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Company Announcements

  • 11/2018: Monthly update for August 2018

    Wind

    • In August 2018, the total wind production was 33% below estimates.
    • In particular, due to extremely poor wind conditions, production generated in all our countries was lower than expected.
    • Net wind production year-to-date was slightly lower than budget and fairly higher than the same period last year (+5%).

     

    Solar

    • In August 2018, the total solar production was 9% lower than budget.
    • In particular, the average irradiation was lower than estimates both in Italy and Spain.
    • Net solar production year-to-date was slightly lower than estimates and lower than the same period last year (-10%).

     

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  • 10/2018: Monthly update for July 2018

    Wind

    • In July 2018, the total wind production was 8% below estimates.
    • In particular, due to poor wind conditions, production generated in all our countries was lower than expected.
    • Net wind production year-to-date was in line with budget and fairly higher than the same period last year (+9%).

     

    Solar

    • In July 2018, the total solar production was in line with budget.
    • In particular, the average irradiation was in line with estimates both in Italy and Spain.
    • Net solar production year-to-date was in line with estimates but lower than the same period last year (-10%).

     

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  • Interim Financial Report – Half Year 2018

    Positive trend in financials for H1 2018
    -4% decrease in revenue to EUR 27.2M mainly due to changes in perimeter (+2% excluding changes in perimeter)
    Stable EBITDA amounting to EUR 20.3M (EUR 24.3M including Joint Ventures)
    11% profit increase to EUR 5.4M

    Stable production trend in H1 2018
    +10% in total net production in H1 2018 vs H1 2017: 180 GWh (excluding change in perimeter)
    • Actual wind production in line with estimates
    -3% in actual solar production vs estimates

    Positive trend in Athena’s share price
    +25% six-month average H1 2018 (8.89DKK) vs H1 2017 (7.13DKK)

     

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  • 09/2018: Monthly update for June 2018

    Wind

    • In June 2018, the total wind production was 9% below estimates.
    • In particular, due to poor wind conditions all around Europe, production generated in all our countries was lower than expected. However, compared to June 2017, production was higher in Italy in general (+15%) and especially in the Minerva Messina plant (+82%).
    • Net wind production year-to-date was in line with budget and significantly higher than the same period last year (+15%).

     

    Solar

    • In June 2018, the total solar production was 5% lower than estimates.
    • In particular, the average irradiation was lower than expected both in Italy (-6%) and Spain (-10%).
    • Net solar production year-to-date was slightly lower than estimates and the same period last year (-13%).

     

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  • 08/2018: Monthly update for May 2018

    Wind

    • In May 2018, the total wind production was 33% below estimates.
    • In particular, due to poor wind conditions, production generated in all our countries was lower than expected.
    • Net wind production year-to-date was in line with budget and significantly higher than the same period last year (+15%).

     

    Solar

    • In May 2018, the total solar production was 6% lower than estimates.
    • In particular, the average irradiation was lower than expected both in Italy (-9%) and Spain (-5%).
    • Net solar production year-to-date was in line with estimates but considerably lower than the same period last year (-13%).

     

    Read the PDF file

     

  • 07/2018: Monthly update for April 2018

    Wind

    • In April 2018, the total wind production was 14% below estimates.
    • In particular, due to extraordinary poor wind conditions in Italy, production generated in our plants was 19% lower that expected. On the contrary, production from Spain (+21%) and Poland (+5%) was higher than expected due to good wind conditions.
    • Net wind production year-to-date was fairly higher than budget (+7%) and considerably higher than the same period last year (+26%).

     

    Solar

    • In April 2018, the total solar production was 3% higher than estimates.
    • In particular, the average irradiation was higher than expected in Italy and lower than expected in Spain.
    • Net solar production year-to-date was in line with estimates but considerably lower than the same period last year (-13%).

     

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  • 06/2018: Minutes of Annual General Meeting 2018

    The Annual General Meeting of Athena Investments A/S was held today.

    The shareholders at the General Meeting adopted the Board of Directors’ report on the activities, the Annual Report for 2017 and the distribution of the result for the year as proposed in the Financial Statements. The dividend will amount to DKK 0.259 (EUR 0.035) per share.

