Greentech Energy Systems A/S
Revised full-year guidance for 2014
Greentech Energy Systems A/S 15.12.2014 15:21 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Copenhagen, 15 December 2014 Company Announcement No. 16/2014 In the Q3 Interim Report for 2014, published on 12 November 2014, Greentech confirmed the Outlook for 2014. Unfortunately, a negative volume-effect, due to less favorable weather conditions in October and November, added up to the decline in energy prices that Greentech has been experiencing during 2014. As a matter of fact, for 2014 Greentech expects a net production of 380 - 390 GWh instead of the previous range of 390 - 400 GWh. Thus, the range of Revenue is revised from EUR 71 - 76M (including Revenue from Associates) to EUR 68 - 69M. The EBITDA is revised as well, from EUR 40 - 42M (including EBITDA from Associates) to EUR 36 - 37M, as a result of the above revision in Revenue and a restructuring provision of approx. EUR 2M. In fact, considering the regulatory changes experienced in Spain and Italy and the deflationary scenario over Europe, the Management has taken restructuring measures as to reduce G&A cost mainly at holding level. This should allow a cost-saving of approx. EUR 3M on a recurring basis. The revised Outlook for 2014 is the following: OUTLOOK 2014 MEUR Outlook Revised 2014 Outlook (February 2014) (December 2014) Net production (GWh) 390 - 400 380 - 390 Revenue (including revenue from associates) 71 - 76 68 - 69 EBITDA (including EBITDA from Associates) 40 - 42 36 - 37 The Board of Directors Contact: Peter Høstgaard-Jensen, Chairman of the Board of Directors, Tel: +45 40 10 88 71 Alessandro Reitelli, CEO, Tel: +45 33 36 42 02 News Source: NASDAQ OMX 15.12.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Greentech Energy Systems A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010240514 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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