Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Encavis AG    CAP   DE0006095003

ENCAVIS AG

(CAP)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

ENCAVIS AG: Encavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/28/2019 | 10:35am EDT

DGAP-News: ENCAVIS AG / Key word(s): Forecast/Strategic Company Decision
ENCAVIS AG: Encavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019

28.05.2019 / 16:32
The issuer is solely responsible for the content of this announcement.




Corporate News

Encavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019

Hamburg, May 28, 2019 - Encavis Asset Management AG, a 100% subsidiary of the SDAX-listed Hamburg-based solar and wind park operator Encavis AG (ISIN: DE0006095003, Prime Standard), has sold 49 percent of the shares in each of the four German wind parks 'Briest', 'Breitendeich', 'Debtstedt' and 'Lunestedt' on behalf of Encavis AG to a special fund managed in Luxembourg for an institutional customer. Subject to the upcoming antitrust investigation, Encavis AG will receive 24 million euros in cash.

The strategic decision of the Encavis Group to sell minority interests of up to 49 percent in selected wind and solar parks to institutional investors in the future releases existing cash reserves for investments in further projects, confirms the balance sheet valuations of the assets of the existing portfolio (according to IFRS) and results in book profits in the individual financial statements (according to HGB).

"The sale of minority interests in four wind parks to a special fund of an institutional customer of Encavis Asset Management will be the guideline for the even stronger exploitation of the potential of our internal financing power in the future. These funds allow us to acquire further wind parks in order to further diversify our portfolio of wind farms," said Dr. Dierk Paskert, CEO of Encavis AG, explaining the Group's strategic direction.

The respective sales price achieved for the individual wind parks confirms the balance sheet valuations according to IFRS in the consolidated balance sheet. With respect to German accounting standards according to HGB, a book profit of more than 30 percent is realized on the wind parks acquired 2 to 3 years ago. "We are pleased to be able to provide evidence of the value of our existing portfolio with this transaction, which was concluded in competition with two international insurance companies. As this example shows, our selective acquisition and the technical and commercial optimization of our parks enable us to create considerable value. On the basis of this successful proof of value and against the background of the Group's very positive operating performance, we are raising our guidance for 2019 as a whole without taking into account the positive weather effects of the first quarter," said Dr. Christoph Husmann, CFO of Encavis AG, stressing the positive financial effects of this transaction.

The Management Board now expects sales to rise to more than 260 million euros (previously more than 255 million euros) and operating EBITDA to increase to more than 210 million euros instead of the previously forecast 199 million euros. At Group level, the company anticipates an increase in operating EBIT to a good 125 million euros instead of 114 million euros. The Management Board expects the operating cash flow to reach a level of over 190 million euros (previously 188 million euros). This results in an increased forecast of operating earnings per share (EPS) for the full year 2019 of EUR 0.40 (previously EUR 0.35).

 

About Encavis:
Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable sources listed in the SDAX of Deutsche Börse. As one of the leading Independent Power Producers (IPPs), Encavis acquires and operates solar power plants and (onshore) wind farms throughout Europe. The plants for sustainable energy generation generate stable returns through guaranteed feed-in tariffs or long-term purchase agreements (PPAs). Within the Encavis Group, Encavis Asset Management AG specialises in the area of institutional investors. Encavis Technical Services GmbH is the Group's own service unit for the technical management of solar parks.

Further information on the company can be found at www.encavis.com
 

Contact:

Encavis AG

Jörg Peters

Head of Investor Relations & Public Relations
Tel.: + 49 40 37 85 62-242
Fax: + 49 40 37 85 62-129
E-Mail: joerg.peters@encavis.com




Contact:
Encavis AG
Jörg Peters
Head of Investor & Public Relations
------------------------------------------------------------
Große Elbstraße 59
22767 Hamburg

Fon: + 49 40 37 85 62-242
Fax: + 49 40 37 85 62-129
e-mail: till.giessmann@encavis.com
http://www.encavis.com
Twitter: https://twitter.com/encavis


28.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: ENCAVIS AG
Große Elbstraße 59
22767 Hamburg
Germany
Phone: +49 4037 85 62 -0
Fax: +49 4037 85 62 -129
E-mail: info@encavis.com
Internet: www.encavis.com
ISIN: DE0006095003
WKN: 609500
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 816769

 
End of News DGAP News Service

816769  28.05.2019 

fncls.ssp?fn=show_t_gif&application_id=816769&application_name=news&site_id=zonebourse

© EQS 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ENCAVIS AG
06/27CORRECTION OF A RELEASE FROM 25/06/2 : 01 CET/CEST - ENCAVIS AG: Release accordi..
EQ
06/25ENCAVIS AG : Release according to Article 41 of the WpHG [the German Securities ..
EQ
06/17ENCAVIS AG : Majority of shareholders (54.4%) prefer new Encavis shares to cash ..
EQ
05/28ENCAVIS : releases cash reserves through sale of minority interests in wind park..
EQ
05/28ENCAVIS AG : Encavis Group releases cash reserves through sale of minority inter..
EQ
05/28ENCAVIS : starts 2019 with excellent results
EQ
05/27ENCAVIS AG : Preliminary announcement of the publication of quarterly reports an..
EQ
05/23ENCAVIS AG : Notification and public disclosure of transactions by persons
EQ
05/15AGM OF ENCAVIS AG APPROVES CASH DIVI : 1 and elects Dr. Marcus Schenck to the Su..
EQ
03/22ENCAVIS : again raises dividend proposal and confirms preliminary operating resu..
EQ
More news
Financials (EUR)
Sales 2019 254 M
EBIT 2019 126 M
Net income 2019 42,8 M
Debt 2019 1 397 M
Yield 2019 3,61%
P/E ratio 2019 33,3x
P/E ratio 2020 37,7x
EV / Sales2019 9,25x
EV / Sales2020 8,48x
Capitalization 951 M
Chart ENCAVIS AG
Duration : Period :
Encavis AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENCAVIS AG
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Average target price 8,07  €
Last Close Price 7,25  €
Spread / Highest target 21,4%
Spread / Average Target 11,3%
Spread / Lowest Target -8,97%
EPS Revisions
Managers
NameTitle
Dierk Paskert Chief Executive Officer
Manfred Krüper Chairman-Supervisory Board
Holger Götze Chief Operating Officer
Christoph Husmann Chief Financial Officer
Alexander Stuhlmann Deputy Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
ENCAVIS AG32.00%1 066
BROOKFIELD RENEWABLE PARTNERS LP32.79%11 292
EDP RENOVÁVEIS SA17.43%8 889
NORTHLAND POWER INC.16.68%3 548
ZHEJIANG WEIMING ENVIRNMNT PRTCTN CO LTD24.42%2 923
NEXTERA ENERGY PARTNERS LP15.08%2 818