TERNA ENERGY announced its revenues rose 42.5% and net profit 41.0% in the first half of the year, as a result of increased installed capacity and more favorable wind conditions, compared to the corresponding period of the previous year.
The installed capacity amounted to 1,224 MW in the first half of 2024 compared to 1,096 MW in the same period last year. The 327 MW Kafirea project was fully electrified in the last quarter of 2023. Since the beginning of the year, TERNA ENERGY continued the further development of its portfolio, as 63 MW of photovoltaics are under construction in Greece, while the construction of another 550 MW of new projects of various technologies (mainly PV but also wind and storage projects) in Greece and abroad is gradually starting which are expected to be operational by the end of 2025, representing a total investment of 370 million euros. At the same time, the construction of the Amfilochia pumping and storage project is progressing according to plan.
Total revenues from continuing operations in the first half of 2024 amounted to 152.1 million euros compared to 106.7 million in the first half of 2023, following the increase in energy production and sales.
In terms of profitability, adjusted EBITDA from continuing operations stood at 96.9 million euros compared to 71.8 million euros in the corresponding period of the previous year, following higher sales, representing an increase of 35.0%.
Profit before taxes from continuing operations amounted to 40.3 million, up 49.9% compared to 26.8 million in the corresponding six-month period of the previous year. The net profit from continuing operations amounted to 29.9 million euros, an increase of 46.3% compared to the corresponding six-month period of the previous year (20.4 million euros).
