Interim Results - Highlights
22nd Jul 2010
One51 plc ("One51"), the investment company, today announced preliminary unaudited results for the six months to 30 June 2010. The full interim results presentation can be found in the Publications section of the website.
Highlights include -
- Turnover increased 26% on a like-on-like basis to €190 million, excluding turnover from the discontinued WEEE business in 2009.
- On a similar basis, earnings before interest, taxation, depreciation and amortization (EBITDA) increased 14% to €26 million. Earnings before interest and tax (EBIT) increased 18% to €18 million.
The improved results for the period reflect recovering volumes, stronger prices and reduced costs in One51's Environmental Services division.
Commenting on the results CEO Philip Lynch said that -
"One51 is performing ahead of budget and generating strong operating cash flows. Its considerable portfolio of investments, including NTR, OpenHydro and ICG are performing well and yielded cash dividends of more than €4 million during the period.
In the six months ending June 2010, One51 also continued to invest in developing its Environmental Services and Renewable Energy interests.
- One51's Environmental Services Division completed the acquisition of niche UK hazardous waste operator Alchema Ltd ("Alchema"). Alchema is located between the industrialised area of Newcastle and Edinburgh. The Environmental Services division is already the leading hazardous waste operator in Ireland and is developing a significant presence in this sector across the UK. It is also the largest shareholder in leading UK hazardous waste company, Augean plc.
- One51 also invested in Pioneer Green Energy and Island Renewable Energy. These are renewable energy companies focused on developing wind and solar energy in the United States and Europe under the leadership of experienced management teams,
These investments now bring One51's capital invested in the wider clean technology sector to over 75%. We look forward to continued development as 2010 progresses".
The full interim results presentation can be found at Interim Results 2010 in the Publications section of the website: