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Business Summary: Starhedge SA, formerly Global Energy SA, is a Poland-based company active in the renewable energy sector. The Company is engaged in energy production from different renewable sources through its brand Greenenergy, as well as crop production and dairy cattle farming for eco food, through its brand Graineco. The Company cooperates with Novenergia II Energy&Environmental (SCA) SICAR, as well as Fairplay Agriculutral Fund. It operates in Bulgaria. On March 26, 2014, the Company sold its remaining 50% stake in New Vision Management AD to IBG Consulting Co Ltd, China. It operates through several special purpose entities, such as KIS INVEST 1 OOD, KIS INVEST 2 OOD, KIS INVEST 3 OOD, KIS INVEST 4 OOD and KIS INVEST 5 OOD as well as KIS INVEST OOD.
Financial Summary: BRIEF: For the nine months ended 30 September 2023, Starhedge SA revenues decreased 12% to PLN25.7M. Net income applicable to common stockholders decreased 74% to PLN940K. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Other Operating Income decrease of 97% to PLN65K (income), Compensations and penalties increase from PLN51K to PLN130K (expense).