Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 159

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 159
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 Certificates and Long-term Offtake Agreements. The
United States Segment revenues are expected to be derived from Long-term Offtake Agreements. As of December 31, 2024, the Company had
no revenue from discontinued operations as the operating parks in Poland, the Netherlands, and Romania were sold. Additionally, the Company
had no revenue continuing operations as the Lightwave operating parks were sold back to the parent company, AEG, as a result of the deconsolidation
of Alternus Energy Americas Inc. on November 5, 2024.

In evaluating financial performance,
the CODM uses both gross profit and EBITDA to assess segment performance and decide how to allocate resources. However, after the sale
of Solis and its Romanian subsidiaries and the deconsolidation of Alternus Energy Americas and its United States subsidiaries and AEG
MH 01 and its Irish subsidiaries, the CODM now uses EBITDA, a non-GAAP measure, as the main measure of a segment’s performance because
no revenues or gross profit remains after disposal of these entities. EBITDA is defined as earnings before interest expense, income tax
expense, depreciation and amortization. The Company uses EBITDA because management believes that it can be a useful financial metric in
understanding the Company’s earnings from operations. EBITDA is not a measure of the Company’s financial performance under
GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP. As
a trans-Atlantic independent solar power provider, we evaluate many of our capital expenditure decisions at a regional level. Accordingly,
expenditures on property, plant and equipment and associated debt by segment are presented.

The following tables present
information related to the Company’s reportable segments. The data has been presented to show the effect of discontinued operations
from Poland, the Netherlands, and Romania for all periods.

    Three Months Ended March 31, 
  
    Revenue by Segment 
    2025  
    2024 

    (in thousands) 
  
    Europe 
    $          -  
    $- 
  
    Europe – Discontinued Operations 
     -  
     2,209 
  
    United States 
     -  
     93 
  
    Total for the period 
    $-  
    $2,302 

    Three Months Ended March 31, 
  
    Operating Loss by Segment