31.08.2018
Energiekontor AG DE0005313506
DGAP-News: Energiekontor AG's half-year results are in line with the previous year
DGAP-News: Energiekontor AG / Key word(s): Half Year Results
Energiekontor AG's half-year results are in line with the previous year
31.08.2018 / 08:00
The issuer is solely responsible for the content of this announcement.
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Bremen-based project developer's performance as planned in the first half of
2018
Energiekontor AG's half-year results are in line with the previous year
Bremen, 31 August 2018. Bremen-based Energiekontor AG has closed the first
half of 2018 with revenue of EUR 32.9 million at group level (prev. year EUR
41.4 million) and total output of EUR 58.7 million (prev. year EUR 82.4
million). At EUR 12.4 million, group EBIT was just below the previous year's
level (EUR 13.2 million), with income from ordinary activities (EBT) even
slightly exceeding the previous year at EUR 4.7 million compared to EUR 4.4
million in 2017. Earnings per share in the first half of 2018 amounted to
EUR 0.23 (prev. year EUR 0.22).
The positive result is primarily attributable to the contribution from
"Power Generation in Group-owned Wind Farms and Solar Parks". To date, the
wind year has been good across all countries with group-owned facilities and
the additional contribution made by the three wind farms and one solar park
that was added to the group-owned portfolio brought increased revenues in
this segment vis-à-vis the previous year. The Operation Development,
Innovation and Others segment also showed a slight increase in revenues.
Peter Szabo, CEO of Energiekontor AG, remarks: "The result in the first half
of the year is in line with our expectations. As business has so far
developed according to plan, the outlook for the year as a whole has not
changed at this point in time. Due to the political situation, characterized
by the auctioning system in Germany and declining subsidy measures in all
target markets, we continue to expect 2018 will be a transition year
compared to previous years".
"However," he adds, "our success in the UK, for example, with the
construction of the first subsidy-free wind farm, Withernwick II, and the
permission to build the first major onshore-wind project in Scotland, as
well as the fact that we were awarded a further solar project in Bavaria,
show that the measures that we adopted at an early stage to increase
efficiency and to diversify our portfolio are gradually bearing fruit. Our
many years of experience in concluding power purchase agreements is
particularly valuable in this respect. These long-term PPAs with large
industry customers will also play an increasingly important role in Germany
in the future. In the US, Energiekontor is also working with its own local
team to conclude PPAs for the sites that have been secured for the
construction of large-scale solar parks. In addition to the office in
Austin/Texas, an office was opened in Rapid City/South Dakota, which will be
used to drive forward the development of wind farms. Negotiations on
securing sites for the development of wind farms and solar parks are also
proceeding in France. Further measures for the gradual implementation of our
project pipeline of around three gigawatts are either in preparation or
about to be completed. We therefore expect the growth process initiated in
recent years to continue from 2019 financial year onwards."
As a pioneer in the industry, Energiekontor AG's vision of covering 100
percent of energy needs with renewable energies is the most important aspect
of its mission statement. The company intends to make an important
contribution to this by realizing wind farms and solar parks at a levelized
cost of electricity that is below the costs of conventionally operated power
plants.
The complete half-year report for 2018 is available online at
https://www.energiekontor.de/en/investor-relations/financial-reports.html.
About Energiekontor AG:
For the last 25 years, Energiekontor has stood for a sound approach to
business and a wealth of experience in wind power. Formed in Bremerhaven in
1990, the company was one of the pioneers in the industry and is now one of
the leading German project developers. Its core business covers planning,
construction and operational management of wind farms in Germany and abroad,
and was expanded to include solar power in 2010. Energiekontor also
currently owns and operates 34 wind farms and one solar park with total
rated power of around 270 megawatts. Energiekontor AG now also intends to be
a pioneer when it comes to economic viability in realising the first wind
farms and solar parks at market prices without state subsidies in all target
markets as quickly as possible.
In addition to its headquarters in Bremen, Energiekontor also maintains
offices in Bremerhaven, Hagen im Bremischen, Aachen, Dortmund, Bernau (near
Berlin) and Potsdam. The company also has branch offices in England (Leeds),
Scotland (Glasgow), Portugal (Lisbon), the Netherlands (Nijmegen), the US
(Austin/Texas and Rapid City/South Dakota) and France (Toulouse). The
formation of an additional office in France is currently in the making.
Our track record speaks for itself: We have realised 118 wind farms with
total rated power of around 940 megawatts and three solar parks with total
rated power of about 30 megawatts. This corresponds to an investment volume
of more than EUR 1.6 billion.
Energiekontor went public on 25 May 2000. The shares of Energiekontor AG
(WKN 531350/ISIN DE0005313506) are listed in the General Standard segment of
the Frankfurt Stock Exchange and can be traded on all German stock
exchanges.
Contact:
Investor Relations/Press
Dr. Stefan Eckhoff
Phone: (+49-421) 3304-0
Email: [email protected]
Energiekontor AG / Reuters: EKT / ISIN: DE0005313506
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31.08.2018 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.
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Language: English
Company: Energiekontor AG
Mary-Somerville-Straße 5
28359 Bremen
Germany
Phone: 04 21/33 04-0
Fax: 04 21/33 04-4 44
E-mail: [email protected]
Internet: www.energiekontor.de
ISIN: DE0005313506
WKN: 531350
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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