Published: 19 August 2013 19 August 2013
NTR plc, a investor and asset manager of renewable projects, has announced its financial results for the year ended 31 March, 2013. The company delivered the key components of its three-year strategic plan a year ahead of schedule by successfully building cash reserves and consolidating the group into a slimmer, renewable investment and asset management group, with particular focus on wind energy.
The financial results reflect a very satisfactory performance with EBITDA from continuing operations up 324% on the previous year to €19.3 million and losses reduced to €16.2 million (from €88.8 million the previous year). Following a year which encompassed a series of transactions to reshape the group, total assets stand at €775 million, of which €504 million represents tangible assets and €150.9 million held in cash at year end. With the completion of the group’s consolidation strategy, NTR has identified the wind energy sector as being the core for its growth plans, with a focus on investing in and managing wind projects that offer attractive cash yields together with stable, predictable returns. NTR expects to invest in wind projects at later stages in the development cycle and add wind projects in EU markets to its current assets in the US.