Capital Stage AG / Key word(s): 9-month figures/9-month figures 21.11.2016 11:34 Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Hamburg, 21 November 2016 - The SDAX-listed Hamburg-based solar and wind park operator Capital Stage continued to grow in the first nine months of 2016 in spite of the below-average wind levels compared to previous years. Thus, after the successful first half-year, the company remains on track to achieve its operating goals for the 2016 financial year. Against the background of the completed takeover of CHORUS Clean Energy AG, Capital Stage furthermore published an adjusted forecast for the operating result of the financial year 2016, which for the first time also comprises the expected result of CHORUS for the fourth quarter of 2016. In the first nine months of 2016, Capital Stage increased its revenues by approx. 14 percent to EUR 107.5 million compared to the same period of the previous year (9M 2015: EUR 94.4 million). Consolidated operating earnings before interest, taxes, depreciation and amortisation (EBITDA) rose from EUR 76.3 million to EUR 85.6 million (+12%). Operating earnings before interest and taxes (EBIT) came in at EUR 57.0 million (9M 2015: EUR 53.5 million; +7%). Operating cash flow for the period amounted to EUR 69.8 million (9M 2015: EUR 53.7 million; +30%). Adjusted guidance for 2016 including result of CHORUS Following the takeover of more than 94 percent of the shares in CHORUS Clean Energy AG in October 2016, the latter will be fully consolidated in the consolidated financial statements of Capital Stage going forward. It will be fully consolidated for the first time in the fourth quarter of 2016, which in the field of renewable energies in general only has a minor contribution to revenues and earnings. Against this background, Capital Stage has adjusted its forecast for the operating result of the financial year 2016. According to this forecast, the Management Board of Capital Stage AG expects revenues to increase to over EUR 140 million in the financial year 2016. Operating earnings before interest, taxes, depreciation and amortisation (operating EBITDA) are expected to rise to more than EUR 104 million. Forecast operating earnings before interest and taxes (operating EBIT) increase to over EUR 60 million. Operating cash flow is expected to exceed EUR 98 million. The indicated forecast values have been adjusted for one-off expenses in connection with the takeover of CHORUS by Capital Stage AG in the amount of approximately EUR 6 million in the operating performance indicators (EBITDA; EBIT) as well as in the amount of approximately EUR 8 million in the operating cash flow. The above KPIs only mirror the company's operating profitability and do not reflect any IFRS-related valuation effects. Capital Stage will publish its full consolidated financial statements according to IFRS for the period from 1 January to 30 September 2016 on 30 November 2016. It will be available on the company's website at www.capitalstage.com. About Capital Stage AG: Since 2009, Capital Stage invests and operates solar power plants and wind parks in Germany, Austria, France, Finland, UK, Italy, and Sweden. Including the solar and wind parks acquired and operated in the context of the asset management activities for third parties, the company's generation capacity amounts to over 1 GW, making it one of the leading solar and wind park operators in Europe. The solar and wind parks generate attractive returns as well as steady and predictable income. Capital Stage AG is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange and in the regulated market of the Hanseatic Stock Exchange Hamburg (ISIN: DE0006095003 / WKN: 609500). Since 2014, Capital Stage AG is listed in the Deutsche Börse selective index SDAX. For more information, visit www.capitalstage.com Contact: Capital Stage AG Till Gießmann Head of Investor & Public Relations Fon.: + 49 (0)40 37 85 62-242 Fax: + 49 (0)40 37 85 62-129 e-mail: [email protected] 21.11.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Capital Stage AG Große Elbstraße 59 22767 Hamburg Germany Phone: +49 4037 85 62 -0 Fax: +49 4037 85 62 -129 E-mail: [email protected] Internet: www.capitalstage.com ISIN: DE0006095003 WKN: 609500 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------