EAM Solar ASA : Q1 2018 Financial Report
May 15 2018 - 1:00AM
Highlights in the
quarter:
EBITDA for the first quarter 2018
was minus EUR 255 thousand. Normal operations, adjusted
for legal costs and write down of receivable
against Aveleos SA, yielded an EBITDA of EUR 168 thousand
for the first quarter 2018, equivalent to an EBITDA margin of
26 per cent.
Cost of operations and SG&A
amounted to EUR 142 thousand and EUR 346
thousand respectively.
Hearings were conducted in both
criminal and arbitration proceedings in Milan during the
quarter without any concluding rulings. The EAM CEO appeared
as witness in the Criminal Court on 20 February 2018.
In February the Company received
yet another defamation claim from Aveleos S.A. This time
over the statements made with regards to the write down
of receivables against Aveleos conducted in the third
quarter report 2017.
For further information, please
contact:
Viktor E Jakobsen, CEO, phone +47
9161 1009, viktor@eam.no
About EAM Solar ASA: EAM
Solar ASA is a utility company that acquires and operates solar
power plants. The Company currently owns solar PV power plants in
Italy. The plants are operating under long-term sales contracts. In
addition, the Company's business is lawsuits in relation solar
power plants.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
Q1 2018 Financial Report
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: EAM Solar ASA via Globenewswire
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