From GlobeNewswire: 2024-08-01 02:00:00

Enefit Green’s business revenue for Q2 of 2024 decreased by 7%, with business expenses (excluding depreciation) also dropping by 12%, resulting in a 2% decrease in EBITDA to €19.3 million. Net profit for the quarter increased by €2.8 million to €3.9 million. The company is actively progressing with construction projects across various wind and solar parks.

Despite the decrease in revenue, Enefit Green is focusing on timely completion of ongoing construction projects. Several key projects, including large wind parks in Estonia and Lithuania, are progressing as planned. The company’s goal is to start electricity production in all these parks this year, except for the Kelmė II wind park. Enefit Green produced 358 gigawatt-hours of electricity in Q2, a 35% increase from the same period last year.

Enefit Green will be hosting a webinar today to present the results of Q2 2024 to investors. The company’s board has appointed Juhan Aguraiuja as the new Chairman, effective October 14th. The company is actively involved in construction activities in major wind and solar parks, including Sopi-Tootsi, Kelmė I, Kelmė II, and Sopi solar park. The Purtse hybrid park has passed Elering’s compliance tests.

In Q2 2024, Enefit Green’s electricity production increased by 93 GWh to 358 GWh, driven by output from new wind and solar parks. There was a 45 GWh decrease in heat energy production. Despite a decline in revenue, the company is continuing its investment efforts with a focus on developing new projects. The company’s net profit for the quarter increased by €2.8 million to €3.9 million.



Read more at GlobeNewswire:: Enefit Greeni II kvartali 2024 vahearuanne