Encavis AG publishes preliminary operating results for FY2017 and Earnings Forecast for FY2018

ENCAVIS AG / Key word(s): Final Results/Forecast
Encavis AG publishes preliminary operating results for FY2017 and Earnings Forecast for FY2018

19-March-2018 / 12:09 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.
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Encavis AG publishes preliminary operating results for FY2017 and earnings forecast for FY2018
 

Hamburg, 19 March 2018 - The SDAX listed, Hamburg-based solar and wind farm operator Encavis AG announces its preliminary operating business results for 2017. Accordingly, the company exceeded its own earnings forecasts for the 2017 financial year. These positive developments resulted primarily from the acquisition of additional solar and wind parks, the first year of full consolidation of the Encavis Asset Management AG (formerly CHORUS Clean Energy AG), as well as very good meteorological conditions. The Management Board of the Encavis AG expects the group's growth path to continue also in 2018.

Based on preliminary operating result, in the FY2017, the Encavis AG generated sales revenue amounting to approximately EUR 222.4 million in 2017 (Encavis forecast for 2017: EUR 215 million; 2016 sales: EUR 141.8 million). EBITDA (earnings before interest, taxes, depreciation and amortisation) totalled EUR 166.8 million (Encavis forecast for 2017: EUR 160 million; EBITDA 2016: EUR 106.1 million). EBIT (earnings before interest and taxes) rose to around EUR 100.4 million (Encavis forecast for 2017: EUR 97 million; EBIT 2016: EUR 61.6). Operating cash flow totalled over EUR 153.0 million (Encavis forecast for 2017: EUR 150 million; operating cash flow 2016: EUR 103.8 million).

Based on the existing portfolio of solar and wind parks at March 16, 2018, the Management Board of the Encavis AG expects total sales revenues to exceed EUR 240 million for the 2018 financial year. Consequently, operating EBITDA should rise to above EUR 175 million, operating EBIT to more than EUR 105 million. The Management Board expects cash flow from operating activities to amount to more than EUR 163 million. Moreover, the 2018 financial year will mark the first time that Encavis AG will include earnings per share (EPS) as a financial figure in its guidance statement. For the financial year 2018 EPS is estimate to reach EUR 0.30. In the financial year 2017 Encavis has acquired further solar and wind parks with a total generating capacity of some 100 MW that are scheduled for grid connection end of 2018. Incorporating the first full year of operation of these parks without any additional acquisitions would increase the EPS in the finical year 2019 to EUR 0.35.

The earnings forecast for the financial year 2018 are based entirely on the company's portfolio of solar and wind farms as it stands on 16 March 2018. Additional acquisitions and new instructions in the asset management segment that may come about over the course of the financial year have not been taken into consideration.

The preliminary figures presented do refer only to the operational earning capacity of Encavis AG; they do not take into account any IFRS-related measurement effects.

The preliminary business figures for Encavis are subject to audit and Supervisory Board approval. The final finance and earnings figures for the 2017 financial year will be published on 22 March 2018.

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
www.encavis.com
Twitter: twitter.com/encavis

19-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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


 
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