European Energy A/S: Annual Report 2019

Written by Customer Service on . Posted in Public Companies.

Company announcement 5/2020 (16 April 2020)European Energy A/S’ Annual Report for 2019 is now available. It is attached to this company announcement and available on www.europeanenergy.dk under “Investors”.The European Energy Group delivered an impressive result for 2019, as the Group’s EBITDA totalled EUR 44.3 million (+32%) and the profit before tax was EUR 37.4 million (+44%), this compared to an EBITDA of EUR 33.6 million and profit before tax of EUR 25.9 million in 2018.European Energy experienced a continuous growth in the development pipeline of projects along with projects that are ready-to-build or under construction.European Energy maintains its positive outlook for 2020. European Energy continues to see interest for its energy parks among institutional investors despite the COVID-19 health crisis, while the second major business area, electricity sales, is not materially impacted by current low power prices in Europe, owing to most sales being done via long term offtake agreements.European Energy expects that 2020 will deliver an EBITDA level within the range of EUR 52-58 million. Profit before tax for 2020 is expected to reach EUR 35-39 million.Further information: Jonny Thorsted Jonasson, CFO: jtj@europeanenergy.dk or phone: +45 5180 0000This announcement has been made in accordance with the market abuse regulation (regulation (EU) no. 596/2014 on market abuse.AttachmentAnnual Report 2019

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