Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 310

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 310
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ortization 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 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 and the Spanish subsidiaries for a total of $15.5 million.

Liquidity and Capital Resources

Capital Resources

A key element to the Company’s financing
strategy is to raise much of its debt in the form of project specific non-recourse borrowings at its subsidiaries with investment grade
metrics. Going forward, the Company intends to primarily finance acquisitions or growth capital expenditures using long-term non-recourse
debt that fully amortizes within the asset’s contracted life, as well as retained cash flows from operations and issuance of equity
securities through public markets.

The following table summarizes certain financial
measures that are not calculated and presented in accordance with U.S. GAAP, along with the most directly comparable U.S. GAAP measure,
for each period presented below. In addition to its results determined in accordance with U.S. GAAP, the Company believes the following non-U.S.
GAAP financial measures are useful in evaluating its operating performance. The Company uses the following non-U.S. GAAP financial
information, collectively, to evaluate its ongoing operations and for internal planning and forecasting purposes.

The following non-U.S. GAAP table summarizes the
total capitalization and debt as of June 30, 2025 and December 31, 2024:

    As of June 30,  
    As of December 31, 

    2025  
    2024