Photon Energy N.V.: Look back on succesful Q1 2014

Photon Energy publishes quarterly report

New power plant in Sydney (Photo: Photon Energy)

Amsterdam (pta013/16.05.2014/11:35 UTC+2) The first three months saw new maintenance contracts signed in several European countries, as well as the launch of "European Solar Holdings", a Yield-Co designed to protect investors against new retroactive measures in EU countries.

In January Photon Energy was mentioned in a study by Deutsche Bank on the upcoming solar gold rush. The company backed this up by connecting a large rooftop power plant in Sydney.

The power plants in the company's proprietary portfolio generated high production results.

Financially, Q1 2014 can be considered a success with a 9% YOY increase in consolidated revenues to EUR 1.83 million, most of which were realised through the sale of 4.8 GWh of PV-generated electricity. The increase predominantly derived from favourable weather conditions with minimum snowfall and high solar irradiation, resulting in energy production coming in at 23% above plan (up by 50% YOY and 33% more than in Q4 2013). The picture is similar at the EBIT level where a loss of EUR 1.629 million in Q1 2013 contracted to minus EUR 0.471 million in Q1 2014. After an EBITDA loss of EUR 1.629 million in Q1 2013 the company swung to positive EBITDA of EUR 0.201 million in Q1 2014.

The report can be downloaded at http://en.photonenergy.com/reports

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Emitter:	Photon Energy N.V. Barbara Strozzilaan 00201 1083 HN Amsterdam Netherlands
Contact Person:	Jan Krcmar
Phone:	+420 773 032 182
E-Mail:	jan.krcmar@photonenergy.com
Website:	www.photonenergy.com
ISIN(s):	NL0010391108 (Share)
Stock Exchange(s):	-
Other Stock Exchanges:	Warsaw NewConnect