PLT ENERGIA SPA
PLT energia: the Board of Directors approves the draft budget and the Consolidated Financial Statements at Decembre 31st 2016
Cesena, 2017 March,24th - PLT energia Spa, an Italian industrial holding company operating in the field of renewable energies market, announces that the Board of Directors, meeting on March, 24th 2017, approved the draft budget and the consolidated financial statements at December 31st 2016.The results highlight a strong improvement of main profitability indicators compared to the previous year.
Pierluigi Tortora PLT energia CEO commented: '2016 has been a crucial year for the Group, mainly due to the large amount of investments for the construction of new wind farms which have allowed to increase by 30%, and one year in advance, the total installed capacity owned by the Group, compared with that foreseen in the business plan presented to the investors during the listing.
This has been possible thanks to the vertical integration of the business and operating efficiency of the Group throughout the entire supply chain, with a resulting cash generation, and thanks to the disposal of the assets realized and managed by the Group in joint venture with Enel Green Power.
The achieved dimension of the Group in terms of electricity production in the renewable sector, together with the vertical integration of the activities, from the up to the downstream, will favor the ambitious strategic goals that we intend to plan in the next industrial plan which will be finalized during 2017.
The main economic and profitability indicators for 2016 are very positive and confirm the choices made in recent years as well as they are claiming the growth of the Group at solid rates.'Please note that the financial statements and consolidated financial statements, prepared in accordance with Italian accounting principles, incorporate the changes introduced by Legislative Decree. 18/08/2015 n. 139 (so called 'Decree budgets'), published in the Official Gazette 09/04/2015 no. 205, regarding, among other aspects, also the general principles of the financial statements and methods of valuation. The 2015 results utilised for comparisons were therefore prepared according to the same criteria and in compliance with current legislation.
Financial highlights
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Value of production equal to 97,1 million euro (41,5 million euro in 2015).
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EBITDA +3,6% equal to 13,3 million euro (12,8 million euro in 2015).
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Net Group profit +116% equal to 8,8 million euro (4,1 million euro in 2015).
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Net profit equal to 8,2 million euro (4,0 million euro in 2015),
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Net financial position equal to 127,1 million euro (102,2 million euro in 2015).
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Dividend of Euro 0,1 per share proposed, with yield of approximately 5,1%, calculated on 2016 medium price
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Net installed capacity at 134 MW *
Cesena, 2017 March,24th - PLT energia Spa, an Italian industrial holding company operating in the field of renewable energies market, announces that the Board of Directors, meeting on March, 24th 2017, approved the draft budget and the consolidated financial statements at December 31st 2016.The results highlight a strong improvement of main profitability indicators compared to the previous year.
Pierluigi Tortora PLT energia CEO commented: '2016 has been a crucial year for the Group, mainly due to the large amount of investments for the construction of new wind farms which have allowed to increase by 30%, and one year in advance, the total installed capacity owned by the Group, compared with that foreseen in the business plan presented to the investors during the listing.
This has been possible thanks to the vertical integration of the business and operating efficiency of the Group throughout the entire supply chain, with a resulting cash generation, and thanks to the disposal of the assets realized and managed by the Group in joint venture with Enel Green Power.
The achieved dimension of the Group in terms of electricity production in the renewable sector, together with the vertical integration of the activities, from the up to the downstream, will favor the ambitious strategic goals that we intend to plan in the next industrial plan which will be finalized during 2017.
The main economic and profitability indicators for 2016 are very positive and confirm the choices made in recent years as well as they are claiming the growth of the Group at solid rates.'Please note that the financial statements and consolidated financial statements, prepared in accordance with Italian accounting principles, incorporate the changes introduced by Legislative Decree. 18/08/2015 n. 139 (so called 'Decree budgets'), published in the Official Gazette 09/04/2015 no. 205, regarding, among other aspects, also the general principles of the financial statements and methods of valuation. The 2015 results utilised for comparisons were therefore prepared according to the same criteria and in compliance with current legislation.
* The installed capacity includes the capacity related to Simeri Crichi and Tursi e Colobraro wind farms, already installed but in production from April 2017.
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PLT energia S.p.A. published this content on 24 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 March 2017 15:04:06 UTC.
Original documenthttp://www.pltenergia.it/EN/Investor-Relations/Comunicati-stampa/47/plt-energia-the-board-of-directors-approves-the-draft-budget-and-the-consolidated-financial-statements-at-decembre-31st-2016
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