Renewable Energy Corporation has reported revenues of NOK1.48 billion in the third quarter 2007, an increase of 30% from the NOK1.14 billion reported in the third quarter of 2006.
Revenues for the first nine months of 2007 were NOK4.76 billion compared with the NOK3.01 billion reported for the first nine months of 2006, registering 58% growth.
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to NOK643 million in the third quarter 2007, compared with NOK522 million in the previous year.
The operating profit (EBIT) was NOK495 million in the third quarter, compared with NOK422 million in the same quarter in 2006. The EBIT margin decreased to 33% from 37%. For the first nine months of 2007 the EBIT was NOK1.91 billion compared with NOK1.02 billion for the same period of 2006, representing an increase of 87%.
Earnings per share was NOK0.63 in the third quarter of 2007, compared with NOK0.69 in the third quarter 2006.