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MarketScreener Homepage  >  Equities  >  Xetra  >  Encavis AG    CAP   DE0006095003

ENCAVIS AG

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

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05/28/2019 | 10:35am EDT

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

28-May-2019 / 16:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.




Ad-hoc-Release:
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.

 

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
E-Mail: joerg.peters@encavis.com


28-May-2019 CET/CEST 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: 816763

 
End of Announcement DGAP News Service

816763  28-May-2019 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=816763&application_name=news&site_id=zonebourse

© EQS 2019
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Sales 2019 254 M
EBIT 2019 126 M
Net income 2019 42,8 M
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Yield 2019 3,59%
P/E ratio 2019 33,4x
P/E ratio 2020 37,9x
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