(ADPnews) - Nov 11, 2010 - Italian renewable energy investment company ErgyCapital (BIT:ECA) deepened its net losses both in the third quarter and the nine months of 2010, announcing a EUR-3.6-million (USD 4.95m) loss for the quarter, up from a loss of EUR 1.6 million for the same period of 2009.
Revenues jumped by 54% to EUR 3.4 million, the company said on Wednesday. The loss before interest, tax, depreciation and amortisation (LBITDA) came in at EUR 1.2 million, compared to the EUR-1.65-million loss a year ago. The operating loss went up to EUR 3.3 million from EUR 2 million. The pre-tax loss increased to EUR 4 million from EUR 2.25 million.
ErgyCapital booked EUR 7.5 million in net loss for the January to September period, up from the EUR 6.3 million loss for the same months of 2009. Sales stood at EUR 12.6 million, up by 34%. LBITDA stood at EUR 1.5 million, down from EUR 4.8 million in the same months of 2009. The operating loss rose to EUR 6.1 million from EUR 5.9 million.
The net debt stood at EUR 61.7 million compared with EUR 64 million at June 30, 2010.