Photon Energy N.V.: Increased revenues and EBIT in 2015

Annual report 2015 released

Power plant constructed in 2015 in Sydney, Australia (Photon Energy)

Amsterdam (pta016/27.04.2016/09:46 UTC+2) Photon Energy NV published its annual report for 2015, which saw the best results since its incorporation five years ago. Photon Energy returned to revenue growth and dramatically turned around its EBIT to a positive EUR 1.113 Mio. The improved results come on the back of new power plants, expanded Operations & Maintenance services and excellent solar power production results. With the momentum carrying over into the new year Photon Energy looks confidently on 2016 and beyond. CEO Georg Hotar will discuss the results with investors in an online-chat on 28 April 2016.

"In 2015 we succeeded in reigniting revenue growth, optimising our cost base across all business lines while the resulting EBITDA rose 75.8% to EUR 6.145 million and EBIT swung from a EUR -0.924 million loss to a positive EUR 1.113 million", comments CEO Georg Hotar. "That growth carried through to the bottom line, where we managed to reduce our loss after taxation by two thirds", Hotar adds.

The financial figures are mirrored by a strong business year. Photon Energy can look back on outstanding production of its power plants in 2015, which came in approximately 5.5% above expectations. The group's O&M division substantially increased its customer base by adding more than 35 MWp of new contracts for full-service O&M and expanding to Romania. New contracts were also added at the start of 2016. As a result Photon Energy is currently servicing more than 150 MWp of PV power plants across Europe and Australia. In Australia three power plants were commissioned or commenced construction in 2015, taking the total installed base of Photon Energy in Australia beyond the 1 MWp mark.

"In 2016 we expect continued growth in our O&M business as we further expand our services," CEO Georg Hotar looks confidently to the future. "We see huge opportunities in Europe, where the ownership of PV power plants is less fragmented, which in turn enhances the conditions for our subsidiary Photon Energy Operations. When current O&M clients acquire new PV plants chances are high that - based on their good experience - they entrust us with their newly-acquired PV power plants. In this respect, we have developed a healthy pipeline of projects, looking better than it ever has," Hotar adds.

While Photon Energy is constantly examining new markets worldwide, the focus for new PV projects in 2016 will still be Australia. "Down Under we will continue installing medium-scale rooftop installations for commercial clients, while at the same time developing multi-MWp projects, which promise more material revenues", Hotar concludes. Photon Energy is pushing the development of off-grid solutions, which will not only include hybrid power plants, but solutions directly coupled with off-grid applications, such as solar-powered water pumping and filtration.

The full report can be downloaded on the company's website at http://www.photonenergy.com

On 28 April 2016 Photon Energy is holding an online-chat in cooperation with the Polish retail investors association SII. Investors and interested parties will be able to submit questions to the moderators at http://www.sii.org.pl, where the chat will be webcast live at 11:00 a.m.

SELECTED FINANCIAL INFORMATION
in thousand EUR 2015 2014
Revenues 13,321 11,760
EBITDA 6,145 3,496
EBIT 1,113 -924
Net profit -1,720 -5,034

ABOUT PHOTON ENERGY
Photon Energy NV is a global solar power solutions and services company covering the entire lifecycle of solar power systems. Since its foundation in 2008 Photon Energy has built and commissioned more than 50 MWp of solar power plants across two continents and supplied the technology for many more projects. Photon Energy's O&M division provides operations and maintenance services for over 150 MWp worldwide. Photon Energy is headquartered in Amsterdam and has offices in Europe and Australia. For more information please visit http://www.photonenergy.com

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Emitter:	Photon Energy N.V. Barbara Strozzilaan 00201 1083 HN Amsterdam Netherlands
Contact Person:	Jan Krcmar
Phone:	+420 773032182
E-Mail:	jan.krcmar@photonenergy.com
Website:	www.photonenergy.com
ISIN(s):	NL0010391108 (Share)
Stock Exchange(s):	Free Market in Berlin, Frankfurt, Hamburg, Hannover; Vienna Stock Exchange (Corporates Prime)
Other Stock Exchanges:	Warsaw NewConnect