Renewables developer European Energy revenue and profit before tax were both down in the first half of 2018, compared with the same period of last year,
Revenue stood at just over €23.6m at the end of September, down from almost €129m last year, while profit before tax was close to €1.7m from over €17.1m in 2017.
The company said that sales in the last quarter of the year should boost the overall 2018 figures, however, the risk factors associated with developing and building wind and solar projects may cause delays.
If there are delays, expected revenue of €190m to €210m and profit before tax expectations of €26m to €28m for the whole of 2018 will be impacted.
But any project delays in Q4 will likely lead to revenue and profit recognition in the first half 2019, European Energy added.
Potentially four deals could be closed in the fourth quarter and recognised in the 2018 results.
The company added that it had wind projects totalling 155.8MW under construction and a further 306.5MW ready to build.
Some 93MW of solar farms are under construction with 159MW ready to build.
European Energy chief executive Knud Erik Andersen said: “The result is as expected. Our strong business momentum continued, supported by significant interest for our projects shown by institutional investors.
“The interest will materialize in additional sales in Q4. Moreover, we experienced growth in our development pipeline of projects along with projects that are ready to build or in construction.”