Aug 5, 2011 - Spanish renewable energy group Fersa Energias Renovables (MCE:FRS) turned to a EUR 2 million (USD 2.82m) net profit for January-June 2011, against a EUR 1.98 million loss a year earlier, the company said yesterday.
Operating revenue in the first six months jumped by 78.2% to EUR 21.8 million.
Installed capacity soared by 38.8% to 258.9 MW with 153.3 MW of the total located in western Europe. Total production stood at 245.9 GWh, jumping 73.6%.
Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at EUR 15.2 million, up 142.6% on the year. Earnings before interest and tax (EBIT) surged to EUR 5.39 million from EUR 743,000 a year ago.
The company's net debt came in at EUR 241,338, compared with EUR 235,135 registered at end-2010.