ENCAVIS AG
DGAP-News: ENCAVIS AG / Key word(s): Quarter Results/Preliminary Results Encavis AG announces preliminary operating results for the first quarter 2018 and confirms forecast for the full financial year Hamburg, 24 May 2018 - Today, the SDAX-listed Hamburg-based solar and wind park operator Encavis AG published its preliminary operating results for the first quarter of 2018. The results show that the company was able to increase revenue against the previous year by around EUR 3.9 million to EUR 45.9 million. Additional growth momentum in the reporting period were suppressed by unfavourable meteorological conditions. Especially in Italy and Germany sun radiation was down between 12 to 18 per cent among regions compared to the previous year levels. Also wind conditions in core regions were slightly below their long-term average. Adjusted for these meteorological effects, revenues would have been more than three million Euro higher. The weather conditions accordingly also had an impact on key operating financial figures. Operating earnings before interest, taxes, depreciation and amortisation (operating EBITDA) increased by EUR 0.5 million to approximately EUR 31.5 million. The operating earnings before interest and taxes (operating EBIT) came in at EUR 13.5 million (3M 2017: EUR 15.0 million); without the unfavourable meteorological conditions operating EBIT would instead have grown by some 10 per cent year-over-year. Cash flow from operations rose significantly in the first quarter of 2018, increasing by some 29 per cent compared to the previous year to EUR 27.4 million (3M 2017: EUR 21.3 million). According to preliminary calculations, the equity ratio remained firm at 27.0 percent as of 31 March 2018 (31 December 2017: 27.7 percent). Encavis AG confirms forecast for the full 2018 financial year The Management of the Encavis AG has again confirmed its forecast for the full 2018 financial year and on behalf of a good start into the second quarter is very optimistic, that the company will make up for the unfavourable meteorological conditions in the reporting period during the remaining course of the year. The company expects to generate revenue of over EUR 240 million (2017: EUR 222 million). Operating EBITDA should increase to more than EUR 175 million (2017: EUR 167 million) and operating EBIT to more than EUR 105 million (2017: EUR 100 million). The Management expects cash flow from operating activities to come in at over EUR 163 million (2017: EUR 153 million). Operating earnings per share for 2018 are forecasted to reach EUR 0.30. Growth in 2018 thereby stands against a very strong financial year 2017 in which Encavis profited from very favourable weather conditions. Information regarding the preliminary operating figures for the first quarter of 2018 The figures presented pertain only to the company's operational earnings power; they do not take into account any IFRS-related valuation effects. The preliminary business figures for Encavis are subject to the corresponding audit certificate and approval by the Supervisory Board. The final financial and earnings figures for the first quarter of the 2018 financial year will be published on 31 May 2018. About the Encavis Group: Encavis AG is one of the leading independent power producers (IPPs) in the field of renewable energy in Europe. The company obtains and runs solar power plants and (onshore) wind farms in Germany and in eight other European countries. The total generation capacity of the Encavis Group is currently over 1.5 gigawatt (GW). With its wind farms and solar parks, the company generates attractive financial returns, as well as very stable income irrespective of economic conditions. Encavis AG also offers its long-standing experience and market knowledge in the renewable energy segment to institutional investors. Within the Encavis Group, the Encavis Asset Management AG (formerly known as CHORUS Clean Energy AG) is specialized in the business with institutional clients. Furthermore, the Encavis Technical Services GmbH is the Encavis Group's service unit for the technical management of solar parks. Encavis AG is predecessor of the Capital Stage AG and the CHORUS Clean Energy AG. Encavis AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, on the regulated market of the Hamburg Stock Exchange (ISIN: DE0006095003/WKN: 609500) and on the SDAX of the German Stock Exchange. You can find more information on the company at www.encavis.com Contact: Encavis AG Till Gießmann 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
24.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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, DE000A2GS625 |
| WKN: | 609500, A2GS62 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |
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