WOOD Flash – Terna Energy: 9M21 results review – adjusted net profit up 17% yoy
Terna Energy has reported its 9M21 performance, with figures adjusted for the deconsolidation of the US operations. Group revenues increased by 39% yoy, driven by a stronger contribution from non-core segments. RES revenues increased 8% yoy, to EUR 151m. The group EBITDA came in 7% higher yoy, at EUR 106m, and RES EBITDA contributing EUR 104m, with the EBITDA margin a touch below 43%. The adjusted net profit stood at EUR 43m, +18.7% yoy; while, accounting for the EUR 93.8m equity write-off, the company reported a net loss of EUR 50.4m. The DPS of EUR 0.17 (gross) is to be approved by the EGM on 14 December.Terna Energy is a vertically organized renewable energy sources group based in Greece. Co. is mainly engaged in the energy and construction sector. Co. is active in Wind Energy, as well as Hydroelectric Projects, Solar PV and Integrated Management of Waste to Energy and Biomass Projects. Co. is also engaged in the research for the operation and construction of projects related to other renewable energy sources (RES). Co. maintains a class 6 contractor certificate and its activity in the construction sector relates to the construction of private and public projects as a main contractor or subcontractor or through joint ventures.
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