HIGHLIGHTS Q2 2022
EBITDA for the quarter was minus EUR 338 thousand and accumulated for the year minus EUR 629 thousand. Normal operations, adjusted for legal costs resulted in an EBITDA of EUR 75 thousand for the quarter and EUR 82 thousand for the first half year, equivalent to an adjusted EBITDA margin of 21 per cent and 13 per cent respectively.
Cost of operations and SG&A were EUR 56 thousand and EUR 219 thousand for the quarter and EUR 116 thousand and EUR 458 thousand accumulated for the year respectively.
Legal costs were EUR 413 thousand in the quarter and EUR 711 thousand accumulated for the year.
On 1 July 2022 Oslo District Court dismissed EAM Solar ASA’s request for a Private Criminal Proceeding against Enovos Luxembourg SA.On
15 July the Company filed an appeal of the decision by the Oslo District Court to the Borgarting Appellate Court.
The Board of Directors has accepted an offer for a private placement of shares in Energeia AS whereby the Company subscribes for 6 852 210 new shares in Energeia at par value of NOK 0.02 per share for a total amount of
NOK 137 044.20. The number of subscribed shares equals the total number of outstanding shares in EAM Solar ASA. Following the private placement EAM Solar ASA will control 14.42 per cent of the outstanding shares in Energeia AS. The private placement is conditional upon the board of EAM Solar ASA calling for an extraordinary general meeting of the Company, where the Board shall suggest that the received shares in Energeia AS will be distributed as dividends to the shareholders of the Company. See chapter on "Business development activities” below for more information.
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 acquisition of solar power
plants.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.