Brief: Photon Energy Cuts FY EBITDA Target To About EUR 10 Mln

Photon Energy NV

19/11/2024 06:22

Nov 19 (Reuters) - Photon Energy  PENP.WA :
    * SAID ON MONDAY THAT IT HAS RESOLVED TO LOWER ITS FULL YEAR
EBITDA GUIDANCE TO EUR 10 MLN FROM EUR 16-18 MLN EXPECTED
EARLIER
    * REVISION DUE TO LOWER-THAN-EXPECTED REVENUE FROM
GENERATION
SEGMENT, LOWER REVENUES FROM CAPACITY MARKET CONTRACTS IN POLAND
    * THE MANAGEMENT HAD EXPECTED HIGHER REVENUES AND EBITDA IN
THE
SECOND HALF OF THE YEAR FROM NEW UTILITY-SCALE EPC CONTRACTS,
AND THIS WILL NOT BE ACHIEVED BEFORE YEAR-END 
    * LASTLY, ONGOING NEGATIVE MARGINS IN TECHNOLOGY TRADING,
WHERE
PRICES REMAIN UNDER PRESSURE, CONTINUED TO ERODE OVERALL
PROFITABILITY OF THE GROUP

        
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