Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2080

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 6
Chunk 2080
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 United
States Segment revenues are 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.
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.

    Year Ended December 31, 
  
    Revenue by Segment 
    2024  
    2023 

    (in thousands) 
  
    Europe 
    $-  
    $3,360 
  
    Europe – Discontinued Operations 
     9,809  
     27,041 
  
    United States 
     311  
     116 
  
    Total for the period 
    $10,120  
    $30,517 

    Year Ended December 31, 
  
    Operating Income/(Loss) by Segment 
    2024  
    2023 

    (in thousands) 
  
    Europe 
    $(10,