Photon Energy reports rise in revenue to EUR 3.71m in Q1

Published: 10.05.2018 Related countries:  United Arab Emirates United Arab Emirates

Photon Energy launched the financial year 2018 for another record quarter. The company built more than 50 MWp of photovoltaic power plants in Europe and Australia.

In the first quarter of 2018, Photon Energy increased its consolidated revenue by 33.3% y/y to EUR 3.71m. EBITDA totalled EUR 1.03m. Due to a capital profit of EUR 3.07m within the framework of a transaction with Canadian Solar, the company posted a net profit of EUR 1.89m. Its registered capital increased from EUR 25.98m at the end of 2017 to EUR29.23m. Electricity generation exceeded expectations by 4.1%. Compared to electricity generation in the first quarter of 2017, it was 21.1% lower. The company compensated for this decrease through the results of other business lines.

 

Source: CIANEWS, http://cz.photonenergy.com