While EBIT increased to a record of EUR 1.087 million (+48.1% YoY), higher financial expenses related to our business expansion in the Hungarian market and an additional EUR bond placement brought about a loss of EUR -0.619 million before tax.
Bottom line, contrasted effects, consisting in an unrealized negative foreign currency translation difference connected to high market volatility for the Hungarian Forint (HUF) and the Czech crown (CZK) and a positive revaluation difference stemming from an adjustment to our portfolio revaluation model according IAS 16, incurred a total comprehensive income (TCI) of EUR 4.304 million comparing to EUR 3.189 million a year earlier.
Year-to-date, Photon Energy’s first nine month revenues increased by 3.4% to EUR 23.163 million, while EBITDA and EBIT both rose 19.7% to EUR 9.192 million and EUR 2.813 million, respectively. Photon Energy recorded a net loss of EUR -4.332 million compared to a net profit of EUR 1.896 million in the first nine months of 2019 and TCI amounted to EUR 1.162 million compared to EUR 5.028 million a year ago.
The company will present the results, followed by a Q&A session via a live webcast, on 13 November at 11:00 am CEST. Participants are invited to ask questions through the webcast chat box, or can email them in advance to firstname.lastname@example.org.
Legal basis: § 5 ust. 1 point no.1 of the Appendix 3 to Regulations of the Alternative Trading System -"Current and Periodical Information in the Alternative Trading System".