DGAP-News: ENCAVIS AG / Key word(s): Annual Results/Dividend
ENCAVIS achieves record results with rising margins in 2019
Revenues increase by 10% to EUR 273.8 million (2018: EUR 248.8 million)
Operating EBITDA increases by 16% to EUR 217.6 million (2018: EUR 186.9 million)
Operating EBIT increases by 16% to EUR 132.2 million (2018: EUR 113.7 million)
Operating earnings per share jump by 39% to EUR 0.43 (2018: EUR 0.31)
Management Board again confirms growth strategy >> Fast Forward 2025
Management Board and Supervisory Board again propose an increase of the dividend for 2019 to EUR 0.26 per share (2018: EUR 0.24)
Due to a delayed tax refund of nine million euros at the end of the year, the operating cash flow increased by only 15.0 million euros to 189.3 million euros - an increase of around 9%. This amount was received in March 2020, so that here too the guidance for 2019 was met.
The current equity ratio of 25.3% is also in line with the forecast, although it is temporarily burdened by the accounting of the Spanish PPAs under IAS 28; without these International Financial Reporting Standards (IFRS), the equity ratio would be 26.9%.
The current 2020 financial year will be particularly characterized by the transition to the PPA markets by the two major projects in Spain. Both of the projects are to be connected to the grid only in the second half of the year. The Management Board expects a moderate increase in revenues to more than EUR 280 million for the current 2020 financial year. The company plans to achieve operating earnings (EBITDA) of more than EUR 220 million and operating EBIT of around EUR 130 million. This would result in operating earnings per share (EPS) of 0.41 Euros. Even a delay in construction progress on the two major Spanish projects in the course of 2020 would at most have a negative effect on earnings per share (EPS) for 2020 of EUR 0.01. The operating cash flow is expected to exceed EUR 200 million.
We consequently follow our strategy >> Fast Forward 2025 despite the restrictions in our daily life due to CoVid-19. Even in these difficult times, we feel well positioned to achieve our long-term goals. For the current financial year, we are expecting moderate growth in revenues and earnings, which is in line with our original forecast before the Corona crisis. Nevertheless, the company is postponing the Annual General Meeting, which was previously scheduled for mid-May 2020, indefinitely in order to protect the health of our shareholders and employees and to slow down the chain of infection.
Encavis AG's environmental, social and governance performance was evaluated by ISS-oekom, one of the world's leading ESG research and rating agencies and received the ISS-oekom Prime label.
Further information on the company can be found at www.encavis.com
Head of Investor Relations & Public Relations
Große Elbstraße 59
Fon: + 49 40 37 85 62-242
Fax: + 49 40 37 85 62-129
|Große Elbstraße 59|
|Phone:||+49 4037 85 62 -0|
|Fax:||+49 4037 85 62 -129|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1002457|
|End of News||DGAP News Service|