Greenvolt profits fall 26.7% until September to €7.5M

  • Lusa
  • 17 November 2021

The third quarter was the first to include the impact on the income statement of the main acquisitions by Greenvolt this year, namely TGP, V-Ridium and Profit.

Greenvolt’s profits were €7.5 million in the first nine months of the year, a fall of 26.7% year on year, “reflecting the financial results that reflect the acquisitions made,” according to a statement.

In the statement issued today, the Altri group company said that “the third quarter was the first to include the impact on the income statement of the main acquisitions by Greenvolt this year, namely TGP, V-Ridium and Profit.

“The results for the first nine months recorded total revenues of €83.4 million (+21%) and an EBITDA [earnings before tax, interest, depreciation and amortisation], excluding transaction costs, of €33.8 million (+34%). Net profit was €7.5 million (-26.7%), reflecting the financial results that reflect the acquisitions made,” said the company, which operates in the renewable energy sector.

In parallel, during the third quarter of 2021, Greenvolt’s total revenues “amounted to €41.4 million, which corresponds to a growth of about 83.4% and net income was €6.5 million (+45.7% when compared to the previous year)”, and at the level of EBITDA, excluding transaction costs, there was an increase of 108.4% year-on-year to €19.9 million.

The group also revealed that its net financial debt “was €122.3 million, a substantial decrease compared to the net debt at the end of the first half of the year. This reduction is essentially due to the financial flows from the Initial Public Offering of shares”.