Analyte Energy: A 14% increase in revenue since the beginning of the year

by time news

Renewable Energy Company Anlite Reported today (Monday) its results for the first nine months of 2021 and the third quarter of the year. Revenue (Non-Gaap) since the beginning of the year amounted to NIS 309 million, an increase of 14% compared to the same period last year.

EBITDA amounted to NIS 211 million, an increase of 1% compared to the corresponding period, and EBITDA, excluding a one-time expense of NIS 23 million due to the acquisition of Clenera, amounted to NIS 234 million, an increase of 13% compared to the corresponding period. The FFO increased by 42% and reached NIS 175 million.

In the third quarter, the company’s revenues totaled NIS 109 million, an increase of 9% compared to the corresponding quarter. EBITDA amounted to NIS 68 million, a decrease of 9%, but excluding a one-time expense of NIS 12 million due to the acquisition of Clenera, EBITDA amounted to NIS 80 million, an increase of 7% over the corresponding period. The FFO amounted to NIS 60 million, an increase of 30% compared to the same period last year.

The company notes that the productive output of the projects is expected to reach about 721 megawatts by the end of the current year and generate revenue at an annual rate of about NIS 620 million.

Gilad Yavetz, CEO of Analite, noted that “the company continues to show an increase in activity, in line with the business plan presented to the market, and estimates that it will end 2021 on the high side of the revenue forecast provided. “In the coming weeks, the company expects to connect to the electricity grid of other large facilities, and these are expected to significantly increase revenues by 2022. American activity is beginning to mature with preparations for the start of construction of a first 105 MW project in the fourth quarter of this year.”

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