DGAP-News: ENCAVIS AG / Key word(s): Final Results/Forecast Encavis AG: Preliminary operating results for the 2017 financial year outperform own expectations 19.03.2018 / 12:12 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Encavis AG: Preliminary operating results for the 2017 financial year outperform own expectations Sales increase to more than EUR 220 million (+57% yoy) // EBIT increase to more than EUR 100 million (+63% yoy) // Equity ratio rises by 28% as of 31 December 2017 (31.12.2017: approx.. 26%) // Profitable growth continues in 2018 Hamburg, 19 March 2018 - The SDAX-listed Hamburg-based solar and wind park operator Encavis AG has today announced that, based on preliminary financial figures, it again achieved clear double-figure growth across all key financial figures for the 2017 financial year. The 2017 financial year therefore saw the company once again exceed its own earnings forecasts. These positive developments resulted primarily from the acquisition of additional solar and wind parks, from the first full consolidation of Encavis Asset Management AG (formerly CHORUS Clean Energy AG) as well as from the year's favourable meteorological conditions. The Management Board of Encavis AG expects the company to continue on its growth path also in 2018, and thus anticipates further increases in its key financial and earnings figures. A clear increase in performance for Encavis AG in the 2017 financial year In the 2017 financial year, Encavis AG achieved a sales increase of almost 57 per cent to around EUR 222.4 million (Encavis forecast for 2017: EUR 215m; 2016 sales: EUR 141.8m). Its operating earnings before interest, taxes, depreciation and amortization (operating EBITDA) also rose by some 57 per cent, reaching EUR 166.8 million (Encavis forecast for 2017: EUR 160m; operating EBITDA 2016: EUR 106.1m), and its operating EBIT (earnings before interest and taxes) grew to around EUR 100.4 million in the reporting period (Encavis forecast for 2017: EUR 97m; operating EBIT 2016: EUR 61.6m). Cash flow from operations, too, rose significantly in the 2017 financial year by more than 47 per cent on the previous year to over EUR 153 million (Encavis forecast for 2017: EUR 150m; Operating Cashflow 2016: EUR 103.8m). As such, Encavis AG once again exceeded its financial year forecasts. The company's equity ratio also increased further as of 31 December 2017, with preliminary calculations recording it at 28 per cent (31 December 2016: around 26%) based on total assets of more than 2.5 billion at December 31, 2017 (Dec., 31, 2016: EUR 2.4bn). "Also under our new name of "Encavis", we will succeed in continuing our company's profitable growth. Our excellent results for the year 2017 are a great success and an incentive at the same time for the whole team of Encavis", comments Dr Dierk Paskert, CEO of Encavis AG the result of the financial year 2017. "Over the course of 2017 we not only acquired additional further solar and wind parks with a total generation capacity of more than 150 MW. With first parks in Denmark and the Netherlands we managed the successful market entry into two very attractive markets", states Paskert. Moreover, 2017 marked the first year in which the company's subsidiary Encavis Asset Management AG (formerly CHORUS Clean Energy AG) was fully consolidated in the financial statements - another event that positively impacted the company's results. In 2017, the solar and wind parks of Encavis again contributed to a clean, safe and sustainable energy supply of tomorrow. The more than 2 Terawatt hours of green electricity produced by Encavis in 2017 is enough to cover the annual electricity needs of around one million households and to prevent the emission of 1.5 million tonnes of environmentally hazardous CO2. Continued profitable growth expected for Encavis AG in the current fiscal year 2018 The Management Board expects the company's growth path to continue in the course of the year 2108. "We will continue to make consistent use of the opportunities that arise in the market and will also further increase our organizational efficiency", states Dr. Christoph Husmann, CFO of Encavis AG. For the 2018 financial year, the Management Board expects sales of more than EUR 240 million. Operating EBITDA shall increase to more than EUR 175 million. The operating EBIT is to grow to more than EUR 105 million, and cash flow from operating activities will increase to more than EUR 163 million. Moreover, the 2018 financial year will mark the first time that Encavis AG will include earnings per share (EPS) as a financial figure in its guidance statement. For the financial year 2018 EPS is etstimate to reach EUR 0.30. The earnings forecast issued by Encavis for the 2018 financial year is based solely on the company's solar and wind park portfolio as of 16 March 2018 as well as the assumption of average meteorological conditions. As in previous years, the availability of solar and wind parks is again assumed to be more than 95 percent over the full year 2018. "Our very pleasing earnings forecast for the 2018 financial year is nonetheless based on conservative assumptions and therefore offers additional potential," comments Dr. Husmann. "Our earnings estimate for 2018 does not take into account further acquisitions of solar and wind parks over the course of the year or beyond; nor does it incorporate acquisitions of parks in 2017 with a generation capacity of around 100 MW, whose grid connection is scheduled for the end of 2018, Only by incorporating the first full year of operation of these parks, operating EPS would increase to 35 Eurocent in the financial year 2019", Husmann continues. "In addition, we anticipate average meteorological conditions in our forecast for the financial year 2018. In 2017, good meteorological conditions alone accounted for around 3 euro cents of the operating earnings per share." Information on the preliminary operational figures for 2017 The figures presented pertain only to the company's operational earnings power; they do not take into account any IFRS-related valuation effects. The preliminary business figures for Encavis are subject to the corresponding audit certificate and to approval by the Supervisory Board. The final finance and earnings figures for the 2017 financial year will be published on 22 March 2018. About the Encavis Group: Encavis AG is one of the leading independent power producers (IPPs) in the field of renewable energy in Europe. The company obtains and runs solar power plants and (onshore) wind farms in Germany and in eight other European countries. The total generation capacity of the Encavis Group is currently over 1.5 gigawatt (GW). With its wind farms and solar parks, the company generates attractive financial returns, as well as very stable income irrespective of economic conditions. Encavis AG also offers it's long-standing experience and market knowledge in the renewable energy segment to institutional investors. Within the Encavis Group, the Encavis Asset Management AG (formerly known as CHORUS Clean Energy AG) is specialized in the business with institutional clients. Furthermore, the Encavis Technical Services GmbH is the Encavis Group's service unit for the technical management of solar parks. Encavis AG is predecessor of the Capital Stage AG and the CHORUS Clean Energy AG. Encavis AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, on the regulated market of the Hamburg Stock Exchange (ISIN: DE0006095003/WKN: 609500) and on the SDAX of the German Stock Exchange. You can find more information on the company at www.encavis.com Contact: Encavis AG Till Gießmann Head of Investor & Public Relations ------------------------------------------------------------ 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.encavis.com Twitter: https://twitter.com/encavis --------------------------------------------------------------------------- 19.03.2018 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: ENCAVIS 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.encavis.com ISIN: DE0006095003, DE000A2GS625 WKN: 609500, A2GS62 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 --------------------------------------------------------------------------- 665541 19.03.2018