On 24 April, redT energy (RED LN)# , a developer of vanadium redox flow machines for large-scale energy storage applications, announced its FY 2016 results for the 12 months ended 31 December 2016. RED delivered revenues significantly ahead of our forecast (€10.8m vs. €6.6m) due to higher than expected contribution from its legacy carbon business. On an EBITDA level, the results were slightly ahead of our forecast with the increased EBITDA YoY loss as a result of RED spending more m
27 Apr 2017
FY 2016 Results and Outlook Update
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FY 2016 Results and Outlook Update
- Published:
27 Apr 2017 -
Author:
VSA Research Team -
Pages:
12
On 24 April, redT energy (RED LN)# , a developer of vanadium redox flow machines for large-scale energy storage applications, announced its FY 2016 results for the 12 months ended 31 December 2016. RED delivered revenues significantly ahead of our forecast (€10.8m vs. €6.6m) due to higher than expected contribution from its legacy carbon business. On an EBITDA level, the results were slightly ahead of our forecast with the increased EBITDA YoY loss as a result of RED spending more m