Outlook for full year 2020
Management believes that the key assumptions underlying the financial outlook of the Company for 2020 are:
- Disposal of the remaining portfolio and implementation of new business.
- Improvement in Holding costs.
More specifically, the estimates are based on the following assumptions:
- Despite Athena is looking for new opportunities with a view to re-focusing its business, no new business has been included in the Outlook 2020. The remaining wind and solar assets classified as Discontinued operations are not included.
- At the end of 2019, Athena implemented a restructuring process with the purpose to reduce the operating costs and lessen the holding cost structure.
The Outlook for 2020 is negatively impacted by the portfolio disposal in the year and by the Discontinued operations. In 2020, EBITDA should result negative for approx. EUR 3.0-4.0M which represents the new level of Athena’s holding costs, sufficient to develop and manage potential new business. The implementation and consolidation of new business will modify the main key financial indicators of the Group.