polyczyno_poland_upper

Highlights FY 2012

Financials 2012 confirm Greentech’s positive trend
31% increase in net production to 361.2 GWh
28% increase in pro-forma consolidated revenue for 2012 to EUR 59.9 M
25% increase in pro-forma consolidated revenue for 2012 including revenue from associates to EUR 70.7 M
67% increase in pro-forma consolidated EBITDA for 2012 to EUR 31.7M adjusted for non-recurring costs
48% increase in pro-forma consolidated EBITDA for 2012 including EBITDA from associates to EUR 38.6M adjusted for non-recurring costs
– 2012 loss before tax of EUR 7.5M (loss of EUR 4.0M before tax adjusted for non-recurring costs)

Significant production increase and positive trend in weather conditions
– Total production generated in Q4 2012: 126 GWh (gross) – up 7%
– Total production generated in 2012: 444 GWh (gross) – up 24%
– Actual wind production vs. estimates +8% in Q4 2012 and -5% for the full year 2012
– Solar conditions above expected level for 2012

New CFO appointed
– In the end of November 2012, Alessandro Reitelli was appointed new CFO of Greentech and continues to hold the position as COO ad interim

Cagliari II project in full operation
– The Cagliari II project (Energia Alternativa) entered into full operation in mid-November 2012

New operational solar plants
– 3 solar plants with an aggregate capacity of approx. 2 MW were acquired from Pirelli Group in the end of December 2012

Events occurred after 31 December 2012
– In January 2013 Greentech has sold its 50% stake of the Wojciechowo project in Poland to the partner PGE Energia Odnawlalna S.A.
– The financing of the project Cagliari II for EUR 14.5M was completed on 18 February 2013