Analyte Renewable Energy revenues amounted to NIS 56.3 million in the second quarter

Analyte Renewable Energy announced its financial results for the second quarter of 2020 as part of an increase in revenue and profit. The energy company's revenues amounted to NIS 56.3 million in the second quarter of the year, which is an increase of 50.5% compared to NIS 37.4 million in revenues in the second quarter of 2019.
Most of the revenue came from electricity generation projects abroad, which generated NIS 40.7 million in the quarter compared to NIS 24.7 million in the corresponding quarter last year. The rest of the revenue came from electricity generation in Israel and stood at NIS 15.6 million - an increase of 22.8% compared to the second quarter of 2019.
The company notes that most of the increase in revenue is attributed to the full operation of a wind farm in Serbia starting in the third quarter of 2019 and of solar projects in Hungary starting at the end of that quarter, which were therefore not recognized in the second quarter last year. Alongside them, the company began commercializing Sunlight 2 projects in Israel in early 2020.
The company's accounting operating profit was NIS 22.6 million, compared with NIS 14.9 million in the second quarter last year, and adjusted operating profit was NIS 51 million, compared with NIS 42 million.
The accounting profit attributed to the shareholders, however, was NIS 612,000 or NIS 0 per share, compared with a loss of NIS 5.2 million or NIS 1 per share in the corresponding period last year. And the total loss for the period attributed to shareholders was NIS 7 million, compared with a loss of NIS 6.3 million in the corresponding quarter last year, which the company attributes to the volatility of hedging transactions on loans.
Enlight is traded on the Tel Aviv Stock Exchange at a value of NIS 4.9 billion, closing the trading day today with an increase of 0.77% to 639 agorot per share, thus completing an increase of 47.44% from the beginning of the year.