13/2017: Monthly update for September 2017

Posted by in Company Announcements | 0 comments

Wind

  • In September 2017, the total wind production was 11% above estimates.
  • In particular, due to favourable wind conditions, production was higher than expected in Italy (+29%) and Spain (+8%). In Denmark, Germany and Poland the production was considerably below estimates due to low wind speed.
  • Net wind production year-to-date was lower than estimates and the same period last year.

 

Solar

  • In September 2017, the total solar production was in line with estimates.
  • In particular, the average irradiation was fairly higher than expected in Spain and slightly lower than estimated in Italy.
  • Net solar production year-to-date was higher than estimates (+6%) and the same period last year (+4%).

 

Read the PDF file

 

12/2017: Monthly update for August 2017

Posted by in Company Announcements | 0 comments

Wind

  • In August 2017, the total wind production was in line with estimates.
  • On the one hand, due to favourable wind conditions, production was higher than expected in Italy (+10%) and in line with expectations in Spain, where the Conesa plant delivered a production significantly higher (+29%) compared to the same period in 2016. On the other hand, in Germany, Denmark and Poland the production was below estimates due to low wind speed.
  • Net wind production year-to-date was lower than estimates and the same period last year.

 

Solar

  • In August 2017, the total solar production was in line with estimates.
  • In particular, the average irradiation was higher than expected in Italy and considerably lower than estimated in Spain.
  • Net solar production year-to-date was higher than estimates (+7%) and the same period last year (+5%).

 

Read the PDF file

 

11/2017: Sale of the Danish wind portfolio

Posted by in Company Announcements | 0 comments

Today, Greentech Energy Systems A/S (“Greentech”) signed an agreement for the sale of its Danish wind portfolio to Wind Estate A/S.

As announced in the Interim Financial Report for H1 2017, the Management of Greentech has been pursuing opportunities for the disposal of the Company’s Danish assets. In continuation hereof, Greentech today signed an agreement for the sale of its Danish wind portfolio to Wind Estate A/S, an energy company which owns, develops, constructs, operates and maintains own wind farms in Denmark for a total installed capacity of more than 200 MW.

The wind portfolio is composed of four wind farms located in Milbakken, Oppelstrup, Hannesborg and Frørup with a total net capacity of 15.5 MW and commissioned in 2000/2001.

The total transaction price for the four wind farms amounts to DKK 24,400,000 (approx. EUR 3.3M).

After the satisfaction of some conditions precedent, Greentech expects to complete the transaction in Q4 2017.

 

Read the PDF file

 

10/2017: Monthly update for July 2017

Posted by in Company Announcements | 0 comments

Wind

  • In July 2017, the total wind production was 21% above estimates.
  • In particular, due to favourable wind conditions, production was higher than expected in Italy (+31%), Denmark (+19%) and in Spain (+17%). In Germany, the production was considerably below estimates due to low wind speed.
  • Net wind production year-to-date was lower than estimates and the same period last year.

 

Solar

  • In July 2017, the total solar production was in line with estimates.
  • In particular, the average irradiation was higher than expected in Italy and slightly lower than estimated in Spain.
  • Net solar production year-to-date was higher than estimates (+8%) and the same period last year (+6%).

 

Read the PDF file

 

Interim Financial Report – Half Year 2017

Posted by in Company Announcements | 0 comments

Positive trend in financials for H1 2017

  • 9% profit increase to EUR 4.9M
  • 12% increase in revenue to EUR 28.4M
  • 6% increase in EBITDA to EUR 20.3M*
  • 1% decrease in EBITDA to EUR 24.4M, including EBITDA from associates

*Adjusted for income from Associates/ Excluding Special Items

 

Negative trend in the production performance in H1 2017 mainly due to poor wind conditions

  • 50% of the total expected annual net production has been generated in H1 2017
  • -13% in total net production in H1 2017 vs H1 2016: 192 GWh
  • -13% in actual wind production vs. estimates
  • +3% in actual solar production vs. estimates

 

 

Read the PDF file

 

9/2017: Monthly update for June 2017

Posted by in Company Announcements | 0 comments

Wind

  • In June 2017, the total wind production was below estimates.
  • On one hand, the production from our Italian wind farms was considerably lower than expected (-29%) due to low wind speed in the country. On the other hand, in Denmark (+47%), Poland (+37%), Spain (+7%) and Germany (+3%) the production was above estimates due to better wind conditions.
  • Net wind production year-to-date was lower than estimates and the same period last year.

 

Solar

  • In June 2017, the total solar production was slightly higher than estimated.
  • In particular, the average irradiation was higher than expected in Italy and in line with expectations in Spain.
  • Net solar production year-to-date was higher than expected and the same period last year.

 

Read the PDF file

 

8/2017: Monthly update for May 2017

Posted by in Company Announcements | 0 comments

Wind

  • In May 2017, the total wind production was 8% below estimates.
  • In particular, due to poor wind conditions, production was lower than expected in almost all our countries except for Poland (+17%) and Spain (+2%). The Polish turbines delivered a production extremely higher than the same period in 2016 (+100%).
  • Net wind production year-to-date was lower than estimates and the same period last year.

 

Solar

  • In May 2017, the total solar production was 8% higher than estimated.
  • In particular, the average irradiation was higher than expected both in Italy and Spain raising the solar production by +8% and +6% respectively.
  • Net solar production year-to-date was higher than expected and the same period last year.

 

Read the PDF file

 

7/2017: Monthly update for April 2017

Posted by in Company Announcements | 0 comments

Wind

  • In April 2017, the total wind production was 18% below estimates.
  • In particular, the production from Italy and Spain was considerably below expectations due to extremely poor wind conditions across Southern Europe. On the contrary, production from Germany (+2%) and especially from Denmark (+47%) and Poland (+28%) was higher than expected due to good wind conditions.
  • Net wind production year-to-date was lower than budget and lower than the same period last year.

 

Solar

  • In April 2017, the total solar production was 10% higher than estimated.
  • In particular, the average irradiation was higher than expected both in Italy and Spain raising the solar production by +11% and +9% respectively.
  • Net solar production year-to-date was higher than expected and the same period last year.

 

Read the PDF file

 

6/2017: Minutes of Annual General Meeting 2017

Posted by in Company Announcements | 0 comments

The Annual General Meeting of Greentech Energy Systems A/S was held today.

The shareholders at the General Meeting adopted the Board of Directors’ report on the activities,
the Annual Report for 2016 and the distribution of the result for the year as proposed in the
Annual Report. The dividend will amount to DKK 0.162 (EUR 0.022) per share.

 

Read the PDF file

 

5/2017: Monthly update for March 2017

Posted by in Company Announcements | 0 comments

Wind

  • In March 2017, the total wind production was 21% below estimates.
  • In particular, due to poor wind conditions all around Europe, production generated in all our countries was lower than expected.
  • Net wind production year-to-date was considerably lower than budget (-12%) and fairly lower than the same period last year (-5%).

 

Solar

  • In March 2017, the total solar production was 21% higher than estimated.
  • In particular, the average irradiation was remarkably higher than expected in Italy, raising the solar production by +27% compared to estimates. In Spain, the solar production was fairly higher than expected (+5%).
  • Net solar production year-to-date was considerably higher than expected (+15%) and the same period last year (+10%).

 

Read the PDF file

 

Notice of Annual General Meeting 2017

Posted by in Company Announcements | 0 comments

Pursuant to article 8 of the articles of association, notice is given that the Annual General Meeting of Greentech Energy Systems A/S will be held on Wednesday, 26 April 2017 at 3.00 pm
at Copenhagen Marriott Hotel, Kalvebod Brygge 5, 1560 Copenhagen, Denmark.

 

Read the Notice

Read the Complete Proposals

 

 

Annual Report for 2016

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S publishes its Annual Report for 2016:

  • Profit for the period of EUR 5.5M compared to EUR 1.3M in 2015
  • Proposed dividend for 2016 of DKK 0.162 (EUR 0.022) per share
  • Net production of 372.4 GWh compared to 354.1 GWh in 2015 (+ 5%)
  • Revenue, including Associates, of EUR 59.1M, in line with FY 2015
  • EBITDA, including Associates, of EUR 40.6M compared to EUR 37.8M in 2015 (+ 7%)
  • EBITDA margin including Associates of 69% compared to 64% in 2015
  • Total cash flow from continuing operations of EUR 7.1M compared to EUR 1.3M in 2015
  • Environment Protection: Gross Production in 2016 supplied 148,000 families, reduced the CO2 emissions by approx. 236,000 tons equalling the elimination of emissions from more than 98,000 cars.

 

Read the PDF file

 

 

4/2017: Monthly update for February 2017

Posted by in Company Announcements | 0 comments

Wind

  • In February 2017, the total wind production was 6% below estimates.
  • In particular, due to poor wind conditions, production generated was lower than expected in southern countries, while Denmark (+7%) and Germany (+23%) performed well.
  • Net wind production year-to-date was fairly lower than budget (-6%) and considerably lower than the same period last year (-16%).

