DGAP-News: ENCAVIS AG / Key word(s): Interim Report/Half Year Results
ENCAVIS shows significant earnings increase in first-half 2022 and raises outlook for the full-year 2022
The Group increased electricity production from Renewable Energy by +17% to around 1,694 gigawatt hours (GWh/previous year: 1,443 GWh) during the first six months of fiscal year 2022. Revenue grew by 40% to EUR 226.4 million (previous year: EUR 162.2 million). This strong growth of more than EUR 64 million has to be split to a good two thirds of to the Group’s portfolio to solar parks (a good +43 mln euro) and almost to one third (around +21 mln euro) of wind farms. Revenue increase of the solar parks was mainly driven by the 22% higher electricity production due to capacity increases and the improved weather conditions. Revenue growth of the wind farm portfolio by around 58% is based on the 8% increased production volume of electricity and to the larger extend on the significantly higher electricity prices in H1 2022 compared to H1 2021.
Operating earnings before interest, taxes, depreciation and amortisation (operating EBITDA) also increased by 40% to EUR 170.6 million (previous year: EUR 122.3 million) in the first six months of the 2021 financial year. Resulting in an increase of operating earnings before interest and taxes (operating EBIT) of 60% to EUR 109.8 million (previous year: EUR 68.7 million) after six months. Considering the high level of prices for electricity the Group invests into a comprehensive technical optimisation to increase the productivity of its PV asset portfolio. These investments may causes expenses that result in earnings figures which doesn’t reflect the additional revenue completely.
This ultimately resulted in significantly improved operating earnings per share (EPS) of EUR 0.33 in the first-half of 2022, an increase of 83% compared to the EUR 0.18 operating earnings per share in the same period in 2021.
The cash flow from operating activities increased by around 46% to EUR 160.2 million (previous year: EUR 109.4 million).
An increase in sales by 26% to > EUR 420 million (previous year EUR 333 million),
an increase in operating EBITDA by 21% to > EUR 310 million (previous year EUR 256 million),
an increase in operating EBIT by 24% to > EUR 185 million (previous year EUR 149 million),
an increase in operating Earnings Per Share (EPS) by 15% to EUR 0.55 (previous year EUR 0.51) and
an increase in operating cash flow by 11% to > EUR 280 million (previous year EUR 252 million).
Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with "A" and ISS ESG with their "Prime" label.
Additional information can be found on www.encavis.com
|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:||1420049|
|End of News||DGAP News Service|