Alternus has reported a fall in operating profit in the three months ending 30 September 2022, compared with the same period in 2021.
Operating profit was €2.6m in the third quarter of this year, compared with €3.3m in the same period in 2021.
EBITDA was flat the period, as a result of lower gross margins in the current quarter due to costs related to energy contracts in Romania which had a one-time €1.2m charge due to changes in Romanian energy legislation, an increase in administration cost of €1m year-on-year as part of investment in company growth and €600,00 additional costs related to uncapitalised costs in the Unisun subsidiary.
Gross margins for the period were 65% of booked revenues including the higher costs in Romania.
Compared to the same period last year, run-rate annual revenues stand at circa €30m with 168MW of operating solar parks in five European countries and a backlog of approximately 680MW of solar parks owned and in development.
A further 845MW of solar projects are under binding purchase contracts pending outcome of successful financing and achievement of relevant closing conditions.