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H1 net profit doubles for Greek wind co Anemos

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

September 20 (Renewables Now) - Greek firm Eltech Anemos SA (ATH:ANEMOS) boosted its revenue and doubled its net profit in the first half of 2018, thanks to capacity additions and favourable wind conditions.

The company, a unit of Greek construction group Ellaktor (ATH:ELLAKTOR), said on Wednesday that its half-year net profit doubled to EUR 7.65 million (USD 8.95m) from EUR 3.54 million, while revenues grew by 31.4%. EBITDA and EBIT also increased in the six-month period by 44.6% and 60.3%, respectively.

Details on Eltech Anemos’ half-year performance are available in the table.

Figures in EUR million H1 2018 H1 2017
Consolidated net profit 7.65 3.54
Consolidated net profit per share (in euros) 0.0894 0.0406
EBIT 15.9 9.9
EBITDA 22.4 15.5
Consolidated revenue 29.3 22.3

To date Eltech Anemos has 18 operational wind parks with a total capacity of 282.15 MW, a 4.95-MW hydropower plant and 2 MWp of solar power capacity. It also has 202 MW of wind farms under construction, five of them with total installed capacity of 173.2 MW have already signed contracts for electricity supply and one has qualified in the tender in July.

(EUR 1  = USD 1.17)

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Svilena is the latest addition to the Renewables Now team. Based in Italy, she will be focusing on the local market and on the rise of energy storage, e-mobility and mini grids globally.

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