Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 89

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 for the three and six months, respectively, ended June
30, 2025 compared to the same period in 2024, due to all operating parks in Poland, the Netherlands and Romania being sold on January
19, 2024, February 21, 2024 and October 3, 2024, respectively.

Movement in Interest Expense

    Three Months Ended June 30, 

    2025  
    2024  
    Change  ($)  
    Change (%) 

    (in thousands) 
  
    Interest charged on debt 
    $800  
    $925  
    $(125) 
     (13)%
  
    Debt issuance cost expense 
     -  
     405  
     (405) 
     100%
  
    Amortization of debt discount 
     437  
     780  
     343  
     44%
  
    Total interest expense for continuing operations 
    $1,237  
    $2,110  
    $873  
     41%

    Six Months Ended June 30, 

    2025  
    2024  
    Change  ($)  
    Change (%) 

    (in thousands) 
  
    Interest charged on debt 
    $1,602  
    $542  
    $(1,060) 
     (196)%
  
    Debt issuance cost expense 
     -  
     405  
     (405) 
     100%
  
    Amortization of debt discount 
     1,837  
     1,312  
     (525) 
     (40)%
  
    Total interest expense for continuing operations 
    $3,439  
    $2,259  
    $(1,180) 
     (52)%

50

Net Loss

Net income for continuing operations increased
by $10 million for the three ended June 30, 2025 compared to the same period in 2024. This is primarily due to a gain on sale of the MH02
and the Italian subsidiaries of $11.9 million, offset by a increase in SG&A expense of $1 million and a reduction in interest and
other expenses of $0.3 million in compared to the same period in 2024.

Net income for continuing operations increased
by $12.1 million for the six