Highlights Q3 2023
EBITDA for the quarter was EUR 34 thousand and accumulated for the year minus EUR 798 thousand. Normal operations, adjusted for legal costs resulted in an EBITDA of EUR 161 thousand for the quarter, and minus EUR 91 thousand accumulated for the year, equivalent to an adjusted EBITDA margin of 49 per cent and minus 12 per cent respectively.
Cost of operations and SG&A were EUR 50 thousand and EUR 121 thousand for the quarter, and EUR 150 thousand and EUR 728 thousand accumulated for the year respectively.
Legal costs were EUR 128 thousand in the quarter and EUR 707 thousand accumulated for the year.
On 12 July 2023, Section V of the Criminal Appeal Court of Milan notified the parties that the appeal process for the criminal proceedings related to the P31 fraud case will continue with a first hearing set for 30 November 2023.
Regarding the new arbitration in Milan of 2020, the final hearing in this arbitration took place on 13 September 2023. The arbitration tribunal has set a term until 26 January 2024 to deliver their final decision.
For further information, please contact: Viktor E Jakobsen, Chairman, 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.