Italy's Alerion Clean Power 9-month net profit falls to EUR 800,000

Nov 15, 2013 - Italian renewable energy company Alerion Clean Power SpA (BIT:ARN) reported on Thursday a net profit for the nine months of 2013 of EUR 800,000 (USD 1.1m), down from EUR 2.2 million a year earlier.

On June 25, 2013 Alerion completed the sale of solar power operations for a total installed capacity of 4 MW to Belenergia SA, after the group had exited the biomass segment via the sale of its Anagni plant in December 2012. In the first nine months of 2013, the group focused on the development of wind power with electricity production rising by 26,492 MWh compared with the same period of 2012.

Total revenues from power generation in the nine months reached EUR 49.8 million, down from EUR 54.8 million, which had included EUR 9.6 million from solar and biomass production. Revenues from wind power increased by EUR 3.1 million to EUR 48.3 million.

Gross operating profit stood at EUR 33 million, down from EUR 36.8 million a year earlier.

Operating profit amounted to EUR 16.8 million, falling from EUR 19.5 million.

The group's net worth increased by EUR 4.5 million to EUR 142.8 million.

(EUR 1 = USD 1.346)

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