Greenko records flat net profit in FY 2011/12

Jul 18, 2012 - Indian green energy company Greenko Group Plc (LON:GKO) generated after-tax profit of EUR 11.5 million (USD 14.1m) in the year through March, relatively unchanged on the prior-year figure of EUR 11.4 million, the company's preliminary results showed today.

The flat profit came as lower interest income offset growth in earnings before interest, tax, depreciation and amortisation (EBITDA), which was achieved in spite of negative currency effects and a weak market for Certified Emission Reductions (CERs), the company said.

EBITDA rose to EUR 27.3 million from EUR 25.2 million in the previous year. Revenue fell to EUR 36.9 million from EUR 44.4 million, with power output declining to 769.8 GWh from 807.6 GWh.

Greenko currently has 260 MW of operational capacity. The company also has about 500 MW of projects under construction and another 900 MW under active development. It reiterated its target for 1 GW of operational projects in 2015. Wind is to account for about 550 MW of that goal and small and medium hydro projects for most of the remainder.

(EUR 1.0 = USD 1.227)

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