Greentech Energy Systems A/S Reports Audited Group and Parent Earnings Results for the Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
March 29, 2017 at 02:17 am EDT
Greentech Energy Systems A/S reported audited group and parent earnings results for the year ended December 31, 2016. For the year, on group basis, the company reported revenue of 46,586,000 against 47,321,000 a year ago. Operating profit was 21,780,000 against 17,584,000 a year ago. Profit before tax was 13,258,000 against 7,379,000 a year ago. Profit for the year was 11,399,000 or 0.11 per basic and diluted share against 4,292,000 or 0.04 per basic and diluted share a year ago. Cash flow from operating activities was 16,155,000 against 12,135,000 a year ago. Purchase of property, plant and equipment was 1,312,000 against 1,070,000 a year ago. EBITDA was 30,411,000 compared to 29,341,000 a year ago.
For the year, on parent basis, the company reported revenue of 951,000 against 1,479,000 a year ago. Operating loss was 2,020,000 against profit of 12,864,000 a year ago. Profit before tax was 4,667,000 against 18,310,000 a year ago. Profit for the year was 4,539,000 against 18,135,000 a year ago. Cash flow from operating activities was 2,255,000 against cash flow used in operating activities of 901,000 a year ago.
For the year 2017, the company expects to report total revenue of 58 million to 62 million and total EBITDA was 39 million to 43 million.