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Facts and figures

E-Star’s core activities remained essentially unchanged over the first decade of its operation, but the Company has seen a dramatic shift in the size and tenor of its projects and the sources of financing available to it, while its reach has extended beyond the country’s borders.

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E-Star aims to fulfil a pioneering and market-leading role, at regional as well as local level, in the application of world-class technologies and the adaptation of green energy systems.

Despite the global economic crisis, E-Star has achieved considerable growth in recent years. In comparison with the 2007 business year, group-level sales revenue rose by 208.8% over the two following years, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 250%, and after-tax profit grew by 281.3% in the business year ending on December 31st, 2009.

In 2009, despite the economic crisis, E-Star decided to strengthen its capital position, expand the range of its financing sources and undertake a number of large-scale heating modernisation projects, and extend the scope of its existing investment contracts. This was accompanied by a program of corporate restructuring, most of which was completed in 2010, to prepare the group for the faster pace of growth.

There was also a shift in emphasis in the energy division, as from 2010 the use of renewable and sustainable primary energy sources took on an even greater importance, with the aim of basing as many developments as possible on biomass and geothermal energy.

International investments also began to take on a special significance in 2010, a year that favoured the launch of Romanian projects. Our goal is to become a world-class alternative energy company active in 5 countries of the East Central European region by 2015.

The financial performance of E-Star Alternative Plc. from 2007 to 2009

(Figures are in thousands of HUF) 31.12.2007 31.12.2008 31.12.2009
Net sales revenues 1,279,712 3,221,048 3,910,906
Capitalised value of own performance 0 0 0
Other revenues 27,046 10,211 74,533
Material costs 839,653 123,244 106,088
Personnel costs 16,227 148,257 121,620
Depreciation 66,707 129,708 187,951
Other expenses 25,181 0 0
OPERATING PROFIT/LOSS 358,990 550,350 1,287,255
PROFIT/LOSS OF FINANCIAL TRANSACTIONS -46,445 -173,444 -188,405
PROFIT/LOSS ON ORDINARY BUSINESS 312,545 376,906 1,098,850
EXTRAORDINARY PROFIT/LOSS 1,969 0 0
Earnings before taxes 314,514 376,906 1,098,850
Minority Share 0 9,510 4,951
Tax liability 34,532 97,757 297,837
NET PROFIT PER BALANCE SHEET 279,982 288,658 805,965
Fixed assets 3,252,017 2,214,201 4,882,382
Intangible assets 371 17,126 14,330
Tangible assets 2,248,824 2,177,874 4,830,113
Financial investments 1,002,822 19,201 37,939
Current assets 926,479 2,139,666 1,934,623
Inventories 5,456 93,291 20,774
Receivables 903,870 1,177,074 815,566
Securities 184 0 7,050
Cash and cash equivalents 16,969 141,493 146,577
Prepaid expenses and accrued income 195,330 727,809 944,656
Total assets 4,373,826 4,353,867 6,817,005
Equity 2,577,814 650,458 2,551,472
Issued capital 20,000 20,000 24,000
Issued, unpaid capital 0 0 0
Capital reserves 0 0 1,096,000
Accumulated profit reserves -16,487 624,191 1,430,156
Fixed reserves 78,336 0 0
Revaluation reserves 2,215,983 0 0
Balance sheet profit/loss 279,982 288,658 805,965
Liabilities 1,683,762 3,703,409 4,265,533
Long-term liabilities 1,116,325 2,079,228 3,023,547
Short-term liabilities 567,437 1,624,180 1,241,986
Accrued expenses and deferred income 112,250 247,737 130,413
Total liabilities 4,373,826 4,353,867 6,817,005




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