Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 100

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 100
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 | $      | (2,461 | ) |     |        |  (38 | )% |

Cost of revenues for continuing operations decreased by $0.2 million for the three months ended September 30, 2024 compared to the same period in 2023 primarily driven by the decrease in costs for the Italian parks which were sold in December 2023. Cost of revenues for continuing operations decreased by $0.7 million for the nine months ended September 30, 2024 compared to the same period in 2023 primarily driven by the decrease in costs for the Italian parks which were sold in December 2023. There was very little variance in US costs year-on-year. Gross margins were 49% of sales for the three months ended September 30, 2024 compared to 77% for the same period in 2023, mainly due to the exclusion of Italian operating parks that were sold in December 2023. Cost of revenues for discontinued operations decreased by $0.5 million for the three months ended September 30, 2024 compared to the same period in 2023. All operating parks in Poland and the Netherlands were sold on January 19, 2024 and February 21, 2024, respectively, resulting in a $1.2 million decrease in cost of revenues. Romanian parks had a $0.7 million increase in operational costs driven by higher costs of energy acquisition for contracted revenues in the period. Cost of revenues for discontinued operations decreased by $1.7 million for the nine months ended September 30, 2024 compared to the same period in 2023. All operating parks in Poland and the Netherlands were sold on January 19, 2024 and February 21, 2024, respectively, resulting in a $3.2 million decrease in cost of revenues. Romanian parks had a $1.5 million increase in operational costs driven by higher costs of energy acquisition for contracted revenues in the period. Approximately 40% of annual Romania revenue is currently under contract at rates which are lower than the prevailing market rates. Selling, General and Administrative Expenses Selling, general and administrative expenses for the three and nine months ended September 30, 2024 and 2023 were as follows:

|                                     |     | Three Months Ended September 30, 
 2024                             
 (in thousands)                   |       |     | 2023 |       |     | Change 
 ($)    |      |   |     | Change 
 (%)    |