DGAP-News: Capital Stage AG / Key word(s): Final Results Capital Stage AG confirms preliminary operating results for 2016 and increases dividend 03.04.2017 / 14:05 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- CORPORATE NEWS Capital Stage AG confirms preliminary operating results for 2016 and increases dividend - Operating results exceed own forecasts for 2016 - Dividend increased to EUR 0.20 - Dividend policy provides an increase by 50 per cent within the next five years - Further growth continues in 2017 Hamburg, 3 April 2017 - The SDAX-listed Hamburg-based solar and wind park operator Capital Stage confirms its already published preliminary results for the 2016 financial year. In spite of the relatively low wind levels, Capital Stage managed to exceed its own forecast for the operating results for the fiscal year 2016. For the recent financial year a scrip dividend amounting to EUR 0.20 (2015: EUR 0.18) per entitled share shall be paid out. Continuous increases of the dividends are planned for the coming years, so that the dividend paid per no par value share with dividend rights would be increased by 50 per cent within the next five years (EUR 0.30). Compared to the previous year, revenue for Capital Stage AG increased by more than 25 per cent to approximately EUR 141.8 million. Operating earnings before interest, tax, depreciation and amortisation (operating EBITDA) came to some EUR 106.1 million - a rise of 22 per cent. Operating earnings before interest and tax (operating EBIT) also grew by 11 per cent during the reporting period, now totalling some EUR 61.6 million. Cash flow from operating activities even rose by 39 per cent to more than EUR 103.8 million. The operating earnings figures thus exceeded the forecast figures for the 2016 financial year. According to preliminary calculations, the equity ratio increased to 25.9 per cent compared to the reporting date of the previous year, and total assets amounted to approximately EUR 2.4 billion. These figures must also be viewed in consideration of the fact that, for the first time, the operating figures for the 2016 financial year include the earnings contributions of CHORUS Clean Energy for the fourth quarter of 2016. Dividend increased to EUR 0.20 - further increase of dividends announced Subject to the approval of the Annual General Meeting, Capital Stage AG intends to pay a scrip dividend for the 2016 financial year of EUR 0.20 per no par value share with dividend rights (2015: EUR 0.18). Furthermore the dividend shall be increased continously for the next five years. "Also in the current financial year 2017 we will proceed on our path of growth. We also want to share our success with our shareholders. Over the coming years, we plan to continuously increase our dividend resulting in a dividend increased by 50 per cent to be paid per no par value share with dividend rights in five years amounting to 30 Cent. This is only on the basis of the current portfolio," says Dr Christoph Husmann, CFO of Capital Stage AG. The dividend strategy thus reflects the increase in cash flows from the solar and wind parks. Their interest expense is reduced continuously over the years according to a fixed redemption plan and leads to a corresponding steady increase in earnings. "In addition to that, further acquisitions of solar and wind parks can and will positively contribute to the dividend potential", adds Dr Husmann. Positive outlook for the 2017 financial year confirmed Based on the portfolio of solar and wind parks as of the reporting date of 31 December 2016, the Management Board expects the positive development to continue in the current financial year. For 2017, the Company expects revenue to go up to over EUR 200 million. Operating EBITDA should increase to more than EUR 150 million as a result. The Management Board expects operating EBIT for 2017 to be in excess of EUR 90 million. Cash flow from operating activities should also go up significantly once again to more than EUR 140 million. Note on the operating figures for 2016 The figures provided are based solely on the Company's operating profitability and do not take any IFRS-related valuation effects into account. In addition, the operating earnings figures (operating EBITDA and EBIT) have been adjusted for non-recurring expenses of EUR 4.6 million in connection with the takeover of CHORUS. In cash flow from operating activities, the adjustment came to some EUR 8.5 million. The Annual Report 2016 has been available for download on the Company website www.capitalstage.com since 31 March 2017. About Capital Stage AG: Since 2009, Capital Stage has been investing in and operating solar and wind parks, now with installations in Germany, France, Finland, the United Kingdom, Italy, Austria and Sweden. Including solar and wind parks acquired and operated as part of the asset management business for third parties, the company's generation capacity totals more than 1.2 gigawatts. This makes Capital Stage one of Europe's leading independent solar and wind park operators. With its solar and wind parks, the company generates attractive yields as well as continuous and predictable income. The Capital Stage AG share is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg stock exchange (ISIN: DE0006095003/WKN: 609500). Since 2014, the Capital Stage AG share has been included in the SDAX index of Deutsche Börse. You can find further information on the company at www.capitalstage.com. Contact: Head of Investor & Public Relations ------------------------------------------------------------ Capital Stage AG Große Elbstraße 59 22767 Hamburg Fon: + 49 40 37 85 62-242 Fax: + 49 40 37 85 62-129 e-mail: [email protected] http://www.capitalstage.com --------------------------------------------------------------------------- 03.04.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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 News DGAP News Service --------------------------------------------------------------------------- 561221 03.04.2017