GLOBAL ECO POWER (ex Energeo) : Turnover of 1st half 2013: 4,070 KEUR - Continuation of the ambitious development strategy
Aix-en-Provence (France), July 26th, 2013. Global EcoPower (FR0011289198 - ALGEP), a "turnkey" constructor of power plants using renewable energy sources, reports its activity for the first half of the fiscal year 2013.
In the first half of 2013, Global EcoPower (GEP) achieved a turnover of € 4,070 K€ (audited figures) compared with almost nil revenues in the first half of 2012 (4 K€) and 5,621 K€ on the entire fiscal year 2012.
This half-year turnover consists almost totally of billings corresponding to the construction progress of the three wind farm projects. For the record, in 2012 GEP signed three contracts to build "turnkey" three wind power plants (excluding turbines) for a total installed capacity of 64 MW:
- "Montbray & Margueray" in the Manche department (50): wind farm of 20 MW;
- "La Guenelle" in the Marne department (51): wind farm of 22 MW;
- "La Voie Romaine" in the Marne department (51): wind farm of 22 MW.
These three construction contracts represent a global multiannual turnover of 19,916 K€, i.e. 1,116 K€ more than originally announced in the press release of April 8th, 2013. Indeed, GEP was able to significantly reduce the total investment of its client Leonidas & Associates. These savings, achieved on various positions initially budgeted, resulted in the signing, on June 28th, 2013, of an addendum granting GEP additional revenues.
Of this total amount of 19,916 K€, a turnover of 9,564 K€ has already been recognized in 2012 and in the first half of 2013.
In addition, GEP recorded 39 K€ of billings in the first half of 2013 under the operation and maintenance contract of the solar photovoltaic power plant called "Les Marottières" in the Maine-et-Loire department (49).
At mid-year GEP is confident in its ability to maintain at least this pace of activity in the 2nd half of 2013.
Meanwhile, the group has continued during the past semester the study of future wind projects, the signing of which should be finalized during the 2nd half of 2013.
FINANCIAL CALENDAR: publication of the 2013 interim financial statements, September 13th, 2013, after markets.
About Global EcoPower
Global EcoPower (GEP) is a "turnkey" constructor of power plants using renewable energies. GEP is listed on the NYSE Alternext Paris Market of NYSE Euronext (ISIN code: FR0011289198 - ALGEP).
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