Photon Energy Group Publishes Annual Report for 2020 with Improved EBITDA and Expanded IPP Portfolio

DGAP-Media / 19.04.2021 / 08:32 Photon Energy Group Publishes Annual Report for 2020 with Improved EBITDA and Expanded IPP Portfolio - The Company delivers strong results with an improved EBITDA of EUR 8.440 million (+6.3%) despite the challenges of COVID-19, records no impact from the pandemic on its electricity generation, nor to its EPC and O&M business segments, all key contributors to Photon Energy Group's growth in 2020

- The Company grew its IPP portfolio to 74.7 MWp (+23.0 MWp) and remains focused on its strategic goal to develop, design and construct new projects for its portfolio with a focus on Australia, Hungary, Poland and Romania; significant potential to expand in the field of water treatment technology is expected

- The report spotlights the Company's first sustainability report, formally expressing its commitment to delivering sustainable outcomes

Amsterdam - 19 April 2021 - Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) ('Photon Energy Group' or the 'Company'), an Amsterdam-based renewable energy company delivering solar energy and clean water solutions around the world, today published its 2020 annual report. The report includes the audited consolidated and standalone financial statements prepared in accordance with International Financial and Reporting Standards as well as the independent auditor's opinion.

'2020 was a year of hardship for so many, yet I am inspired by the way we have been able to adapt to this unprecedented environment,' said Georg Hotar, CEO of Photon Energy Group. 'I want to thank our employees, investors and partners - from local subcontractors to electricity distributors - who worked with us to ensure the supply of clean energy and water to our communities globally. The global pandemic did not slow us down; I believe that our achievements in 2020 stand as a testament to our ability to thrive despite unpredictable circumstances and I look into 2021 and beyond with utmost confidence in our significant growth.'