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Company Announcements

  • 10/2017: Monthly update for July 2017

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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