polyczyno_poland_upper

Highlights for 2010

Strong increase in power generation and revenue
– Revenue for 2010 was up 44.5 % to EUR 14.6M
– Total net output reached 163.4 GWh, an increase of 68.5 %.

Growth in capacity
– Net installed capacity at the end of the year increased by 143 % to166 MW from the end of 2009
– Commencement of diversification by venturing into solar projects.

New strong management team and Board of Directors
– In October 2010 a new, international Board of Directors was elected
– In November 2010 a new strong management team was introduced.

Result for 2010
– The result for 2010 adjusted to exclude special, non-cash items related to the write-down of pipeline projects held in the balance sheet and other group restructuring expenses amounts to a loss of EUR 3.9M. The result for 2010 including other special items amounts to a loss of EUR 52.1M.

Outlook for 2011
The Management currently foresees the following range of projections for 2011:
– Production of 240 – 250 GWh
– Revenues of EUR 21 – 24M
– EBITDA of EUR 15 – 18M