 

Solar

  • In February 2017, the total solar production was 9% higher than estimated.
  • In particular, the average irradiation was higher than expected in Italy, raising the solar production by +23% compared to estimates. In Spain, the solar production was lower than expected due to a lower average irradiation.
  • Net solar production year-to-date was fairly higher than expected (+9%) and the same period last year (+5%).

 

Read the PDF file

 

3/2017: Monthly update for January 2017

Posted by in Company Announcements | 0 comments

Wind

  • In January 2017, the total wind production was 7% below estimates.
  • In particular, due to poor wind conditions, production generated was lower than expectations in almost all our countries, except in Italy, where the production was higher than expected (+8%) and slightly higher compared to January 2016.

 

Solar

  • In January 2017, the total solar production was 9% higher than estimated.
  • The average irradiation was lower than expected in Italy but considerably higher than expected in Spain, raising the solar production of La Castilleja solar plant by 36% compared to estimates.

 

Read the PDF file

 

2/2017: Sale of the Environment Division

Posted by in Company Announcements | 0 comments

As announced in the Annual Report 2015 and confirmed in the Interim Report for H1 2016, Greentech has been conducting a disposal process of the Environment Division in order to focus its activities on solar and wind technologies only.

Today, the Division was taken over by a company controlled by Bernardinello Engineering S.p.A., a leading Italian operator in the environment sector. The impact of the transaction on Greentech‘s accounts is not significant.

 

 Read the PDF file

 

1/2017: Monthly Update for December 2016

Posted by in Company Announcements | 0 comments

Wind

  • In December 2016, the total wind production was 14% below estimates, but significantly higher than the year-earlier period.
  • Mainly due to wind conditions below expectations, production was lower than estimated in Italy, Germany and especially Spain. The total production of the Danish and Polish turbines, on the other hand, was higher than expected, +13% and +42% respectively.
  • In 2016, the wind portfolio reached a total net production of more than 316 GWh, an increase of almost 7% compared to 2015.

 

Solar

  • In December 2016, the solar production was 31% higher than estimated.
  • With irradiation considerably higher than expected, the Italian and Spanish solar plants performed significantly above budget: +33% and +23% respectively.
  • In 2016, the solar portfolio generated a net production of approx. 54 GWh which was in line with 2015.

 

In 2016, Greentech’s wind and solar assets have delivered a combined production in line with the Outlook announced in the Annual Report for 2015.

 

Read the PDF file

 

20/2016: Acquisition of the remaining 50% stake of La Castilleja solar plant completed

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S (“Greentech”) signs the definitive agreement for the acquisition of the remaining stake (50%) of La Castilleja solar plant from its co-shareholder Foresight Group.

As anticipated in Company Announcement No. 12/2016, Greentech completed the transaction for the acquisition of the remaining 50% stake of the Spanish La Castilleja solar plant from its co-shareholder, a company belonging to certain funds managed by Foresight Group. Now Greentech owns 100% of the Spanish solar plant (9.80MW).
The total price of the transaction was of EUR 3,700K.

 

Read the PDF file

 

19/2016: Monthly Update for November 2016

Posted by in Company Announcements | 0 comments

Wind

  • In November 2016, the total wind production was in line with estimates.
  • On one hand, due to favourable wind conditions, production was higher than expected in Italy (+14%), where the Monte Grighine and Minerva Messina wind farms delivered a production significantly higher compared to the same period in 2015, +49% and +82% respectively. On the other hand, in Spain, Germany and Denmark the production was below estimates due to low wind speed.
  • Net wind production year-to-date was in line with estimates and fairly higher than the same period last year.

 

Solar

  • In November 2016, the solar production was 5% above expectations.
  • In particular, the average irradiation was higher than expected in Italy, raising the solar production by +6% compared to estimates. In Spain, the solar production was slightly lower than expected (-1%) due to a lower average irradiation.
  • Net solar production year-to-date was in line with estimates and with the same period last year.


Read the PDF file

 

18/2016: Financial Calendar for 2017

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S has scheduled the following dates in 2017 for releases of financial reports and the Annual General Meeting:

 

Deadline for shareholders to submit proposals for the agenda of the Annual General Meeting: 15 March 2017
Annual Report 2016: 29 March 2017
Annual General Meeting 2017: 26 April 2017
Interim Report for H1 2017: 3 August 2017

 

Read the PDF file

 

17/2016: Monthly Update for October 2016

Posted by in Company Announcements | 0 comments

Wind

  • In October 2016, the total wind production was below estimates.
  • In particular, due to poor wind conditions, production was lower than expected in almost all our countries except for Poland (+42%), where our turbines delivered a production extremely higher (+75%) compared to the same period in 2015.
  • Net wind production year-to-date was in line with estimates and the same period last year.

 

Solar

  • In October 2016, the solar production was below expectations.
  • In particular, the average irradiation was lower than expected in Italy and in line with expectations in Spain.
  • Net solar production year-to-date was in line with estimates and with the same period last year.


Read the PDF file

 

16/2016: Monthly Update for September 2016

Posted by in Company Announcements | 0 comments

Wind

  • In September 2016, the total wind production was below estimates.
  • In particular, due to poor wind conditions, production was lower than expected in almost all our countries except for Spain (+3%), where the Spanish turbines delivered a production fairly higher (+8%) compared to the same period in 2015.
  • Net wind production year-to-date was slightly higher than estimates and the same period last year.

 

Solar

  • In September 2016, the solar production was below expectations.
  • In particular, the average irradiation was lower than expected in Italy and above expectations in Spain.
  • Net solar production year-to-date was in line with estimates and with the same period last year.


Read the PDF file

 

15/2016: Sale of the Fotocampillos solar plant

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S sold its Spanish Fotocampillos solar plant (2.10 MW) to Vela Energy S.L., an IPP platform that operates renewable energy generating assets in
the South of Europe.

The closing of the transaction has occurred today.

The total transaction price for the solar plant amounts to EUR 3,333K.

 
Read the PDF file

 

14/2016: Monthly Update for August 2016

Posted by in Company Announcements | 0 comments

Wind

  • In August 2016, the total wind production was 3% below estimates.
  • In particular, Germany and Spain were affected by low wind speed. On the contrary, in Denmark production was higher than expected (+6%) and extremely higher compared to August 2015 (+34%). In Italy and Poland, production was in line with expectations but higher than in August 2015, especially in Poland (+26%).
  • Net wind production year-to-date was 4% higher than estimates and fairly higher than the same period last year.

 

Solar

  • In August 2016, the solar production was in line with expectations.
  • In particular, the average irradiation was in line with estimates both in Italy and Spain.
  • Net solar production year-to-date was in line with estimates and with the same period last year.


Read the PDF file

 

13/2016: Monthly Update for July 2016

Posted by in Company Announcements | 0 comments

Wind

  • In July 2016, the total wind production was 4% below estimates.
  • In particular, Germany was affected by low wind speed. On the contrary, our Danish (+6%) and Polish (+4%) wind farms experienced better wind conditions than expected. In Italy and Spain, production was slightly lower than expected but higher than in July 2015, especially in Italy (+24%).
  • Net wind production year-to-date was 5% higher than estimates and fairly higher than the same period last year.

 

Solar

  • In July 2016, the solar production was in line with expectations.
  • In particular, the average irradiation was higher than expected in Italy and lower than forecasted in Spain.
  • Net solar production year-to-date was in line with estimates and with the same period last year.


Read the PDF file

 

Interim Financial Report – Half Year 2016

Posted by in Company Announcements | 0 comments

Positive trend in financials for H1 2016

  • Profit year to date 2016
  • 6% decrease in revenue to EUR 25.3M
  • 7% increase in EBITDA to EUR 19.2M*
  • 6% increase in EBITDA to EUR 24.7M, including EBITDA from associates

    *Adjusted for income from Associates/ Excluding Special Items

Positive trend in the production performance compared to estimates in H1 2016

  • 56% of the total expected annual net production has been already generated in H1 2016
  • +3% in total net production in H1 2016 vs H1 2015: 217 GWh
  • +6% in actual wind production vs. estimates
  • +2% in actual solar production vs. estimates


Events occurred after 30 June 2016

  • On 26 July 2016, Greentech signed an agreement for the acquisition of the remaining stake (50%) of La Castilleja solar plant (9.8MW) from its co-shareholder Foresight Group

 


Read the PDF file

 

12/2016: Agreement for the acquisition of the remaining 50% stake of la Castilleja

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S (“Greentech”) signs an agreement for the acquisition of the remaining stake (50%) of la Castilleja solar plant from its co-shareholder Foresight Group.

