Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: UGE; UGEIF

Q3/19 Shows Solar Energy Solutions Provider Continues Transition to Higher Margin, Self-Developed Projects
News Update

Source:

Gross margins increased to 29% from 13% QoQ.

UGE International Ltd. (UGE:TSX.V; UGEIF:OTC) reported in a news release highlights from its Q3/19, which indicate growth.

During the quarter, the solar energy solutions firm, grew gross margins to 29% from 13% in Q2/19. EBITDA results improved 34%, and net loss decreased 68% year over year (YOY).

As for cost, UGE lowered sales, general and administrative expenses 35% since Q3/18 after downsizing less profitable aspects of the company. Net finance costs also decreased YOY, by 69%, after UGE paid off most of its debt in late 2018.

Regarding projects in UGE's queue, they continue to increase and amounted to $31.1 million worth at the end of Q3/19. Ninety-four percent of those are in the U.S. and the Philippines, UGE's growth markets.

Overall in Q3/19, the release noted, "UGE showed continued progress in its transition towards higher margin, self-developed projects in the U.S. and Philippines." The company states it expects revenue growth to ramp up in the near future from the 27 projects whose installation began during the previous quarter, Q2/19.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: none. She or members of her household are paid by the following companies mentioned in this article: none.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: UGE International. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with UGE International. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional, and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of UGE International, a company mentioned in this article.




Want to read more about Alternative - Solar and Alternative Energy investment ideas?
Get Our Streetwise Reports Resources Report Newsletter Free and be the first to know!

A valid email address is required to subscribe