, increased by 30.7%, while EBIT increased by 35.8% to Euro 23.0 million from Euro 16.9 million for the respective period of 2017. Net profit attributable to parent company shareholders amounted to Euro 10.4 million, increased by 52.8%, and net profit per share amounted to Euro 0.1254, compared to Euro 0.0821 in the first 9-month period of 2017.

Consolidated net debt (total loans minus cash and cash equivalents, restricted cash, and available-for-sale financial assets short-term) marginally increased to Euro 186.4 million, compared to Euro 172.3 million on 31.12.2017, the company's investment program for the period 2018-2020 is fully underway.

In reference to the parent company, the total turnover amounted to Euro 36.5 million, compared to Euro 34.1 million in the same 9-month period of 2017. EBITDA amounted to Euro 27.5 million, compared to Euro 26.7 million for the corresponding period of 2017, while EBIT amounted to Euro 19.5 million, compared to Euro 18.6 million for the corresponding period of 2017. Profits after tax (net profits) slightly decreased (Euro 8.9 million from 9.0 million) and net profit per share amounted to Euro 0.1082, compared to Euro 0.1089 for the corresponding period of 2017.

Τotal installed capacity of EL.TECH. ANEMOS Group of companies on 30.09.2018 was 289.10 MW, comprising of eighteen (18) wind farms of 282.15 MW, one (1) small hydroelectric project of 4.95 MW and one (1) photovoltaic project of 2.00 MWp.

Today, the wind farm Epektasi Tetrapolis (6.4 MW) is under commissioning, thus increasing the installed capacity to 295.5 MW, and five (5) wind farms of a total installed capacity of 195.6 MW are under construction, one (1) of which (Eptadendros, 28.8 MW) has been qualified through the competitive processes organized by RAE (Regulatory Authority for Energy) in July 2018. For all of these wind farms, contracts for the supply of electricity within the framework of law 4414/2016 (Feed-in-Premium) have been signed, with the exception of Eptadedros, which is in the final stages of signing the connection to the network agreement and the purchase power agreement (PPA) will follow under the same framework, as well.

Kifissia, 4^th December, 2018