Disclosure of an inside information acc. to Article 17 MAR
Encavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019
Hamburg, May 28, 2019 - SDAX-listed Encavis AG (ISIN: DE0006095003, Prime Standard) today sold 49 percent of the shares in each of the four German wind parks Briest, Breitendeich, Debtstedt and Lunestedt to a special fund managed by an institutional customer in Luxembourg.
Subject to the upcoming antitrust investigation, Encavis AG will receive 24 million euros in cash. The sale price achieved confirms the balance sheet values of the existing portfolio according to IFRS and leads to a significant profit under the German Commercial Code. Against this background and taking into account the very positive operating development of the Group, the Management Board of Encavis AG raises its guidance for sales to > EUR 260 million (previously > EUR 255 million), EBITDA to > EUR 210 million (previously > EUR 190 million), EBIT to > EUR 125 million (previously > EUR 114 million), operating cash flow to > 190 million EUR (previously > 188 million EUR) and the operating earnings per share (EPS) for the full year 2019 from 0.35 EUR to 0.40 EUR.
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
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