DGAP-News: ENCAVIS AG again above plan after nine months / Guidance confirmed for FY 2019
DGAP-News: ENCAVIS AG
/ Key word(s): Quarterly / Interim Statement/9 Month figures
Corporate News ENCAVIS again above plan after nine months Revenue increases by 11% to EUR 223.4 million (9M/2018 EUR 200.9 million) Operating EBITDA increases by 20% to EUR 185.8 million (9M/2018 EUR 155.3 million) Operating EBIT rises by 21% to EUR 121.8 million (9M/2018 EUR 100.8 million) Operating earnings per share increases by 29% to EUR 0.49 (9M/2018 EUR 0.38) Management Board confirms the updated guidance from end of August this year for the full year 2019
After nine months of 2019, Encavis AG exceeded the targets set for its operating figures. Revenue increased by around 11% to a total of EUR 223.4 million. The increase is attributable both to favourable meteorological conditions and to the expansion of the portfolio during the reporting period. The solar parks contributed around EUR 14.5 million and the wind parks around EUR 5.9 million to this growth. As of September 30, 2019, the portfolio comprised 177 solar parks and 71 wind farms in ten European countries with a generation capacity of around two gigawatts (GW). Thereby ENCAVIS is the largest independent listed power producer (IPP) in the renewable energy sector in Europe. Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by around 20% year-on-year to EUR 185.8 million. The EBITDA margin was around 83% (previous year: 77%). The increase in EBITDA benefited from the positive meteorological conditions, the expansion of the portfolio and the proceeds from the sale of minority interests in four wind farms, while at the same time other operating expenses declined, mainly due to the first-time application of IFRS 16. Due to the first-time application of IFRS 16, depreciation also includes depreciation on capitalized rights of use from leasing agreements. The operating result from operating activities (EBIT) reached EUR 121.8 million - an increase of 21% compared to the previous year. This corresponds to an EBIT margin of around 55% (previous year: 50%). Operating earnings per share (EPS) increased by around 29% to EUR 0.49 (previous year: EUR 0.38). Due to the continued positive meteorological conditions after nine months of the current fiscal year, too, the Management Board confirms the updated guidance for the full year 2019, which was again lifted upwards at the end of August. For the current financial year, revenue are expected to rise to more than EUR 270 million and operating EBITDA to increase to more than EUR 218 million. At Group level, operating EBIT is expected to increase to more than EUR 132 million. The operating cash flow is expected to reach a value of more than EUR 198 million. As a result, the forecast for operating earnings per share (EPS) should be at EUR 0.42.
About Encavis AG: Further information on the company can be found at www.encavis.com Contact: Encavis AG Jörg Peters Head of Investor Relations & 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
25.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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 |
WKN: | 609500 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 920337 |
End of News | DGAP News Service |
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920337 25.11.2019
Encavis AG Aktie
Die Community unterstützt Encavis AG leicht, mit mehr Buy- als Sell-Einschätzungen.
Obwohl das Kursziel von 15 € unter dem aktuellen Kurs von 17.02 € für Encavis AG liegt, zeigt sich ein negatives Potenzial von -11.87%.