In the context of the reorganization of its activities, Greentech has decided to acquire the remaining 50% stake of the Spanish solar plant la Castilleja from its co-shareholder, a company belonging to certain funds managed by Foresight Group. After the satisfaction of some conditions precedent, Greentech will own 100% of the Spanish solar plant (9.80MW).

The total price of the transaction for the remaining stake (50%) of la Castilleja solar plant is EUR 3,700K.

Greentech expects to complete the transaction within the second semester of 2016.

 


Read the PDF file

 

11/2016: Monthly Update for June 2016

Posted by in Company Announcements | 0 comments

Wind

  • In June 2016, the total wind production was 5% below estimates.
  • In particular, due to poor wind conditions, production generated was lower than expected in almost all our countries, except in Spain, where the production was higher than expected (+15%) and extremely higher compared to June 2015 (+40%).
  • Net wind production year-to-date was 6% higher than estimates and fairly higher than the same period last year.

 

Solar

  • In June 2016, the solar production was in line with expectations.
  • In particular, the average irradiation was in line with estimates both in Italy and Spain.
  • Net solar production year-to-date was in line with estimates and with the same period last year.


Read the PDF file

 

10/2016: Announcement of significant position

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S has been informed as follows by Pirelli & C S.p.A.:
“In accordance with the rules of Section 29 of the Danish Securities Trading Act we hereby notify you that we have disposed of our shares in Greentech Energy Systems A/S so that we no longer hold any shares in the company”.

Greentech Energy Systems A/S has been informed as follows by Intesa Sanpaolo S.p.A.:
“In accordance with the rules of Section 29 of the Danish Securities Trading Act we hereby notify you that we have disposed of our shares in Greentech Energy Systems A/S so that we no longer hold any shares in the company”.

Greentech Energy Systems A/S has been informed as follows by GWM SIF.:
“In accordance with the rules of Section 29 of the Danish Securities Trading Act we hereby notify you that we have acquired an additional shareholding of 22’145’666 shares in Greentech Energy Systems A/S. Following the acquisition we hold a total of 31’042’832 shares, equivalent to 29.10% of the shares in the company, and thus have exceeded the 25% threshold. We have simultaneously herewith reported the transaction to the Danish Financial Supervisory Authority”.

 


Read the PDF file

 

9/2016: Monthly Update for May 2016

Posted by in Company Announcements | 0 comments

Wind

  • In May 2016, the total wind production was 30% above estimates.
  • Due to extremely favourable wind conditions across Southern Europe, the production from the Spanish (+28%) and especially the Italian (+46%) wind farms was significantly
    above expectations. On the other hand, in Denmark, Poland and Germany the production was below estimates due to low wind speed. The total production was 40% higher than
    May 2015.
  • Net wind production year-to-date was 8% higher than estimates and fairly higher than the same period last year.

 

Solar

  • In May 2016, the solar production was in line with estimates.
  • In particular, the average irradiation was in line with estimates in Italy and lower than expected in Spain.
  • Net solar production year-to-date was in line with estimates and slightly lower than the same period last year.


Read the PDF file

 

8/2016: Monthly Update for April 2016

Posted by in Company Announcements | 0 comments

Wind

  • In April 2016, the total wind production was in line with estimates.
  • On one hand, due to favourable wind conditions, production was higher than expected in Poland (+7%) and especially in Spain (+19%), where the Conesa plant delivered a production significantly higher (+48%) compared to the same period in 2015. On the other hand, in Italy, Germany and Denmark the production was below estimates due to low wind speed.
  • Net wind production year-to-date was in line with estimates and with the same period last year.

 

Solar

  • In April 2016, the solar production was 5% above estimates.
  • In particular, the average irradiation was slightly higher than expected in Italy, raising the solar production by +7% compared to estimates. In Spain, the solar production was lower than expected (-4%) due to a lower average irradiation.
  • Net solar production year-to-date was slightly higher than expected and in line with the same period last year.


Read the PDF file

 

7/2016: Monthly Update for March 2016

Posted by in Company Announcements | 0 comments

Wind

  • In March 2016, the total wind production was 14% below estimates.
  • In particular, due to poor wind conditions all around Europe, production generated in almost all our countries was lower than expected. Only in Spain, the production was higher than expected but lower than in March 2015 due to extraordinary favourable wind conditions in the year-earlier period.
  • Net wind production year-to-date was fairly higher than expected (+5%) and slightly lower than the same period last year (-4%).

 

Solar

  • In March 2016, the solar production was in line with estimates.
  • In particular, the average irradiation was higher than expected in Spain, raising the solar production by +6% compared to estimates. In Italy, the solar production was in line with estimates mainly due to good irradiation conditions in Cerveteri compared to lower irradiation in the rest of our Italian PV plants.
  • Net solar production year-to-date was in line with budget and the same period last year.


Read the PDF file

 

6/2016: Minutes of Annual General Meeting 2016

Posted by in Company Announcements | 0 comments

The Annual General Meeting of Greentech Energy Systems A/S was held today.

The shareholders at the General Meeting adopted the Board of Directors’ report on the activities,
the Annual Report for 2015 and the distribution of the result for the year as proposed in the
Financial Statements.

 

Read the PDF file

 

 

5/2016: Announcement of significant position

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S has been informed by Pirelli & C. S.p.A. and Intesa San Paolo S.p.A. that they have become shareholders of the Company and now hold respectively
12,720,374 shares, equivalent to 11.93% of the shares in the Company, and 9,425,292 shares, equivalent to 8.84% of the shares in the Company.

Moreover, GWM Renewable Energy II S.p.A has reduced its ownership to a total of 54,109,944 shares, equivalent to 50.72% of the shares in the Company.


Read the PDF file

 

4/2016: Sale of Polish development projects

Posted by in Company Announcements | 0 comments

Today, Greentech Energy Systems A/S, sold three of its Polish wind projects: Parnowo, Ustka and Smolęcin to a subsidiary of EDF EN POLSKA SP. Z.O.O owned by EDF Energies Nouvelles, a leading French renewable energy Group with more than 9 GW of renewable energy worldwide.

The closing of the transaction has occurred today.

The three projects combined amount to a total of 108MW (see also Company Announcement No. 16/2015 for the agreement signed last December).

The sale included the transfer of the Project Companies with the intention of further development and future construction of the projects.

The total value of the transaction for the three wind projects is EUR 5.4M.


Read the PDF file

 

 

Notice of Annual General Meeting 2016

Posted by in Company Announcements | 0 comments

Pursuant to article 8 of the articles of association, notice is given that the Annual General Meeting of Greentech Energy Systems A/S will be held on Wednesday, 13 April 2016 at 3.00 pm, at Radisson Blu Royal Hotel, Hammerichsgade 1, 1611 Copenhagen V, Denmark

 

Read the Notice

Read the Complete Proposals

 

 

Annual Report for 2015

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S publishes its Annual Report for 2015:

Highlights:

  • Profit for the period of EUR 1.3M compared to EUR -24.4M in 2014
  • Net production of 354.1 GWh compared to 374.9 GWh in 2014 (- 6%)
  • Revenue of EUR 59.2M compared to EUR 64.4M in 2014 (- 8%) including revenue from Associates
  • EBITDA margin including Associates and excluding Special Items of 64% compared to 65% in 2014
  • Total cash flow from continuing operations of EUR 1.3M compared to EUR – 1.0M in 2014
  • Environment Protection: Gross Production in 2015 supplied 138,000 families, reduced the CO2 emissions by approx. 222,000 tons equaling the elimination of emissions from more than 90,000 cars.

 

 

Read the PDF file

 

 

3/2016: Monthly Update for February 2016

Posted by in Company Announcements | 0 comments

Wind

  • In February 2016, the total wind production was 30% above estimates.
  • In particular, due to favourable wind conditions production was higher than expected in Italy (+35%),
    Spain (+23%) and especially in Germany (+50%). In Denmark and Poland the production was below estimates due to low wind speed.
  • Net wind production year-to-date was considerably higher than budget (+17%) and the same period last year (+13%).

 

Solar

  • In February 2016, the solar production was 9% above estimates.
  • In particular, the average irradiation was higher than expected in Italy, raising the solar production by +16% compared to estimates. In Spain, the solar production was lower than expected (-12%) due to a lower average irradiation.
  • Net solar production year-to-date was fairly higher than budget (+5%) but lower than the same period last year.

 

Read the PDF file

 

 

2/2016: Monthly Update for January 2016

Posted by in Company Announcements | 0 comments

Wind

  • In January 2016, the total wind production was 4% above estimates.
  • Due to favourable wind conditions, production was higher than expected in Italy in general (+12%) and in the Monte Grighine plant in particular, which delivered a production 28% higher than the same period in 2015.
    In the rest of our countries the production was below estimates due to low wind speed.

 

Solar

  • In January 2016, the solar production was in line with estimates.
  • In particular, the average irradiation was in line with expectations in Italy but lower than expected in Spain.

