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.