EAM Solar ASA Reports Unaudited Consolidated Earnings and Operational Results for the First Quarter Ended March 31, 2015
May 11 15
EAM Solar ASA reported unaudited consolidated earnings and operational results for the first quarter ended March 31, 2015. For the quarter, revenues were EUR 2,383,000 against EUR 592,000 a year ago. EBITDA was EUR 1,017,000 against LBITDA of EUR 342,000 a year ago. LBIT was EUR 296,000 against EUR 702,000 a year ago. Loss before tax was EUR 2,454,000 against EUR 917,000 a year ago. Profit for the year attributable to equity holders of the parent company was EUR 2,506,000 against EUR 640,000 a year ago. Loss per share (fully diluted) was EUR 0.49 against EUR 0.13 a year ago. EBITDA adjusted was EUR 1,328,000 against EUR 216,000 a year ago. EBIT adjusted was EUR 15,000 against LBIT of EUR 145,000 a year ago. Net loss adjusted was EUR 840,000 against EUR 290,000 a year ago. Cash out flow from operations was EUR 1,593,049 against EUR 1,587,368 a year ago. Cash out flow from operations was EUR 1,593,049 against EUR 1,587,368 a year ago.
The quarterly power production of 7.0 GWh was 4.8% below normal level due to poor solar irradiation in the south of Italy in the quarter.
EAM Solar ASA Announces Audited Consolidated and Parent Earnings Results for the Year Ended December 31, 2014; Provides Operating Guidance for the Fiscal 2015; Proposes Amendment to its Articles of Association
May 8 15
EAM Solar ASA announced audited consolidated and parent earnings results for the year ended December 31, 2014. For the year, the consolidated company reported total revenue was EUR 8,715,437 against EUR 3,109,548 a year ago. Operating profit before depreciation and amortisation was EUR 2,212,929 against EUR 1,216,233 a year ago. Operating loss was EUR 1,152,258 against profit of EUR 2,219,723 a year ago. Loss before tax was EUR 591,256 against profit of EUR 4,757,837 a year ago. Loss for the year attributable to equity holders of the parent company was EUR 1,625,467 against profit of EUR 4,651,744 a year ago. Diluted loss per share was EUR 0.33 against profit of EUR 2.01 a year ago. Net cash flow used in operating activities was EUR 3,656,305 against net cash flow from operating activities of EUR 1,267,955 a year ago. EBITDA was EUR 2,212,929. Diluted loss per share from continued operations was NOK 2.68 against profit of NOK 15.66 a year ago.
For the year, the parent company reported total revenue was NOK 1,294,085 against NOK 74,200 a year ago. Operating loss was NOK 15,877,903 against NOK 4,112,080 a year ago. Profit before tax was NOK 8,364,840 against NOK 20,801,855 a year ago. Profit attributable to other equity was NOK 8,364,840 against NOK 20,138,306 a year ago. Net cash flow from operating activities was NOK 22,760,714 against net cash used in operating activities of NOK 3,652,920 a year ago.
The company’s existing power plants are expected to generate 38.24 GWh of electricity in 2015.
The company announced the AGM to be held on May 28, 2015 to consider the revision of the articles of association to correct some translation mistakes in the English text and to define more precisely the wording of article 11. English text: Article 5: Change § for "Article" in the heading. First sentence of the first paragraph shall be: "The company's board consists of three to seven members." Add full stop after last word of the first paragraph. The first sentence of the second paragraph shall be: "The full board may serve as the company's audit committee for as long as the board satisfies the requirements relating to audit committees under applicable laws and stock exchange rules." Article 6: Change § for "Article" in the heading. Article 7: Change § for "Article" in the heading. Article 11: The first sentence shall be: "To the extent permitted by applicable law the company shall distribute its entire annual cash surplus as a dividend to its shareholders." In addition punctuation errors has been corrected.