19.03.2018
ENCAVIS AG DE0006095003
DGAP-Adhoc: Encavis AG publishes preliminary operating results for FY2017 and Earnings Forecast for FY2018
DGAP-Ad-hoc: ENCAVIS AG / Key word(s): Final Results/Forecast
Encavis AG publishes preliminary operating results for FY2017 and Earnings
Forecast for FY2018
19-March-2018 / 12:09 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Encavis AG publishes preliminary operating results for FY2017 and earnings
forecast for FY2018
Hamburg, 19 March 2018 - The SDAX listed, Hamburg-based solar and wind farm
operator Encavis AG announces its preliminary operating business results for
2017. Accordingly, the company exceeded its own earnings forecasts for the
2017 financial year. These positive developments resulted primarily from the
acquisition of additional solar and wind parks, the first year of full
consolidation of the Encavis Asset Management AG (formerly CHORUS Clean
Energy AG), as well as very good meteorological conditions. The Management
Board of the Encavis AG expects the group's growth path to continue also in
2018.
Based on preliminary operating result, in the FY2017, the Encavis AG
generated sales revenue amounting to approximately EUR 222.4 million in 2017
(Encavis forecast for 2017: EUR 215 million; 2016 sales: EUR 141.8 million).
EBITDA (earnings before interest, taxes, depreciation and amortisation)
totalled EUR 166.8 million (Encavis forecast for 2017: EUR 160 million;
EBITDA 2016: EUR 106.1 million). EBIT (earnings before interest and taxes)
rose to around EUR 100.4 million (Encavis forecast for 2017: EUR 97 million;
EBIT 2016: EUR 61.6). Operating cash flow totalled over EUR 153.0 million
(Encavis forecast for 2017: EUR 150 million; operating cash flow 2016: EUR
103.8 million).
Based on the existing portfolio of solar and wind parks at March 16, 2018,
the Management Board of the Encavis AG expects total sales revenues to
exceed EUR 240 million for the 2018 financial year. Consequently, operating
EBITDA should rise to above EUR 175 million, operating EBIT to more than EUR
105 million. The Management Board expects cash flow from operating
activities to amount 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 estimate to reach EUR 0.30. In the
financial year 2017 Encavis has acquired further solar and wind parks with a
total generating capacity of some 100 MW that are scheduled for grid
connection end of 2018. Incorporating the first full year of operation of
these parks without any additional acquisitions would increase the EPS in
the finical year 2019 to EUR 0.35.
The earnings forecast for the financial year 2018 are based entirely on the
company's portfolio of solar and wind farms as it stands on 16 March 2018.
Additional acquisitions and new instructions in the asset management segment
that may come about over the course of the financial year have not been
taken into consideration.
The preliminary figures presented do refer only to the operational earning
capacity of Encavis AG; they do not take into account any IFRS-related
measurement effects.
The preliminary business figures for Encavis are subject to audit and
Supervisory Board approval. The final finance and earnings figures for the
2017 financial year will be published on 22 March 2018.
Contact:
Encavis AG
Till Gießmann
Head of Investor & Public Relations
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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
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19-March-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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 Announcement DGAP News Service
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665505 19-March-2018 CET/CEST
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