Falck Renewables' net profit more than trebles in H1 2015

Italian firm Falck Renewables SpA (BIT:FKR) saw its group net profit rise to EUR 8.7 million (USD 9.5m) in the first half of 2015 from EUR 2.7 million a year before.

The company said Tuesday that its performance in the period had been positively impacted by very favourable wind conditions in Europe and the GBP/EUR exchange ratio. Earnings before interest, tax, depreciation and amortisation (EBITDA) went up by 18.1% to EUR 85.1 million.

Falck Renewables’ revenues grew 15.8% year-on-year to EUR 147.2 million. It has 726 MW of renewables power plants, 93% of which is wind farms. About 47% of that capacity is located in Italy and 44% is in the UK.

The company also has roughly 95 MW of wind capacity under construction. The start of commercial operations is expected in the second half of 2016 and the first quarter of 2017.

(EUR 1 = USD 1.086)

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