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falck renewables spa (FKRNF) Key Developments

Falck Renewables SpA Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Year 2014

Falck Renewables SpA announced consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of EUR 46,957,000 against EUR 43,642,000 a year ago. EBIT was EUR 1,099,000 against EUR 34,000 a year ago. Loss before taxation was EUR 10,885,000 against EUR 9,712,000 a year ago. EBITDA was EUR 17,583,000 against EUR 15,320,000 a year ago. For the nine months, the company reported revenue of EUR 174,140,000 against EUR 185,623,000 a year ago. EBIT was EUR 40,761,000 against EUR 55,531,000 a year ago. Pre-tax result was EUR 4,242,000 against EUR 22,718,000 a year ago. EBITDA was EUR 89,646,000 against EUR 103,797,000 a year ago. EBITDA decreases owing to exceptional events, such as the downtime of the Wte plant in Trezzo sull'Adda due to a failure of the alternator (EUR 5.0 million) and - exceptional low wind that characterized 2014 until September 30 (EUR 6.8 million). Net financial debt, without considering the fair value of derivatives, has improved sharply, down to EUR 553 million, compared to EUR 673.8 million at December 31, 2013, mainly as a result of the sale of the minority interests in UK plants. Cash flow from operations was EUR 62 million. The company confirmed of EBITDA of EUR 130 million to EUR 135 million for 2014.

Falck Renewables SpA, Q3 2014 Earnings Call, Nov 13, 2014

Falck Renewables SpA, Q3 2014 Earnings Call, Nov 13, 2014

Falck Renewables SpA Presents at London Star Conference 2014, Oct-02-2014

Falck Renewables SpA Presents at London Star Conference 2014, Oct-02-2014 . Venue: London Stock Exchange, 10 Paternoster Square, London EC4M 7LS, United Kingdom.

Falck Renewables SpA, H1 2014 Earnings Call, Aug 08, 2014

Falck Renewables SpA, H1 2014 Earnings Call, Aug 08, 2014

Falck Renewables SpA Announces Earnings Results for the First Half of 2014; Confirms Earnings Guidance for the Year 2014

Falck Renewables SpA announced earnings results for the first half of 2014. For the period, the company reported revenues of EUR 127,183,000 against EUR 141,981,000 a year ago. Operating profit was EUR 39,662,000 against EUR 55,497,000 a year ago. The operating profit is influenced by the write-down in the amount of EUR 1.9 million following impairment testing on the plants of Trezzo sull'Adda, Rende and Solar Mesagne. Profit before taxation was EUR 15,127,000 against EUR 32,430,000 a year ago. Profit attributable to owners of the parent company was EUR 2,715,000 against EUR 19,202,000 a year ago. EBITDA was EUR 72,063,000 against EUR 88,477,000 a year ago. These revenue results are mainly attributable to: little wind that characterized the second quarter of 2014 in all sites where the group's wind plants operate, despite the increase in production capacity for operations during the half-year of the Nutberry wind plant and, during the latter part of the period examined, the wind plant of West Browncastle; reduction, moreover envisaged by the group, of average electricity sale prices (above all due to legislative changes), which in the first half of 2014 took a downturn, albeit only to a limited extend, with respect to the prices of the first half of 2013; downtime for failure, since end April, of the waste-to-energy plant of Trezzo sull'Adda, which has no longer produced electricity, but only incinerated waste. The damages caused due to lack of production as at June 30, 2014 will be claimed under insurance in the amount of approximately EUR 1.5 million, net of the excess of EUR 1.1 million. As of June 30, 2014, net financial debt, inclusive of the fair value of derivatives, was EUR 597.9 million. During the first half of 2014, investments in fixed assets amounted to EUR 21.6 million, due mainly to the construction of the wind farms of West Browncastle (EUR 12.0 million), Spaldington (EUR 1.0 million), Nutberry (EUR 6.1 million) and Kingsburn (EUR 0.6 million), as well as improvements on production plants in the WtE, biomass and photovoltaic sector for EUR 1.3 million. The group confirms the guidance of EBITDA for 2014 of EUR 130 million to EUR 135 million for 2014.

 

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