Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1079

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 2
Chunk 1079
---
 31,
2023.

Net Loss

Net loss for continuing operations decreased by
$7.9 million for the year ended December 31, 2024 compared to the same period in 2023. This is primarily due to a decrease in cost of
revenues of $0.9 million, depreciation of $1.5 million, loss on disposal of asset of $5.5 million, and other expense of $14.3 million.
This was partially offset by a decrease in revenues of $3.2 million, an increase in SG&A expenses of $7.0 million, development costs
of $0.4 million, interest expense of $3.1 million, and income tax of $0.6 million.

Net loss for discontinued operations decreased
by $82.7 million for the year ended December 31, 2024 compared to the same period in 2023. This is primarily due to a decrease in cost
of revenues of $3.2 million, SG&A expenses of $4.7 million, depreciation of $3.3 million, development costs of $0.4 million, interest
expense of $10.0 million, other expense of $25.0 million, tax expense of $0.2 million, and a gain of $53.0 million for the net sale of
the Poland, Netherlands, and Romanian operating parks in January, February, and October 2024, respectively. This was offset by a decrease
in revenues of $17.2 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 US GAAP, along with the most directly comparable US GAAP measure, for
each period presented below. In addition to its results determined in accordance with US GAAP, the Company believes the following non-US
GAAP financial measures are useful in evaluating its operating performance. The Company uses the following non-US GAAP financial
information, collectively, to evaluate its ongoing operations and for internal