Greek wind co Anemos bolsters 9mo revenue, profits

Wind farm. Author: Edgar Weber. License: Creative Commons, Attribution 2.0 Generic.

December 6 (Renewables Now) - Greece-based Eltech Anemos SA (ATH:ANEMOS), which operates 282 MW of wind farms, posted higher revenue and profits in the first nine months of 2018, thanks to capacity additions and favourable wind conditions.

The company, a unit of Greek construction group Ellaktor (ATH:ELLAKTOR), on Tuesday said that the net profit attributable to parent company shareholders rose by 52.8% on the year to EUR 10.4 million (USD 11.8m), or EUR 0.1254 per share, after revenues climbed by 24.1% to EUR 42.7 million.

Further details on Eltech Anemos’ performance in the three quarters can be seen in the table below. The reported results are in accordance with the International Financial Reporting Standards (IFRS).

in EUR millions 9mo 2018 9mo 2017
Consolidated net profit attributable to the parent company 10.4 6.8
- per share (in euros) 0.1254 0.0821
EBIT 23 16.9
EBITDA 33 25.3
Consolidated revenue 42.7 35.2

As of end-September, Eltech Anemos had 18 wind farms with a combined capacity of 282.15 MW in its portfolio, a 4.95-MW hydropower plant (HPP) and a 2-MWp photovoltaic (PV) system. The company is in the process of commissioning a 6.4-MW wind farm and has under construction five more wind parks totalling 195.6 MW.

(EUR 1.0 = USD 1.135)

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