 

Read the PDF file

 

 

1/2016: Monthly Update for December 2015

Posted by in Company Announcements | 0 comments

Wind

  • In December 2015, the total wind production was below estimates.
  • In particular, the production from Italy and Spain was considerably below expectations due to extremely poor wind conditions across Southern Europe.
    On the contrary, production from Denmark (+6%) and especially from Germany (+45%) and Poland (+42%) was higher than expected due to good wind conditions.
  • In 2015, the wind portfolio reached a total gross production of approx. 350 GWh, -8% compared to 2014.

 

Solar

  • In December 2015, the solar production was 25% higher than estimated.
  • In particular, due to higher irradiation, the Italian and Spanish solar plants performed significantly above budget: 28% and 15% respectively.
  • In 2015, the solar portfolio generated a gross production of 66 GWh, in line with 2014.

 

Overall, in 2015, Greentech production has not reached the Outlook announced in the Annual Report of 2014, primarily due to the less favourable wind conditions in Southern Europe during the second half of the year.

 

Read the PDF file

16/2015: Agreement for the sale of Polish Projects

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S signs an agreement for the sale of 4 Polish wind farm projects with EDF Energies Nouvelles.

Greentech Energy Systems A/S and EDF Energies Nouvelles (through its subsidiary EDF EN POLSKA SP. Z.O.O.) entered into an agreement for the sale of 4 Polish wind farm projects amounting to a total of 120MW (Parnowo, Ustka, Puck and Smolęcin).

After the satisfaction of some conditions precedent, EDF EN POLSKA will own 100% of the Project Companies and take over all further development activities and related expenses. The acquisition is expected to be completed within the first semester of 2016.

 

 

Read the PDF file

15/2015: Monthly Update for November 2015

Posted by in Company Announcements | 0 comments

Wind

  • In November 2015, the total wind production was 9% below estimates.
  • In particular, Italy, Denmark, Poland and Spain were all affected by low wind speed. On the contrary, our German wind farm was affected by good wind conditions and delivered a production considerably higher (+59%) compared to estimates and extremely higher (+175%) compared to November 2014.
  • Year-to-date figures are slightly lower than expected and in line with the year-earlier period.

 

Solar

  • In November 2015, the solar production was 11% higher than estimated.
  • In particular, the average irradiation was higher than expected especially in Spain, raising the solar production by +30% compared to estimates and by +44% compared to November 2014.
  • Year-to-date figures are in line with expected levels and with the year-earlier period.

 

Read the PDF file

14/2015: Monthly Update for October 2015

Posted by in Company Announcements | 0 comments

Wind

  • In October 2015, the total wind production was below estimates due to overall bad wind conditions across Europe.
  • However, production figures are considerably higher compared to October 2014 (+20%) since wind conditions all around Europe were even worst in same period last year.
  • Year-to-date figures are in line with expected levels and with the year-earlier period.

 

Solar

  • In October 2015, the solar production was lower than estimated.
  • The average irradiation was lower than expected both in Spain and in Italy.
  • Year-to-date figures are in line with expected levels and with the year-earlier period.

 

Read the PDF file

Interim Financial Report – Q3 2015

Posted by in Company Announcements | 0 comments

Stable trend in financials for Q1-Q3 2015

  • 2% decrease in revenue to EUR 41.3M
  • 4% decrease in EBITDA to EUR 22.3M*
  • 2% decrease in revenue to EUR 51.1M, including revenue from associates
  • 4% decrease in EBITDA to EUR 29.4M, including EBITDA from associates

*Adjusted for Income from Associates

 

Stable production trend in Q1-Q3 period despite poor wind conditions in Q3 2015

  •  -2% in total net production in Q1-Q3 2015 vs last year: 291 GWh
  • +2% in actual wind production vs. estimates
  • +2% in actual solar production vs. estimates

 

Events occurred after 30 September 2015

  • In November 2015, as anticipated in the Annual Report 2014, Greentech officially filed a request for arbitration against the Kingdom of Spain pursuant the Energy Charter Treaty

 

Read the PDF file

13/2015: Monthly Update for September 2015

Posted by in Company Announcements | 0 comments

Wind

  • In September 2015, the total wind production was below estimates due to overall bad wind conditions across Europe.
  • Nevertheless, production figures are higher than the same period last year (+9%) since wind conditions all around Europe in September 2014 were even worst.
  • Year-to-date figures are in line with expected levels and with the year-earlier period.

 

Solar

  • In September 2015, the solar production was slightly lower than expected and in line with September 2014.
  • The average irradiation was fairly lower than expected in Italy and almost as forecasted in Spain.
  • Year-to-date figures are in line with expected levels and with the year-earlier period.

 

Read the PDF file

12/2015: Monthly Update for August 2015

Posted by in Company Announcements | 0 comments

Wind

  • In August 2015, the total wind production was below estimates.
  • In particular, the production from all our Countries was lower than expected due to overall bad wind conditions across Europe. For this reason, our wind farms in Germany, Poland and Denmark delivered a production significantly lower compared to August 2014.
  • Year-to-date figures are slightly higher than expected and in line with the year-earlier period.

 

Solar

  • In August 2015, the solar production was lower than estimated.
  • The average irradiation was lower than expected both in Spain and in Italy.
  • Year-to-date figures are in line with expected levels and with the year-earlier period.

 

Read the PDF file

11/2015: Monthly Update for July 2015

Posted by in Company Announcements | 0 comments

Wind

  • In July 2015, the total wind production was below estimates.
  • Due to favourable wind conditions, production was higher than expected in Poland (+60%) and especially in Denmark (+77%), where the Oppelstrup plant delivered a production extremely higher (+179%) compared to the same period in 2014.
    On the other hand, in Spain and Italy the production was below estimates due to low wind speed.
  • Year-to-date figures are fairly higher than expected (+5%) and in line with those from July 2014.

 

Solar

  • In July 2015, the combined solar production was slightly higher than expected.
  • In particular, the average irradiation in Italy was higher than expected, raising the solar production by 5% compared to July 2014, while Spain registered irradiation in line with estimates.
  • Net solar production year-to-date was higher than budget (+5%) and in line with the year-earlier period.

 

Read the PDF file

10/2015: Announcement of significant position

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S has today been informed as follows by GWM SIF:

“In accordance with the rules of Section 29 of the Danish Securities Trading Act we hereby notify you that we today have acquired an additional shareholding of 50,000 shares in Greentech Energy Systems A/S. Following the acquisition we hold a total of 5,373,253, equivalent to 5.04% of the shares in the company, and thus have exceeded the 5% threshold. We have simultaneously herewith reported the transaction to the Danish Financial Supervisory Authority.”

 

Read the PDF file

Interim Financial Report – Half Year 2015

Posted by in Company Announcements | 0 comments

Positive trend in financials for H1 2015

  • Profit year to date 2015
  • 4% increase in revenue to EUR 30.1M
  • 6% increase in EBITDA to EUR 17.2M*
  • 4% increase in revenue to EUR 37.4M, including revenue from associates
  • 7% increase in EBITDA to EUR 22.8M, including EBITDA from associates

* Adjusted for Income from Associates

Positive trend in the production performance compared to estimates in H1 2015

  • 56% of the total expected annual net production has been already generated in H1 2015
  • +3% in total net production in H1 2015 vs H1 2014: 220 GWh
  • +7% in actual wind production vs. estimates
  • +5% in actual solar production vs. estimates

 

Events occurred after 30 June 2015

  • In July 2015, Greentech sold its 50% stake of the Tiefenthal wind plant to its co-shareholder Nordenergie A/S
  • In July 2015, as anticipated in the Annual Report 2014, Greentech officially filed a request for arbitration against the Republic of Italy pursuant the Energy Charter Treaty

 

 

Read the PDF File

09/2015: Monthly Update for June 2015

Posted by in Company Announcements | 0 comments

Wind

  • In June 2015, the total wind production was below estimates.
  • In particular, due to poor wind conditions, production was lower than expected in almost all our countries except for Denmark (+43%), where the Danish turbines delivered a production extremely higher (+162%) compared to the same period in 2014.
  • Year-to-date figures are fairly higher than expected (+7%) and in line with those from June 2014 (+3%).

 

Solar

  • In June 2015, the combined solar production was in line with expectations.
  • In particular, the average irradiation was in line with estimates both in Italy and Spain.
  • Net solar production year-to-date was higher than budget (+5%) and in line with the year-earlier period.

 

 

 

Read the PDF file

08/2015: Sale of German joint-ventures

Posted by in Company Announcements | 0 comments

Greentech sells its 50% stake of Wormlage and Tiefenthal wind plants to Nordenergie A/S.

 

In the context of the continuous improvement of its activities, Greentech has decided to sell its interest in the German joint-ventures to the current co-shareholder Nordenergie A/S, a subsidiary of Brancor Capital Partners ApS.

