Brief: Enertronica: Updates On Contracts Implementation in Spain, South Africa, USA; Suspends Approval of H1 Financial Statement

Enertronica Santerno SpA

24/09/2018 07:33

Sept 24 (Reuters) - Enertronica SpA  ENER.MI :
    * ANNOUNCED ON FRIDAY TWO CHANGES WITH RESPECT TO ORDER
PIPELINE
PREVIOUSLY COMMUNICATED TO MARKET
    * SAID THAT CONSTRUCTION OF A PHOTOVOLTAIC PLANT IN SPAIN
FOR A
CAPACITY OF ABOUT 120 MW WILL NOT BE REALIZED
    * 120 MW PHOTOVOLTAIC PLANT CONTRACT, WHOSE ESTIMATED VALUE
WAS
AROUND EUR 14 MILLION, WAS COMMUNICATED TO MARKET ON AUG. 1,
2017
    * CONFIRMS ORDERS FOR SUPPLY OF PHOTOVOLTAIC INVERTERS FOR
200MW
WITH A VALUE OF ABOUT 10 MILLION EURO SIGNED BY ELETTRONICA
SANTERNOM 
    * ADDS THAT ACTIVITIES RELATED TO IMPLEMENTATION OF
PHOTOVOLTAIC
INVERTERS HAVE SHIFTED ABOUT 6 MONTHS AND THE EFFECTS ON 2018
RESULTS WILL BE LESS EVIDENT THAN INITIALLY ESTIMATED
    * ELETTRONICA SANTERNO SIGNED CONTRACT IN SOUTH AFRICA FOR
THE
SUPPLY OF ABOUT 120 MW OF PHOTOVOLTAIC INVERTERS WORTH C. EUR 10
MILLION THAT WILL BE IMPLEMENTED IN 2018-2019
    * SAID CONTRACT IN SOUTH AFRICA HAS NOT BEEN INCLUDED IN
FORECASTS
FOR TURNOVER AND THEREFORE WILL COMPENSATE FOR NON-COMPLETION OF
THE CONTRACT IN SPAIN
    * WORKS UNDER CONTRACT SIGNED BY ENERTRONICA INC IN NEVADA
(USA)
FOR CONSTRUCTION OF A PHOTOVOLTAIC PLANT WITH A CAPACITY OF
ABOUT 27 MW ARE COMPLETED HOWEVER CONTRACT SHOWED SOME LOSES
CURRENTLY ESTIMATED AT USD 5 MILLION 
    * DUE TO CHANGES TO ORDER PIPELINE AND ONGOING NEGOTIATIONS
DECIDED TO SUSPEND APPROVAL PROCESS FOR H1 2018 FINANCIAL
STATEMENTS
    * SETS DATE FOR APPROVAL OF ITS H1 FINANCIAL REPORT FOR NOV.
15
    * ON NOV. 15 TO ANNOUNCE PROVISIONAL DATE FOR FY 2018
REPORTS
CLOSING AND UPDATE OF BUSINESS PLAN PRESENTED IN MAY 2018

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA4C9hbx
    
 Further company coverage:  ENER.MI  
   


 (Gdynia Newsroom)
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))