Encavis AG again raises dividend proposal and confirms preliminary operating results for the 2018 financial year


Encavis AG again raises dividend proposal and confirms preliminary operating results for the 2018 financial year

Hamburg, 22 March 2019 - SDAX-listed Hamburg-based solar and wind park operator Encavis AG has confirmed the preliminary financial figures for the 2018 financial year published on 18 March 2019. A dividend of EUR 0.24 (2017: EUR 0.22) will be proposed to the shareholders. This is the seventh time in a row that Encavis has increased its dividend. The Management Board expects the company"s profitable growth to continue in the current financial year 2019.

"Encavis AG was able to achieve an excellent result in the past financial year. We are therefore happy to again propose an increased dividend of EUR 0.24 (2017: EUR 0.22) per no par value share with dividend rights to the Annual General Meeting for the past financial year 2018," says Dr Husmann, CFO of Encavis AG. The dividend will again be offered as a scrip dividend that leaves it to the shareholders whether to receive the dividend in shares or in cash. "By increasing the dividend to EUR 0.24, we remain well on track with our strategy to raise our dividend by 50 percent to a nominal EUR 0.30 by the year 2021 compared to the reference year 2016," Husmann added.

On the basis of the company"s secured solar and wind park portfolio as of mid-March 2019 and based on the assumption of average meteorological conditions, the Management Board expects the company"s profitable growth to continue in the 2019 financial year. The Board therefore projects sales revenues in excess of EUR 255 million, with EBITDA and EBIT expected to rise to over EUR 190 million and EUR 112 million, respectively. Operating cash flow is expected to come in at over EUR 180 million. Earnings per share are estimated to reach EUR 0.35 in the 2019 financial year.