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ENERGY & UTILITIES | Renewables / Solar
greencells.com

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Founded Year

2005

Stage

Acquired | Acquired

About Greencells Group

Greencells Group develops, builds, operates, and finances utility scale solar projects.

Greencells Group Headquarter Location

BahnhofstraBe 28

Saarbrucken, 66111,

Germany

+49 (0)681 992 669 0

Latest Greencells Group News

PRESS RELEASE : Greencells GmbH Group shows resilience in the financial year 2020 and continues to operate profitably

Jul 5, 2021

07/05/2021 | 05:12am EDT Message : *Required fields DGAP-News: Greencells GmbH / Key word(s): Annual ResultsGreencells GmbH Group shows resilience in the financial year 2020 and continues to operate profitably2021-07-05 / 11:09The issuer is solely responsible for the content of this announcement.=----------------------------------------------------------------------------------------------------------------------Greencells GmbH Group shows resilience in the financial year 2020 and continues to operate profitablySaarbrücken, 05 July 2021 - Greencells GmbH Group, a group of companies globally active as EPC and O&M service providerfor utility-scale solar power plants, has proven resilient in a challenging environment in the financial year 2020.With a gross revenue of EUR 80.0 million (2019: EUR 85.1 million), the company achieved consolidated earnings beforeinterest, taxes, depreciation, and amortization (EBITDA) of EUR 2.7 million (2019: EUR 5.3 million), despite one-offexpenses of EUR 1.3 million as a result of the successful issuance of the secured 6.5% Green Bond 2020/2025 (ISIN:DE000A289YQ5). After deduction of depreciation and amortization, consolidated operating profit (EBIT) amounted to EUR2.5 million (2019: EUR 5.0 million). The consolidated net profit for the year reached EUR 0.5 million after EUR 2.4million in the previous year.Cyrill Reidelstürz, CFO of Greencells GmbH, comments: "With the COVID-19 pandemic, we have lived through anunprecedented phase, both in personal and professional regard. Looking at Greencells GmbH's 2020 results, we can saythat the company has proven stable and resilient in a highly volatile, unpredictable global economy and logisticsenvironment. A net profit was generated despite unforeseen costs and shifts in project schedules. Greencells emerges ina strong position, with delayed projects now having been completed and successful sales activity generating a highorder backlog of new projects for the financial year 2021. "Andreas Hoffmann, CEO of Greencells GmbH: "Our company has proven its agility in a prolonged period of uncertainty. Weare today pleased to announce this solid result as well as to acknowledge the immense resilience of the entirerenewable energy sector in this challenging environment. Several of our key markets are conducting green recoveryprogrammes in the aftermath of the pandemic peaks and our company is well set up to benefit from these favourableindustry and market conditions. "With postponed 2020 projects being completed in the first half of the current financial year and a solid EPC projectpipeline in place, the group maintains a positive outlook for 2021.About Greencells GmbH:Greencells GmbH is a global provider of EPC and O&M services specialized in utility-scale solar power plants. Togetherwith its sister company Greencells Group Holdings Ltd. (together "Greencells Group"), which is active worldwide as asolar project developer, the company has the know-how in all project phases to optimally plan, finance, implement andoperate solar projects. Greencells GmbH, founded in 2009 and headquartered in Saarbrücken, has around 70 employees aswell as several hundred skilled workers at the active construction sites. As one of the largest European providers ofsolar power plants, Greencells Group has already been successfully involved in the construction or planning of over 2.2GWp capacity in more than 25 countries.Greencells contact:Alexandra Roger-Machart | Head of Communications and PRir@greencells.com | Mobile: +49 172 397 0957Greencells GmbHBahnhofstr. 2866111 SaarbrückenGermanywww.greencells.comFinancial press contact:Frank Ostermair, Linh Chungfrank.ostermair@better-orange.de | Phone: +49 89 88 96906 25Better Orange IR & HV AGHaidelweg 4881241 MunichGermanywww.better-orange.de=----------------------------------------------------------------------------------------------------------------------2021-07-05 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.dgap.de=----------------------------------------------------------------------------------------------------------------------Language: EnglishCompany: Greencells GmbH Bahnhofstraße 28 66111 Saarbrücken GermanyPhone: 0681/9926690E-mail: info@greencells.comInternet: www.greencells.comISIN: DE000A289YQ5EQS News ID: 1215246End of News DGAP News Service=------------ 1215246 2021-07-05

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