     

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  • 05/2018: Monthly update for March 2018

    Wind

    • In March 2018, the total wind production was 31% above estimates.
    • In particular, due to extraordinary favorable wind conditions, production generated in Spain (+44%) and Italy (+28%) was significantly higher than expected and higher that the same period in 2017, +94% and +65% respectively.
    • Net wind production year-to-date was considerably higher than budget (+13%) and the same period last year (+28%).

     

    Solar

    • In March 2018, the total solar production was 11% below estimates.
    • In particular, the average irradiation was lower than expected both in Italy (-16%) and Spain (-22%).
    • Net solar production year-to-date was in line with estimates but considerably lower than the same period last year (-16%).

     

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  • Notice of Annual General Meeting 2018

    Pursuant to article 8 of the articles of association, notice is given that the Annual General Meeting of Athena Investments A/S will be held on Tuesday, 24 April 2018 at 3.00 pm at Radisson Blu Royal Hotel, Hammerichsgade 1, 1611 Copenhagen, Denmark.

     

    Read the Notice

    Read the Complete Proposals

     

     

  • Annual Report for 2017

    Athena hereby publishes its Annual Report for 2017:

    + 59% in Profit for the year to EUR 8.8M compared to EUR 5.5M in 2016

    + 1% in Net production to 374 GWh compared to 372 GWh in 2016

    + 12% in Revenue, including Joint Ventures, to EUR 66.1M compared to EUR 59.1M in 2016

    71% EBITDA margin, including Joint Ventures and excluding Special Items, compared to 69% in 2016

    + 48% in Total cash flow from operating activities to EUR 23.8M compared to EUR 16.2M in 2016

     

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  • 04/2018: Monthly update for February 2018

    Wind

    • In February 2018, the total wind production was 8% below estimates.
    • In particular, due to poor wind conditions, production generated in all our countries was lower than expected.
    • Net wind production year-to-date is still fairly higher than budget (+4%) and the same period last year (+10%).

     

    Solar

    • In February 2018, the total solar production was in line with estimates.
    • In particular, the average irradiation was higher than expected in Spain, raising the solar production by +17% compared to estimates. In Italy, the solar production was slightly lower than expected (-5%) due to a lower average irradiation.
    • Net solar production year-to-date is still fairly higher than expected (+5%) but lower than the same period last year (-5%).

     

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  • 03/2018: Monthly update for January 2018

    Wind

    • In January 2018, the total wind production was 14% above estimates.
    • On the one hand, due to favourable wind conditions, the Italian wind farms performed significantly above budget: 27%. On the other hand, the Spanish and Polish wind turbines performed lower than expected but fairly higher (+9%) than the same period last year.

     

    Solar

    • In January 2018, the total solar production was 8% higher than estimated.
    • The average irradiation was fairly higher than expected in Italy and slightly lower than expected in Spain which was compensated by a good availability of the La Castilleja plant. The Italian and Spanish solar plants delivered a production of +10% and +4% respectively compared to estimates.

     

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  • 02/2018: Sale of Gehlenberg wind farm

    As anticipated in Company Announcement No. 19/2017, Athena Investments A/S (“Athena”) completed the transaction for the sale of its German wind farm Gehlenberg to Energiequelle.

    Following the sale of the German turbines, Athena no longer owns renewable energy plants in Germany.

    The total price of the transaction was EUR 9.0M.

     

     

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  • 01/2018: Monthly update for December 2017

    Wind

    • In December 2017, the total wind production was 27% above estimates.
    • In particular, due to extraordinary favorable wind conditions in almost all our countries, production generated was considerably higher than expected in Italy (+34%), Poland (+30%) and Spain (+35%) where production was 151% higher compared to December 2016.
    • In 2017, the wind portfolio reached a total net production of approx. 310 GWh which was in line with 2016.

     

    Solar

    • In December 2017, the total solar production was 11% higher than estimated.
    • In particular, due to higher irradiation, the Spanish and Italian solar plants performed significantly above budget: 22% and 6% respectively.
    • In 2017, the solar portfolio generated a net production of approx. 64 GWh which was 3% higher than in 2016.

     

    In 2017, Athena’s wind and solar assets have delivered a combined production in line with the Outlook announced in the Annual Report for 2016 and slightly higher than the Revised Outlook for 2017 (Company Announcement No. 16/2017).

     

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