OPG 2016 interim results

DividendMax Ltd.

OPG 2016 interim results

Operating capacity increased by 122% from 270 MW to 600 MW

First 150 MW Gujarat unit started operation in Apr 2015 and ramped up to 85% in Oct 15

180 MW Chennai unit commenced operation and continuing to ramp up

Operating capacity to increase to 750 MW imminently

Second 150 MW Gujarat unit - transmission line connected and synchronised; on track for commercial operation to commence in Jan 2016

Additional Highlights for the period

EBITDA margin of 41% up from 36% compared with H1 FY15

Profit before tax of £15.0 million up by 46% compared with H1 FY15

EPS of 3.41 pence up by 52% compared with H1 FY15

Gearing of 56% down from 59% at year-end; loan repayments of over £13 million made in the period

Run-rate revenues growing: Oct 2015 billings approximately £11 million for Chennai plant (Oct. PLF 70%)

Gujarat revenues and expenses being capitalised until Jan 2016 (as previously reported)

New 257 MW of three year captive sales agreements at Chennai plant, transforms our sales mix

Non-binding MoUs for pipeline projects

Companies mentioned