 

The closing of the transaction took place today for Wormlage and should take place during July 2015 for Tiefenthal.

 

The two wind farms combined consist of 9 turbines with a total capacity of 13.5 MW.

 

The total price of the transaction for the 50% stake of the two plants is EUR 4,379,401.

 

 

 

Read the PDF file

07/2015: Monthly Update for May 2015

Posted by in Company Announcements | 0 comments

Wind

  • In May 2015, the total wind production was in line with estimates.
  • In particular, due to favourable wind conditions, production was higher than expected in almost all our countries and especially in Poland (+39%), Germany (+23%) and in Denmark (+22%), where the Danish turbines delivered a production extremely higher (+211%) compared to the same period in 2014. In Italy the production was considerably below estimates due to low wind speed.
  • Year-to-date figures are fairly higher than expected (+10%) and slightly above those from May 2014 (+4%).

 

 

Solar

  • In May 2015, the combined solar production was 5% above expectations.
  • In particular, the average irradiation was higher than expected in Spain, raising the solar production by +13% compared to estimates. In Italy, the solar production was in line with estimates.
  • Net solar production year-to-date was higher than budget (+6%) and slightly higher than the year-earlier period (+4%).

 

 

Read the PDF file

06/2015: Monthly Update for April 2015

Posted by in Company Announcements | 0 comments

Wind

  • In April 2015, the total wind production was slightly below estimates.
  • On one hand, due to favourable wind conditions, production was higher than expected in Denmark (+29%) and especially in Poland (+86%), where the Polczyno plant delivered a production extremely higher (+227%) compared to the same period in 2014.
    On the other hand, in Spain, Germany and Italy the production was below estimates due to low wind speed.
  • Year-to-date figures are considerably higher than expected (+13%) and fairly above those from April 2014 (+4%).


Solar

  • In April 2015, the combined solar production was 10% above expectations and 12% higher than in April 2014.
  • In particular, the average irradiation was higher than expected in Italy, raising the solar production by +12% compared to estimates and by 15% compared to April 2014. In Spain, the solar production was in line with estimates (+2%).
  • Net solar production year-to-date was higher than budget (+7%) and fairly higher than the year-earlier period (+5%).

 

 

 Read the PDF file

Interim Financial Report – Q1 2015

Posted by in Company Announcements | 0 comments

Positive trend in financials for Q1 2015

  • Profit year to date 2015
  • 6% increase in revenue to EUR 15.3M
  • 19% increase in EBITDA to EUR 10.0M*
  • 8% increase in revenue to EUR 19.6M, including revenue from associates
  • 19% increase in EBITDA to EUR 13.4M, including EBITDA from associates

* Adjusted for Income from Associates

 

Positive production trend

  • 32% of the total expected annual net production has been already generated in Q1 2015
  • +7% in total net production in Q1 2015 vs Q1 2014: 128 GWh
  • Actual wind production vs. estimates: +18% in Q1 2015
  • Actual solar production vs. estimates: +5% in Q1 2015

 

 

 

Read the PDF File

05/2015: Minutes of Annual General Meeting 2015

Posted by in Company Announcements | 0 comments

The Annual General Meeting of Greentech Energy Systems A/S was held today.

The shareholders at the General Meeting adopted the Board of Directors’ report on the activities, the Annual Report for 2014 and the distribution of the result for the year as proposed in the Financial Statements.

 

 Read the announcement

04/2015: Monthly Update for March 2015

Posted by in Company Announcements | 0 comments

Wind

  • In March 2015, the total wind production was 30% above estimates and 32% higher than in March 2014.
  • In particular, due to extraordinary favourable wind conditions, the Italian and Spanish wind farms performed significantly above budget: by 41% and 37% respectively. Furthermore, production in Italy was 47% higher than the same period of last year. On the other hand, production in Poland and Denmark was lower than expected due to low wind speed while production in Germany was in line with estimates but 31% higher compared to March 2014.
  • Year-to-date figures are considerably higher than expected (+18%) and fairly above those from March 2014 (+ 7%).

 

Solar

  • In March 2015, the total solar production was in line with estimates.
  • In particular, the average irradiation was higher than expected in Spain, raising the solar production by +14% compared to estimates. In Italy, the solar production was slightly lower than expected (-7%) due to a lower average irradiation.
  • Net solar production year-to-date was slightly higher than budget (+5%) and in line with the same period last year (+2%).

 

 Read the PDF file

Notice of Annual General Meeting 2015

Posted by in Company Announcements | 0 comments

Pursuant to article 8 of the articles of association, notice is given that the Annual General Meeting of Greentech Energy Systems A/S
will be held on Wednesday, 15 April 2015 at 3.00 pm,
at Radisson Blu Royal Hotel, Hammerichsgade 1, 1611 Copenhagen V, Denmark

 

Read the PDF file

Annual Report 2014

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S publishes its Annual Report for 2014.

Highlights:

  • Net production  of 387.5 GWh compared to 405.2 GWh in 2013 (- 4%)
  • Revenue of EUR 69.1M compared to EUR 75.4M in 2013 (- 8%) including revenue from Associates
  • EBITDA of EUR 41.0M compared to EUR 45.4M in 2013 (- 10%) including EBITDA from Associates and excluding Special Items
  • EBITDA margin including Associates and excluding Special Items of 59% and of 65% excluding Environment
  • Environment Protection: Gross Production in 2014 supplied approx. 156,000 families, reduced the CO2 emissions by approx. 250,000 tons equaling the elimination of emissions from more than 100,000 cars

 

Read the Annual Report – PDF

 

 

03/2015: Monthly Update for February 2015

Posted by in Company Announcements | 0 comments

Wind

  • In February 2015, the total wind production was in line with estimates.
  • In particular, our wind plants in Poland and in Germany were affected by low wind speed while in Spain the production was in line with estimates. On the contrary, the Italian and Danish turbines delivered a production slightly higher than expected: by 3% and 5%respectively.
  • Year-to-date figures are fairly higher than expected (+12%) and slightly below those from February 2014 (-4%).

 


Solar

  • In February 2015, the total solar production was 13% above estimates.
  • In particular, the average irradiation was higher than expected in Italy, raising the solarproduction by +16% compared to estimates. In Spain, the solar production was slightly higher than expected (+4%) and considerably higher than in February 2014 (+37%) due to a higher average irradiation.
  • Net solar production year-to-date was fairly higher than budget (+11%) and the same period last year (+17%).

 

Read the PDF file

 

 

 

02/2015: Monthly Update for January 2015

Posted by in Company Announcements | 0 comments

Wind

  • In January 2015, the total wind production was 25% above estimates.
  • In particular, due to favourable wind conditions across Europe, the Italian and German wind farms performed significantly above budget: 28% and 26% respectively. Danish and Polish wind farms performed lower than the same period last year, primarily due to extraordinary favourable wind conditions in the two countries in January 2014.

 


Solar

 

  • In January 2015, the total solar production was 10% above estimates and 31% higher than in January 2014.
  • The average irradiation was higher than expected especially in Spain, raising the solar production by +20% compared to estimates.

 

 

Read the PDF file

 

 

 

01/2015: Monthly Update for December 2014

Posted by in Company Announcements | 0 comments

Wind

 

  • In December 2014, the total wind production was 14% below estimates.
  • Due to extremely favourable wind conditions across Northern Europe, the production from the German (+23%), Danish (+12%) and especially Polish (+42%) wind farms was significantly above expectations. The Italian and Spanish wind farms delivered a production below the expected level. The total production was 28% higher than December 2013.
  • In 2014, the Greentech wind portfolio reached a total gross production of approx. 404 GWh, -6% compared to 2013.

 


Solar

 

  • In December 2014, the solar production was fairly higher than expected (+10%).
  • The average irradiation was higher than expected especially in Spain, raising the solar production by +24% compared to estimates.
  • In 2014, the solar portfolio generated a gross production of 65 GWh, in line with 2013.

 

Overall, in 2014, Greentech production has reached the revised outlook published in December 2014.

 

Read the PDF file

 

 

 

17/2014: Monthly Update for November 2014

Posted by in Company Announcements | 0 comments

Wind

  • In November 2014, the total wind production was 9% below estimates.
  • Due to poor wind conditions across Europe, almost all our wind farms delivered a production lower than November 2013. In Italy, the production nearly reached the budget mainly due to Energia Alternativa contribution (+19%).
  • Year-to-date figures are in line with expectations and lower than the year-earlier period due to extraordinary favourable wind conditions in Italy and Spain over the same period in 2013.


Solar

  • In November 2014, the solar production was slightly lower than estimated.
  • The average irradiation was lower than expected both in Italy and Spain.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

Read the PDF file

 

 

 

16/2014: Revised full-year guidance for 2014

Posted by in Company Announcements | 0 comments

In the Q3 Interim Report for 2014, published on 12 November 2014, Greentech confirmed the Outlook for 2014.

Unfortunately, a negative volume-effect, due to less favorable weather conditions in October and November, added up to the decline in energy prices that Greentech has been experiencing during 2014.


Read the full announcement in the PDF file

 

 

 

15/2014: Notification of transactions in Greentech Energy Systems A/S’ shares

Posted by in Company Announcements | 0 comments

Notification of transactions in Greentech Energy Systems A/S’ shares and other securities linked to such shares, carried out by executive employees and close relations of executive employees.

 

Read the PDF file

 

14/2014: Monthly Update for October 2014

Posted by in Company Announcements | 0 comments

Wind

  • In October 2014, the total wind production was significantly below estimates.
  • In particular, the production from all our Countries was lower than expected due to overall bad wind conditions across Europe. For this reason, our wind farms in Germany, Italy and Spain delivered a production significantly lower compared to October 2013.
  • Year-to-date figures are in line with expectations and slightly lower than the year-earlier period due to extraordinary favourable wind conditions in Italy and Spain over the same period in 2013.


Solar

  • In October 2014, the solar production was slightly lower than estimated.
  • The average irradiation in Italy was lower than expected, while Spain experienced higher irradiation raising the solar production by +11% compared to October 2013 and by +6% compared to estimates.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

 

Read the PDF file

 

Interim Financial Report – Q3 2014

Posted by in Company Announcements | 0 comments

Decline in financials for Q1-Q3 2014

  • Loss year to date 2014, mainly due to the impairment of assets
  • 7% decrease in revenue to EUR 42.3M
  • 8% decrease in EBITDA to EUR 23.2M*
  • 11% decrease in revenue to EUR 52.2M, including revenue from associates
  • 13% decrease in EBITDA to EUR 30.5M, including EBITDA from associates

 

Positive production trend despite average weather conditions in Q3 2014

  • +20% in total net production in Q3 2014 vs Q3 2013: 84 GWh
  • -3% in total net production over Q1-Q3 2014 vs last year, due to lower wind conditions in Spain and Italy: 298 GWh
  • +28% in actual wind production vs. estimates
  • actual solar production in line with estimates

 

Events occurred after 30 September 2014

  • On October the 29th 2014, Mr. Alessandro Reitelli was appointed as new CEO of the Group and continues as COO ad interim.

Mr. Francesco Vittori was appointed as new CFO of the Group

 

Read the PDF File

13/2014: Changes in Management Board

Posted by in Company Announcements | 0 comments

Mr. Sigieri Diaz della Vittoria Pallavicini, CEO of Greentech Energy Systems A/S, has informed the board that he wishes to resign from his position with effect as from today in order to pursue new challenges in his career.

As a consequence of this The Board of Directors has made the following changes to the Management Board:

  • Mr. Alessandro Reitelli, currently CFO and COO ad interim, replaces Mr. Sigieri Diaz della Vittoria Pallavicini and takes up the position as CEO of the Group. He will continue to hold his position as COO ad interim (click here for the cv).
  • Mr. Francesco Vittori, currently Planning & Control Manager, replaces Mr. Alessandro Reitelli and takes up the position as new CFO of the Group (click here for the cv).

 

Read the Announcement

12/2014: Monthly Update for September 2014

Posted by in Company Announcements | 0 comments

Wind

  • In September 2014, the total wind production was below estimates.
  • In particular, Denmark, Germany, Poland and Spain were all affected by low wind speed. On the contrary, our Italian wind farms performed in line with budget and fairly higher if compared to September 2013.
  • Year-to-date figures are slightly higher than expected.

 

Solar

  • In September 2014, the solar production was lower than estimated.
  • The average irradiation was lower than expected both in Spain and in Italy.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

 

 

Read the PDF file

11/2014: Monthly Update for August 2014

Posted by in Company Announcements | 0 comments

Wind

  • In August 2014, the total wind production was in line with estimates and 18% higher than in August 2013.
  • Due to favourable wind conditions, production was higher than expected in Denmark (+10%) and in Poland (+9%), where the Polczyno plant delivered a production considerably higher (+32%) than the same period in 2013.
    In Italy and Germany the production was in line with estimates, while in Spain the Conesa wind farm performed below budget due to low wind speed.
  • Year-to-date figures are fairly higher than expected (+8%).

 

Solar

  • In August 2014, the solar production was in line with budget and fairly higher than in August 2013 (+7%).
  • The average irradiation was in line with expectations both in Spain and in Italy.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

 

 

Read the PDF file

 

10/2014: Monthly Update for July 2014

Posted by in Company Announcements | 0 comments

Wind

  • In July 2014, the total wind production was 31% above estimates and 81% higher than in July 2013.
  • In particular, due to extraordinary favourable wind conditions, the Italian and Spanish wind farms performed significantly above budget: by 58% and 13% respectively. Furthermore, production in Italy was 134% higher than the same period of last year.
  • Year-to-date figures are fairly higher than expected: + 8%.

 

Solar

  • In July 2014, the solar production was in line with budget and slightly lower than in July 2013.
  • The average irradiation was slightly lower than expected in Spain and almost as forecasted in Italy.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

 

 

Read the PDF file

 

Interim Financial Report – Half Year 2014

Posted by in Company Announcements | 0 comments

 
Stable trend in financials for H1 2014

  • Moderate loss year to date 2014
  • 13% decrease in revenue to EUR 28.9M
  • 19% decrease in EBITDA to EUR 16.3M*
  • 15% decrease in revenue to EUR 35.9M, including revenue from associates
  • 22% decrease in EBITDA to EUR 21.4M, including EBITDA from associates

    * Adjusted for Income from Associates

 

Positive trend in the production performance compared to estimates in H1 2014

  • +6% in actual wind production vs. estimates
  • +2% in actual solar production vs. estimates
  • More than 50% of the total expected annual net production has been already generated in H1 2014

 

Read the PDF File

9/2014: Monthly Update for June 2014

Posted by in Company Announcements | 0 comments

Wind

  • In June 2014, the total wind production was below estimates.
  • In particular, due to poor wind conditions all around Europe, the production generated in all our five countries was below expected level, especially in Denmark and Germany.
  • Year-to-date figures are fairly higher than expected (+6%), but below those from the same period of last year, primarily due to extraordinary favourable wind conditions in Italy in June 2013.

 

Solar

  • In June 2014, the solar production was in line with budget and the year-earlier period.
  • The average irradiation was slightly higher than expected in Italy and almost as forecasted in Spain.
  • Year-to-date figures are in line with expected levels and slightly higher than in June 2013.

 

 

Read the PDF file

8/2014: Monthly Update for May 2014

Posted by in Company Announcements | 0 comments

Wind

  • In May 2014, wind production was slightly below estimates.
  • On one hand, due to favourable wind conditions, production was higher than expected in Spain (+7%) and especially in Poland (+24%), where the Polczyno plant delivered a production considerably higher (+57%) compared to the same period in 2013. On the other hand, in Denmark, Germany and Italy the production was below estimates due to low wind speed.
  • Year-to-date figures are fairly higher than expected (+8%).

 

 Solar

  • In May 2014, the solar production was slightly higher than expected.
  • In particular, due to higher irradiation, Spanish plants registered a production increase fairly above expected levels (+13%) while solar production in Italy was in line with estimates.
  • Year-to-date figures are in line with expected levels and higher than the year-earlier period (+6%).

 

 

Read the PDF file

7/2014: Monthly Update for April 2014

Posted by in Company Announcements | 0 comments

Wind

  • In April 2014, wind production was in line with estimates.
  • In particular, due to favourable wind conditions, production was slightly higher than expected both in Italy (+3%) and in Spain (+5%), where the Conesa plant delivered a production considerably higher (+ 43%) compared to the same period in 2013.
    In Poland, Denmark and Germany the production was below estimates due to low wind speed.
  • Year-to-date figures are fairly higher than expected (+ 11%).

 

 Solar

  • In April 2014, due to lower average irradiation, solar production figures were slightly lower than estimated in Italy and in line with budget in Spain.
  • Year-to-date figures are in line with expected level and slightly higher than the year-earlier period.

 

Read the PDF file

Interim Financial Report – First Quarter 2014

Posted by in Company Announcements | 0 comments

Stable trend in financials for Q1 2014

  • Profit year to date 2014
  • 11% decrease in revenue to EUR 14.4M for 2014
  • 15% decrease in EBITDA to EUR 8.4M*
  • 12% decrease in revenue to EUR 18.1M for 2014, including revenue from associates
  • 14% decrease in EBITDA to EUR 11.3M for 2014, including EBITDA from associates

*Adjusted for Income from Associates

Positive trend in the production performance

  • More than 1/3 of the total expected annual net production has been already generated in Q1 2014
  • Actual wind production vs. estimates: +14% in Q1 2014
  • Actual solar production vs. estimates: + 1% in Q1 2014

Events occurred after 31 March 2014

  • At the Annual General Meeting held on 15 April 2014,Mrs. Michèle Bellon was elected as new member to the Board of Directors

 

Read the PDF File

6/2014: Minutes Annual General Meeting

Posted by in Company Announcements | 0 comments

The Annual General Meeting of Greentech Energy Systems A/S was held today.

