USA, Nevada:

Interview With Yehudit Bronicki, CEO of Ormat Technologies, Inc. (The Wall Street Transcript)

Yehudit Bronicki, CEO of Ormat Technologies,
Inc. (Courtesy Haaretz Daily Newspaper Ltd)

The Wall Street Transcript (TWST) has just published its Alternative Energy Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts.

In the following excerpt from the Alternative Energy Report, the CEO of Ormat Technologies, Inc. discusses company strategy and the outlook for this vital industry:

TWST: You reported your second-quarter results yesterday. Can you share some highlights from the quarter with us?

Mrs. Bronicki: The quarter was one of the strongest quarters we had, maybe the strongest - certainly record revenues and very high EBITDA and net income. I mean, really in all parameters is really strong quartile believing by both segments, the electricity segment and the product segment.

The electricity segment is undergoing a challenge period with low natural gas prices that impact certain of our contracts in California, but because of the performance of this segment in other areas, we have been able to show growth despite the weakness caused by the natural gas prices. This is a temporary weakness, because those contracts are going to reach their term, one in 2015 and the other one in 2017. There is another one that goes a little longer, and once they expire we will be able to replace them by what is today considered to be market prices of renewable energy, and that's much higher than what we are getting for these contracts today. So that's on the electricity segment.

On the product segment, which was also very strong because of the strong backlog, we generated gross income that is very high. So high revenues, high gross income, and we expect the balance of the year and even looking into next year to continue to be strong also in the product segment. Our current backlog, and when we say current backlog, we mean disregarding revenues that were generated from June 30 to-date, is $170 million, which is a very nice backlog even though not the highest we had, but a very strong and good backlog.

GRC Company member Ormat Technologies will be at booth #301 at the GEA Expo run in conjunction with the GRC Annual Meeting, Sept. 29-Oct. 2 at the MGM Grand, Las Vegas, Nevada.

Read More......