Falck Renewables turns in EUR 15m net profit in 2013

Mar 13, 2014 - Italian Falck Renewables SpA (BIT:FKR) today reported a net profit of EUR 15 million (USD 20.9m) for 2013, against a net loss of EUR 85.5 million posted in 2012 due to write-downs and adjustments.

Revenues totalled EUR 275.9 million, slightly up from EUR 274.6 million a year earlier.

Earnings before interest, tax, depreciation and amortisation (EBITDA) exceeded the expectations and stood at EUR 156.8 million.

The company booked an operating profit of EUR 79.3 million, against an operating loss of EUR 21.4 million in 2012.

The net financial debt, excluding the fair value on derivatives, narrowed to EUR 700.9 million from EUR 757.1 million as at December 31, 2012.

The board of directors is proposing a dividend of EUR 0.032 per share.

Energy production totalled 1,914 GWh last year, a 6.7% annual increase. The group treated 322.2 tonnes of waste, up 2.7% on the year.

Total installed capacity at end-2013 reached 731.4 MW, of which 670.3 MW of wind power and 31 MW waste-to-energy capacity. The biomass and solar power capacity stood at respectively, 14 MW and 16.1 MW.

(EUR 1 = USD 1.393)

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