The shareholders at the General Meeting adopted the Board of Directors’ report on the activities, the Annual Report for 2013 and the distribution of the result for the year as proposed in the Financial Statements.

Read the announcement

 

5/2014: Monthly Update for March 2014

Posted by in Company Announcements | 0 comments

Wind

  • In March 2014, the overall wind conditions were quite favourable with a production slightly higher than expected, while year-to-date figures are fairly lower compared to the same period of 2013.
  • In particular, March production of the Spanish wind farm was 29% above expectations due to favourable wind conditions. The production in Italy and Denmark was in line with expected level while the Polish and German turbines delivered a production below estimated level being affected by low wind speed.

 

Solar

  • In March 2014, the combined solar production was 13% above expectations and 31% higher than in March 2013 due to higher irradiation.
  • In particular, Spanish and Italian plants registered an important production increase of 42% and 29% respectively compared to March 2013.
  • Year-to-date figures are in line with expected level and slightly higher than the year-earlier period.

 

Read the PDF file

Notice of Annual General Meeting 2014

Posted by in Company Announcements | 0 comments

Pursuant to article 8 of the articles of association, notice is hereby given that the Annual General Meeting of Greentech Energy Systems A/S
will be held on Tuesday, 15 April 2014 at 3.00 pm at IDA Conference Centre, Kalvebod Brygge 31 – 33, 1780 Copenhagen V, Denmark.

 Read the notice – PDF

Annual Report 2013

Posted by in Company Announcements | 0 comments

The results achieved by Greentech outperformed the expectations for 2013 announced in March 2013 on almost all parameters.

Highlights 2013:

    Net production  of 405.2 GWh compared to 361.2 GWh in 2012 = + 12%
    Revenue including revenue from Associates of EUR 75.3M compared to EUR 70.7M in 2012 = + 7%
    EBITDA including EBITDA from Associates of EUR 45.4M compared to EUR 38.6M in 2012 = + 18%
    EBITDA margin of 60% including Associates and of 62% including Associates and excluding Environment
    Environment Protection: Gross Production in 2013 was equivalent to the power consumption of 164,000 households,
    saved 673,000 barrels of oil and avoided the emission of 261,000 tons of CO2.

 

This year Greentech published the Annual Report 2013 in English.

 

Read the Annual Report

4/2014: Monthly Update for February 2014

Posted by in Company Announcements | 0 comments

Wind

  • In February 2014, the overall wind conditions were quite favourable, with a production significantly higher than expected.
  • In particular, the German (+42%), Italian (+10%) and Spanish (+15%) projects experienced good wind conditions, performing considerably above expected level. The Polish turbines delivered a production below estimated level being affected by low wind speed, while the Danish wind farms nearly reached the budget.
  • Net wind production showed an increase of 9% compared to February 2013, while year-to-date figures are in line with the 2013 level.

 

Solar

  • In February 2014, the solar production was in line with expectations.
  • The average irradiation in Italy was higher than expected, raising the solar production by 7% compared to February 2013, while Spain registered irradiation lower than estimated.
  • Year-to-date net solar production was slightly lower compared to the same period of 2013.

 

Read the PDF file

Company Announcement No. 3/2014: Interim Report – Q4 2013

Posted by in Company Announcements | 0 comments

Positive trend in financials confirmed

  • Year to date 2013 profit of EUR 1.4M
  • 23% increase in revenue to EUR 73.9M for 2013
  • 41% increase in EBITDA to EUR 44.6M
  • 6.5% increase in revenue to EUR 75.3M for 2013, including revenue from associates
  • 18% increase in EBITDA to EUR 45.4M for 2013, including EBITDA from associates

Stabilization in the production performance despite lower Q4

  • Total production generated in Q4 2013: 98 GWh (net) – down 3 %
  • Total production generated in 2013: 405 GWh (net) – up 12 %

Stable Outlook for 2014

  • Net production: 390 – 400 GWh
  • Revenue (including associates): EUR 71 – 76M
  • EBITDA (including associates): EUR 40 – 42M

 

Read the PDF file

2/2014: Monthly Update for January 2014

Posted by in Company Announcements | 0 comments

Wind

  • Greentech’s wind plants had an excellent beginning of the year. In January 2014, the extraordinary wind conditions across Europe brought the production 27% above expected level .
  • In particular, the Danish wind farms and the Polish plant performed significantly above budget, largely exceeding expectations: by 57% and 73% respectively.

 

 Solar

  • In January 2014, solar production figures were lower than estimated since the average irradiation in both Italy and Spain was considerably below expected level.

 

 

Read the announcement

1/2014: Monthly Update for December 2013

Posted by in Company Announcements | 0 comments

Wind
 

  • In December 2013, due to extremely favourable wind conditions across Northern Europe, the production from the German, Danish and Polish wind farms was significantly above expectations. The Italian and Spanish turbines delivered a production below the estimated level, being affected by low wind speeds.
  •  In 2013, the Greentech wind portfolio reached a total gross production of approx. 430 GWh, +14% compared to 2012. In particular, the Italian wind farms performed very well showing an increase of 26% compared to 2012.

 

Solar
 

  • In December 2013, the solar irradiation in Italy and Spain was higher than expected, raising the solar production with + 13% compared to December 2012.
  •  In 2013, the solar portfolio generated a gross production of 64 GWh, in line with 2012.
  •  In December 2013, Greentech completed the acquisition of a 0.70 MW solar plant, Alessano Strutture, located in Apulia, Italy. Consequently, Greentech’ solar gross installed capacity has reached 43 MW.

 

Overall, in 2013, Greentech has outperformed the outlook of production mainly due to extraordinary favourable wind conditions in Southern Europe.

 

Read the announcement

 

23/2013: Monthly update for November 2013

Posted by in Company Announcements | 0 comments

Wind

  • In November 2013, wind production was 18% above budget and 44% higher than in November 2012.
  • The Spanish and Italian wind farms, especially in Sardinia, experienced quite favourable wind conditions, with a production significantly above budget.
  • Due to the poor wind conditions persisting in Northern Europe, the production from the German and Danish wind farms was below expectations, while the Polish nearly reached the budget.
  • Total 2013 year-to-date production shows an increase of 21% compared to the same period in 2012.

 
Solar

  • In November 2013, the solar plants generated a production slightly lower than budget but 15% higher compared to November 2012.
  • Italian plants experienced bad weather conditions with poor average solar irradiation, while Spain registered rather good irradiation.
  • Year-to-date performance of the solar plants is in line with expectations and very similar to the one from the same period in 2012.

 

Read the announcement

22/2013: Monthly update for October 2013

Posted by in Company Announcements | 0 comments

Wind

  • In October 2013, Greentech’s wind assets performed 12% above expectations.
  • The increase in production is related to favourable wind conditions in Italy and Spain bringing production to respectively 26% and 11% above the expected level. In particular, the Italian wind farms Minerva Messina and Monte Grighine experienced extraordinary good wind conditions: +63% and +27%.The production from Germany, Denmark and Poland was considerably below expectations due to extremely poor wind conditions across Northern Europe
  • The year-to-date total wind production is 19% higher compared to the same period of 2012.

Solar

  • The production from the solar plants in October 2013 was slightly below expected level due to variable irradiation both in Italy and Spain.
  • Year-to date figures are in line with estimates and with the same period of 2012.

 

Read the announcement

21/2013: Interim Report – Q3 2013

Posted by in Company Announcements | 0 comments

Positive trend in financials confirmed despite lower quarter

  • Year to date 2013 profit of EUR 2.6M
  • 12% increase in revenue to EUR 58.3M for Q1-Q3 2013, including revenue from associates
  • 23% increase in EBITDA to EUR 35.2M for Q1-Q3 2013, including EBITDA from associates

Positive production trend confirmed despite average irradiation

  • Total production generated in Q3 2013: 70 GWh (net) – down 5 %
  • Total production generated in Q1-Q3 2013: 307 GWh (net) – up 18 %
  • Actual wind production vs. estimates: +4 %
  • Actual solar production vs. estimates: -1 %

Full-year 2013 expectations maintained

  • Net production: 390 – 400 GWh
  • Revenue (including associates): EUR 76 – 82M
  • EBITDA (including associates): EUR 39.1 – 41.5M

 

Read the PDF file

20/2013: Monthly update for September 2013

Posted by in Company Announcements | 0 comments

Wind

  • The production from the Italian turbines nearly reached the budget mainly due to Monte Grighine contribution (+20%).
  • Due to overall bad wind conditions, the production from all the other countries was signifi-cantly lower than expected.
  • The year-to-date overall performance of the wind farms is still above expected level and significantly higher than last year (+21%).

