Global EcoPower swings to EUR 1.92m net profit in 2012

Apr 8, 2013 - France-based renewable energy group Global EcoPower (EPA:MLGEP) reported today a net profit of EUR 1.92 million (USD 2.49m) for 2012 with its business focused almost exclusively on wind energy, after it closed the previous fiscal year in the red.
Revenue totalled EUR 5.6 million, a serious drop compared with the EUR 16.1 million booked in 2011 when its activities were concentrated on the construction of two solar power plants.
Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at EUR 1.07 million, delivering a margin of 19%.
In 2012, the company managed to reduce its debt to zero, while its balance sheet came in at EUR 14.05 million.
For the current year, Global EcoPower targets a turnover of EUR 13 million and EBITDA of EUR 2.6 million, equal to an EBITDA margin of 20%.
Last year, the company confirmed that its deployment in the wind energy sector was successful. The group is poised to become a leading player in the turnkey construction of wind farms in France. Global EcoPower is actively looking for new wind farms in metropolitan France, the company said in a statement.
Another important project for the group concerns its transfer to the Alternext platform of Euronext Paris in 2013. As previously announced, the company plans to proceed with that in order to increase the visibility of its shares and improve its liquidity.
(EUR 1.0 = USD 1.301)

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