DGAP-Ad-hoc: Energiekontor AG / Key word(s): Profit Warning/Change in Forecast
Energiekontor AG: Weather-related construction delays lead to profit postponement

18-Dec-2019 / 15:09 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.

When implementing a wind farm project, postponements are part of day-to-day business. The windy fourth quarter is particularly susceptible to this.

The wind farm Waldfeucht, located in North Rhine-Westphalia west of Heinsberg not far from the Dutch border, is currently under construction. Originally, the three Nordex wind turbines, each with an output of 4.5 MW per year and an expected yield of around 35 million kilowatt hours, were expected to be commissioned in December 2019. In recent weeks, high wind speeds with strong gusts have ensured that work at the site could not be carried out as planned and that delays occurred as a result. Despite countermeasures such as the request for additional erection cranes and the introduction of a three-shift operation, the prospects for completion by the end of the year have become even gloomier. For the next few days, difficult wind conditions are expected at the Waldfeucht site, which will lead to further delays.

From today's perspective, the wind farm is therefore not expected to be fully commissioned until January 2020. The earnings contribution planned for 2019 will thus be postponed until the first quarter of 2020.

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