Italian TerniEnergia 9-month net profit soars 116% in 2013

Nov 13, 2013 - TerniEnergia (BIT:TER), an Italian company operating in renewable energy, energy efficiency and waste management, reported on Tuesday a net profit for the nine months of 2013 of EUR 6 million (USD 8.1m), a surge by 115.5% compared with the same period in 2012.

The net profit at end-September comprises the results from joint venture operations worth EUR 1.25 million, the company explained.

Revenues totalled EUR 46 million, up by 12% on the year, chiefly due to power generation and environment operations, and the consolidation of interests.

Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped by 135% to EUR 9 million for an EBITDA margin of 19.5%, up from 9.3% at end-September 2012.

Operating profit soared 86.4% to EUR 4.4 million.

TerniEnergia booked a net financial position of EUR 116.3 million, almost double compared with EUR 62.3 million at end-2012.

Net worth amounted to EUR 52.2 million, against EUR 48.7 million as at December 31, 2012.

(EUR 1 = USD 1.344)

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