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Etrion Q3 net loss of nearly $80 million

Author: Source: Datetime: 2016-11-16 11:46:20

In November 10, 2016, the Swiss independent solar power generator Etrion released a condensed consolidated interim financial statements for the three months and nine months ended September 30, 2016.


solar power generator


For the three months and nine months ended September 30, 2016, Etrion's revenues were $17 million 200 thousand (2015: $15 million 900 thousand) and $43 million 700 thousand (2015: $43 million 400 thousand).

 

For the three months ended September 30, 2016 and nine months EBITDA adjusted (EBITDA) were $12 million (2015: $10 million 500 thousand) and $28 million 700 thousand (2015: $27 million 700 thousand).

 

The increase in net loss is mainly due to the impairment loss

 

For the three months ended September 30, 2016, Etrion net loss of $83 million 300 thousand (2015: net loss of $4 million 400 thousand), primarily due to $75 million 700 thousand impairment charges and $6 million 900 thousand in deferred tax write off.

 

For the three months ended September 30, 2016, adjusted net income will be $1 million 500 thousand.

 

For the three months and nine months ended September 30, 2016, Etrion confirmed gross profit was $7 million 900 thousand and $16 million 400 thousand (2015: $7 million 200 thousand and $18 million 100 thousand respectively).

 

2016 third quarter solar backup generator capacity of 77 million 800 thousand kWh

 

For the three months ended September 30, 2016 Etrion generated about 77 million 800 thousand kwh of solar power generation (2015 73 million 800 thousand KWH), including 23 solar power plant in Italy, Chile and Japan (2015: 139 MW, including 23 solar power station).

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