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GENEVA, Aug. 06, 2020 (GLOBE NEWSWIRE) — Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX) (OMX: ETX), an  absolute renewable adeptness producer, appear today its abridged circumscribed acting banking statements and accompanying management’s altercation and assay (“MD&A”) for the three and six months concluded June 30, 2020.



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Etrion delivered abiding project-level after-effects in the added division of 2020 from its Japanese assets. The access of the Japanese accumulated anatomy and renegotiation of the operations and aliment (“O&M”) affairs partially account the appulse of lower solar betterment levels compared to the aforementioned aeon in 2019.

Q2-20 HIGHLIGHTS



Operational



Financial

Management Comments

Marco A. Northland, the Company’s Chief Executive Officer, commented, “Etrion has a airy and solid solar belvedere in Japan, operating after abeyance during the all-around pandemic. Our solar plants abide to bear abiding revenues and EBITDA with able absolute results. Our 45 MW Niigata solar activity beneath architecture is on agenda and budget. On the development side, we abide optimistic a adjustment will be accomplished on the 60 MW Mie activity afore year-end.”

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FINANCIAL SUMMARY

Operations and Finance Amend callA appointment alarm webcast to present the Company’s added division 2020 Operations and Finance amend will be captivated on Thursday, August 6, 2020, at 10:00 a.m. Eastern Standard Time (EST) / 4:00 p.m. Axial European Time (CET).

Dial-in details:North America: 1-647-788-4919 / Toll Free: 1-877-291-4570 / Sweden Toll Free: 02-079-4343Conference ID: 3196284

Webcast:A webcast will be accessible at https://www.webcaster4.com/Webcast/Page/1297/33372

The Operations and Finance amend alarm presentation and the Company’s abridged circumscribed acting banking statements for the three and six months concluded June 30, 2020, as able-bodied as the accompanying documents, will be accessible on the Company’s website (www.etrion.com)  A epitomize of the blast appointment will be accessible until August 16, 2020.

Replay dial-in details:North America: 1-416-621-4642 / Toll Free: 1-800-585-8367 Passcode for replay: 3196284

About Etrion 

Etrion Corporation is an absolute adeptness ambassador that develops, builds, owns and operates utility-scale solar adeptness bearing plants. The Company owns and operates 57 MW of solar accommodation and owns the 45 MW Niigata activity beneath construction, all in Japan. The Company is listed on the Toronto Stock Barter in Canada and the NASDAQ OMX Stockholm barter in Sweden beneath ticker attribute “ETX”. Etrion’s better actor is the Lundin family, which owns about 36% of the Company’s shares anon and through assorted trusts.

For added information, amuse appointment the Company’s website at www.etrion.com or contact:

Christian Lacueva – Chief Banking Officer Telephone: 41 (22) 715 20 90  Note: The accommodation of adeptness plants in this absolution is declared in almost megawatts on a absolute accepted (“DC”) basis, additionally referred to as megawatt-peak (“MWp”).

Etrion discloses the advice provided herein pursuant to the Swedish Balance Market Act. The advice was submitted for advertisement at 8:05 a.m. CET on August 6, 2020.

Non-IFRS Measures:This columnist absolution includes non-IFRS measures not authentic beneath IFRS, accurately balance afore interest, taxes, abrasion and acquittal (“EBITDA”) and Adapted operating banknote flow. Non-IFRS measures accept no connected acceptation assigned beneath IFRS and appropriately such measures may not be commensurable with those acclimated by added companies.  EBITDA is a advantageous metric to quantify the Company’s adeptness to accomplish banknote afore amazing and non-cash accounting affairs accustomed in the banking statements. In addition, EBITDA is advantageous to assay and assay advantage amid companies and industries because it eliminates the furnishings of costs and accounting action decisions. The best commensurable IFRS admeasurement to EBITDA is net assets (loss). In addition, adapted operating banknote breeze is acclimated by investors to assay banknote flows from operating activities after the furnishings of assertive airy items that can absolutely or abnormally affect changes in alive basic and are beheld as not anon accompanying to a company’s operating performance. The best commensurable IFRS admeasurement to adapted operating banknote breeze is banknote breeze acclimated in operations. Refer to Etrion’s MD&A for the three and six months concluded June 30, 2020, for a adaptation of EBITDA and adapted operating banknote breeze appear during the period.

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Forward-Looking Information: This columnist absolution contains assertive “forward-looking information”. All statements, added than statements of absolute fact, that abode activities, contest or developments that the Company believes, expects or anticipates will or may action in the approaching (including, after limitation, statements apropos to the architecture and operation of the Niigata project) aggregate advanced information. This advanced advice reflects the accepted expectations or behavior of the Company based on advice currently accessible to the Company as able-bodied as assertive assumptions including, after limitation, the adeptness of the Company to assassinate on its development projects in Japan on bread-and-butter agreement and in a appropriate manner. Advanced advice is accountable to a cardinal of cogent risks and uncertainties and added factors that may account the absolute after-effects of the Company to alter materially from those discussed in the advanced information, and alike if such absolute after-effects are accomplished or essentially realized, there can be no affirmation that they will accept the accepted after-effects to, or furnishings on the Company. Factors that could account absolute after-effects or contest to alter materially from accepted expectations include, but are not bound to, the accident that the Company’s solar projects may not aftermath electricity or accomplish revenues and balance at the levels expected, the accident that the Company may not be able to access all applicative permits for the development of projects in Japan and the associated activity costs appropriate for the development of such projects on bread-and-butter terms, uncertainties with account to the abeyant appulse of the accepted COVID-19 communicable on the Company’s operations, the accident that the action apropos the Company’s excess activity may not aftermath a favorable aftereffect and the accident of abrupt delays in the development and architecture of its projects. Reference is additionally fabricated to the accident factors appear beneath the branch “Risk factors” in the Company’s AIF for the year concluded December 31, 2019 which has been filed on SEDAR and is accessible beneath the Company’s contour at www.sedar.com.

Any advanced advice speaks alone as of the date on which it is fabricated and, except as may be appropriate by applicative balance laws, the Company disclaims any absorbed or obligation to amend any advanced information, whether as a aftereffect of new information, approaching contest or after-effects or otherwise. Although the Company believes that the assumptions inherent in the advanced advice are reasonable, advanced advice is not a agreement of approaching achievement and appropriately disproportionate assurance should not be put on such advice due to the inherent ambiguity therein.

_____________________________

1  MWh = Megawatt-hour

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Last Updated: September 13th, 2020 by admin
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