Greenko (AIM:GKO) - zero support for this one at the moment but cash generation set to kick-in
The Indian developer, owner and operator of clean energy projects announced results for the nine month period ending 31st December 2014 that were ahead at the sales level but were behind at the operating profit level. There are a lot of moving parts to this one, not to mention a change of reporting period and currency, which has probably unsettled.
Greenko is a mainstream participant in the growing Indian energy industry and a leading owner and operator of clean energy projects in India utilising a de-risked portfolio of wind, run-of-river hydropower, natural gas and biomass assets. In the period operational capacity grew 45.6% to 715 MW, generation increased 46.0% to 1,565 GWh and reported revenue increased 41.2% to US$100.2m, marginally ahead of the house broker’s forecast of US$97.3m. EBITDA increased 46.7% to $80.6m, profit after tax increased 31.0% to $15.9m and earnings per share came at a modest uplift to 6.10c (FY2014: 5.80c). Several new wind projects became operational during…