Solar

  • The average irradiation in Italy was in line with the expected level, while Spain experienced low irradiation due to rain level significantly above the normal for the period.
  • The solar production in September 2013 for the Italian and Spanish projects was in line with expectations.

 

Read the announcement

19/2013: Monthly update for August 2013

Posted by in Company Announcements | 0 comments

 

Wind

  • Wind farms in all countries delivered a production below budget in August 2013, being affected by poor wind conditions prevailing in Europe.
  • In particular Denmark and Italy contributed in bringing the combined monthly production 8% higher compared to 2012 level.
  • Year-to-date figures are still ahead of expectations (+6%) and show an increase of 26% compared to 2012.

 

 Solar

  • In August 2013, solar production was 4% lower than budget and on a par with the production level of August 2012.
  • The average irradiation in Italy and Spain was in line with expectations, but the Italian plants were exposed to heavy rain causing instability and poor availability at the end of August.
  • The combined year-to-date figures are almost in line with expectations.

 

Read the announcement

 

18/2013: Monthly update for July 2013

Posted by in Company Announcements | 0 comments

 

Wind

  • In July, wind production was affected by poor weather conditions across Europe leading to a performance 31% below budget, with all countries, especially Italy and Germany, below expected level.  
  • Despite a general decrease in production compared to July 2012, Denmark and particularly Poland delivered monthly production above the 2012 level.
  • Year-to-date net production figures remain ahead of budget (+10%) thanks to the perform-ance of the Spanish and particularly of the Italian assets. In total, year-to-date figures show an increase of 28% compared to the 2012 level.

 

Solar

  • In July, solar production was 2 % ahead of budget with an average irradiation in line with expectations in both Italy and Spain.  
  • The monthly production showed an increase of 7% compared to July 2012, and the combined year-to-date figures are in line with budget. 

 

Read the announcement

 

17/2013: Interim Report – H1 2013

Posted by in Company Announcements | 0 comments

 

Positive trend in financials continues with significant profit improvement

  • H1 2013 profit of EUR 4.7M
  • 19% increase in revenue to EUR 42.5M for H1 2013, including revenue from associates
  • 33% increase in EBITDA to EUR 27.6M for H1 2013, including EBITDA from associates

 

Read the announcement

 

16/2013: Monthly update for June 2013

Posted by in Company Announcements | 0 comments

 
Wind
  • The June wind production confirms the general positive trend experienced during 2013.
  • The total wind production in June 2013 was 13 % above budget with favourable wind conditions in Italy, particularly in Sardinia.  Production from Germany, Denmark, Spain and especially Poland was below expected level, primarily due to poor wind conditions.
  • Net wind production showed an increase of 33% compared to June 2012. Year-to-date figures have increased by 34% compared to the 2012 level.

 

Solar
  • In June 2013, the total production from the solar plants was 4% above budget.
  • The average irradiation in Italy was in line with expectations, while Spain still experienced irradiation lower than forecasted.
  • Solar production showed an increase compared to June 2012. The combined year-to-date figures are almost in line with budget

 

Read the announcement

 

15/2013: Monthly update for May 2013

Posted by in Company Announcements, Senza categoria | 0 comments

 
Wind
  • The wind production in May 2013 was 16 % above budget primarily due to continuing favourable wind conditions in Spain and Italy, where particularly Minerva Messina performed significantly above expected level. Also the southern part of Germany experienced good wind conditions, while the northern part of Europe was still affected by poor wind conditions.
  • Net wind production showed an increase of 29% compared to May 2012. Year-to-date figures have increased by 33% compared to the 2012 level.
 
Solar
  • In May 2013, the production from the solar plants was almost in line with budget.
  • The average irradiation in Italy was in line with expectations subject to regional variations, while Spain still registered irradiation lower than expected.
  • The year-to-date figures are still slightly lower than expected.

14/2013: Monthly update for April 2013

Posted by in Company Announcements | 0 comments

 
Wind
  • The wind production in April 2013 was in line with budget with wind conditions above expectations in Italy and Germany while the Spanish wind farm delivered a production significantly lower than the estimated level.
  • The April 2013 wind production shows a decrease compared to April 2012 where production was, however, considerably above normal.
  • The year-to-date wind production is still significantly above budget.

 

Solar
  • In April 2013, the production from the solar plants was slightly below expected level, but higher than in April 2012.
  • Italian plants experienced good weather conditions with average irradiation higher than expected, while Spain registered low irradiation.
  • The year-to-date figures are still slightly lower than expected.
 
 

13/2013: Interim Financial Report – First Quarter 2013

Posted by in Company Announcements | 0 comments

 
Positive trend in financials for Q1 2013
  • 22% increase in revenue to EUR 20.5M for Q1 2013, including revenue from associates
  • 59% increase in EBITDA for Q1 2013 to EUR 12.9M
  • 27% increase in EBITDA to EUR 13.1M for Q1 2013, including EBITDA from associates
  • Q1 2013 profit of EUR 2.1M

 

Read the announcement

 

12/2013: Minutes Annual General Meeting

Posted by in Company Announcements | 0 comments

 
The Annual General Meeting of Greentech Energy Systems A/S was held today.
 
The shareholders at the General Meeting adopted the Board of Directors’ report on the activities, the Annual Report for 2012 and the distribution of the result for the year as proposed in the Financial Statements.
 

Read the announcement

 

11/2013 Monthly Update for March 2013

Posted by in Company Announcements | 0 comments

 
Wind
  • In March 2013, the production of Italian wind farms was approximately 50% above expectations due to extraordinarily favorable wind conditions in Sardinia and wind conditions above average in Sicily. Also the production in Spain, Germany and Poland was above estimated levels.
  • The total production generated in March 2013 is 28% above estimated level and shows an increase of over 90% compared to March 2012.
  • Due to the positive trend in wind conditions in Q1 2013, the year-to-date production is 20% above expectations.
 
Solar
  • In March 2013, the production from the solar plants was below expected level due to low irradiation both in Italy and Spain. Consequently, the year-to-date figures are slightly lower than expected.

 

Read the announcement

10/2013: Clarification on the description of Foresight Group

Posted by in Company Announcements | 0 comments

Clarification on the description of Foresight Group in connection with Greentech Energy Systems A/S’ Company Announcement No 6/2013

Notice of Annual General Meeting 2013

Posted by in Company Announcements | 0 comments

Pursuant to article 8 of the articles of association, notice is hereby given that the Annual General Meeting of Greentech Energy Systems A/S will be held on Thursday, 18 April 2013 at 3.00 pm at IDA Conference Centre, Kalvebod Brygge 31 – 33, 1780 Copenhagen V, Denmark.

9/2013: Notification of transactions in Greentech Energy Systems A/S’ shares

Posted by in Company Announcements | 0 comments

Notification of transactions in Greentech Energy Systems A/S’ shares and other securities linked to such shares, carried out by executive employees and close relations of executive employees.

Read the announcement – PDF

8/2013: Greentech Energy Systems A/S publishes its Annual Report for 2012

Posted by in Company Announcements | 0 comments

Greentech Energy Systems A/S publishes its Annual Report for 2012
HIGHLIGHTS
· + 24% Gross production of 444.2 GWh compared to 358.1 GWh in 2011
· + 25% Revenue* of EUR 70.7M compared to EUR 56.5M in 2011
· + 48% EBITDA* of EUR 38.6M compared to EUR 26M in 2011
· 2012 loss before tax of EUR 7.5M (loss before tax of EUR 4.0M, adjusted for non-recurring costs)
* 2011 are Pro-forma consolidated numbers. Figures for Revenue and EBITDA include Associates. EBITDA is adjusted for non-recurring costs.
OUTLOOK FOR 2013
· Net production: 390 – 400 GWh
· Revenues (incl. associates): EUR 76 – 82M
· EBITDA (incl. associates): EUR 39.1 – 41.5M

7/2013: Monthly Update For February 2013

Posted by in Company Announcements | 0 comments

Wind
Due to extraordinary favorable wind conditions in February 2013, the 3 Sardinian wind farms and the Spanish Conesa project generated production significantly above expected levels. The production from Germany, Denmark and Poland, however, was considerably below expectations due to extremely poor wind conditions across Northern Europe, also if compared to February 2012.
  • The year-to-date 2013 total wind production is 16 % higher than budget. The total production generated in February 2013 is 23 % higher compared to February 2012.
Solar
  • In February 2013, the solar plants in both Italy and Spain generated a production fairly higher than expectations (+9 %). The year-to-date figures are above expected level, despite registering a decrease compared to the same period of 2012.

Read the announcement – PDF