Terna Energy posts 79.6% rise in 2017 net earnings

Greek renewable power producer Terna Energy (ATH:TENERGY) this week said its net earnings after minority interests jumped 79.6% in 2017 from 2016, up to EUR 37.1 million (USD 44.4m), boosted by non-recurring revenues.

The company, which has 986 MW of installed renewable energy capacity in Greece, the US and southeastern Europe, saw its pre-tax profit rise 57.1% to EUR 57 million, while earnings before interest and tax (ΕΒΙΤ) grew 49.1% to EUR 109.3 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) expanded 27.4% to EUR 147.5 million as sales increased 22.6% to EUR 225.6 million.

Below is a breakdown of the company's revenues:

Terna Energy said that with a further 178 MW of under-construction and shovel-ready projects it will soon have 1,164 MW in operation. The company aims to expand its portfolio to 2 GW.

(EUR 1 = USD 1.197)

Choose your newsletter by Renewables Now. Join for free!