Capital Stage AG increases its forecasts for the 2017 financial year following strong growth in the first half of 2017Hamburg, 24 August 2017 - The SDAX-listed Hamburg-based solar and wind park operator Capital Stage has adjusted its guidance for the 2017 financial year upwards due to the positive course of business in the first six months of the year. In the first half-year, on the basis of preliminary operating results, Capital Stage AG was able to increase revenue compared to the same period in the previous year by more than 75 per cent to EUR 113.8 million (6M 2016: EUR 64.9 million). Operating consolidated earnings before interest, taxes and depreciation and amortisation (EBITDA) went up from EUR 50.8 million to EUR 88.0 million, which corresponds to an increase of 73 per cent. Operating earnings before interest and taxes (EBIT) improved compared to the previous year by no less than 75 per cent and reached a level of EUR 55.9 million (6M 2016: EUR 31.9 million). According to preliminary calculations, cash flow from operating activities rose to EUR 69.9 million. This figure totalled EUR 44,9 million in the same period in the previous year. The takeover of CHORUS Clean Energy AG, the acquisition of further solar and wind parks and an increased amount of sunshine compared to the previous year all contributed to these positive figures.Today, against the backdrop of the positive development in earnings in the first half-year and the continued acquisition of solar and wind installations, the Management Board of Capital Stage AG has adjusted its guidance for the 2017 financial year originally published in December 2016. For the 2017 financial year, the Management Board of Capital Stage AG now expects revenue of greater than EUR 215 million (previously EUR 200 million). Group operating earnings before interest, taxes, depreciation and amortisation (EBITDA) should therefore increase to more than EUR 160 million (previously EUR 150 million). Operating earnings before interest and taxes (EBIT) should come in at over EUR 97 million (previously EUR 90 million). Cash flow from operating activities is expected to climb to over EUR 150 million (previously EUR 140 million).The adjusted earnings forecast for Capital Stage AG is based on the existing portfolio of solar and wind parks as of 24 August 2017. Potential acquisitions of additional solar and wind parks as well as new clients in the Asset Management division during the 2017 financial year were not taken into account, however.These forecasts for operating earnings indicators do not include any valuation effects resulting from the application of IFRS.
About Capital Stage AG:Capital Stage invests in and operates solar and wind parks in Germany, Denmark, Finland, France, the United Kingdom, Italy, Austria and Sweden. Including solar and wind parks acquired and operated as part of the asset management business for third parties, the company"s generation capacity totals almost 1.3 gigawatts. This makes Capital Stage one of Europe"s leading independent solar and wind park operators. With its solar and wind parks, the company generates attractive yields as well as continuous and predictable income. The Capital Stage AG share is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg stock exchange (ISIN: DE0006095003/WKN: 609500). Since 2014, the Capital Stage AG share has been included in the SDAX index of Deutsche Börse. You can find further information on the company at www.capitalstage.com.
Capital Stage AGGroße Elbstraße 5922767 HamburgFon: + 49 40 37 85 62-242Fax: + 49 40 37 85 62-129e-mail: email@example.com://www.capitalstage.comEnd of AnnouncementDGAP News Service