I understand the difference between cash and profit, but to survive 39 years without making a profit must be some kind of record! Those are patient investors.
It is possible that the company is structured to make a loss so that it can avoid tax. This would definitely be worthwhile if the investors are on the payroll. They could take large salaries and dividends ensuring that the business remains unprofitable. Despite such structuring, it may have made an inadvertent profit due to increased subsidies for renewable energy and a shortage of a equivalent goods.