HIGHLIGHTS Q3 2019
■ EBITDA for the quarter was EUR 49 thousand and accumulated for the year EUR 705 thousand. Normal operations, adjusted for legal costs resulted in an EBITDA of EUR 473 thousand for the quarter and EUR 1 598 thousand accumulated
for the year, equivalent to an adjusted EBITDA margin of 60 per cent and 54 percent, respectively.
■ Cost of operations and SG&A were EUR 61 thousand and EUR 249 thousand for the quarter and EUR 290 thousand and EUR 1 048 thousand accumulated for the year respectively.
■ Legal costs were EUR 424 thousand in the quarter and EUR 894 thousand accumulated for the year respectively.
■ On 15 August 2019 EAM Solar ASA sold the shares in the subsidiary EAM Solar Norway Holding AS to Energeia AS. The
financial take-over date was 1 August 2019. EAM Solar ASA Group recognized a profit from the sale of EUR 2.6 million.
The capital gain for the parent company was NOK 53 million. After the sale the group equity is EUR 12 million, and the parent company EUR 17.5 million.
■ On Tuesday 15 October 2019 the Criminal Court of Milan released the grounds for the ruling published on 18 April 2019.
■ In Luxembourg, EAM Solar ASA filed on 11 July 2019 a civil lawsuit against the Aveleos shareholder, Enovos Luxembourg SA, its parent company Encevo SA, along with four Enovos-employed directors of Aveleos.
For further information, please contact: Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
About EAM Solar ASA: EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts. In addition,
the Company's business is lawsuits in relation solar power plants.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.