EQS-News: clearvise AG benefits from robust business model in first half of 2023
EQS-News: clearvise AG
/ Key word(s): Half Year Results
Corporate News clearvise AG benefits from robust business model in first half of 2023
Frankfurt, 12 September 2023 – clearvise AG (WKN A1EWXA / ISIN DE000A1EWXA4), an independent power producer from renewable energies with a diversified, European portfolio of wind and PV plants, today published its figures for the first half of 2023. According to these figures, clearvise generated consolidated revenues of EUR 23.4 million in the first half of 2023 (1H2022: EUR 26.5 million). This corresponds to a decline of around 12% compared to the same period of the previous year. The main reason for this was a stabilisation of electricity prices at a noticeably lower, but still elevated level compared to the exorbitantly high electricity prices in the prior-year period. In Germany in particular, electricity prices and thus also the average net prices achieved in clearvise’s portfolio decreased significantly. Adjusted EBITDA amounted to EUR 16.8 million in the first half of 2023, a decrease of 18.4% compared with the same prior-year period (1H2022: EUR 20.6 million). Accordingly, the EBITDA margin reached 71.9% (1H2022: 78.0%), so this remained at a high level. Total production increased by 12.1% compared to the same prior-year period to 276.7 GWh (1H2022: 246.9 GWh) for clearvise. Overall, clearvise successfully continued its activities in the context of the clearSCALE 2025 growth initiative despite challenging framework conditions. Manuel Sieth, CFO of clearvise AG, explains: “In the first half of 2023, clearvise was confronted with a challenging market environment characterized by a number of factors, such as unchanged high inflation and falling prices on the electricity markets. Despite these adverse circumstances, we succeeded in maintaining our sales as well as earnings at a high level even with overall lower energy prices. We expect the energy market to remain difficult in the second half of the year and beyond. However, as an independent electricity provider with a robust business model, we continue to believe that clearvise is well positioned to benefit from the opportunities presented by the energy transition.” The operating generation portfolio of clearvise totaled around 304 MW as of the reporting date of 30 June 2023. For fiscal year 2023, the Executive Board continues to assume that production will be within the range of 513 GWh to 555 GWh stated in the Annual Report 2022. The same applies to both consolidated revenues in the range of EUR 42 million to EUR 45 million and adjusted consolidated EBITDA in the range of EUR 26 million to EUR 29 million. This forecast is based on the assumption that the Finnish wind farms will no longer contribute to the forecast figures from 1 October 2023. On 17 July 2023, clearvise had concluded a purchase agreement for the Finnish wind farms. clearvise AG is an independent renewable energy power producer with a diversified European asset portfolio of wind and solar farms and a biogas plant. Based on a three-pillar acquisition strategy, the company focuses on profitably expanding its portfolio of European wind onshore and PV assets and creates value for all stakeholders with its individual models clearSWITCH, clearPARTNERS and clearVALUE. The clearvise AG share (WKN A1EWXA / ISIN DE000A1EWXA4) has been listed since 2011 and is currently traded on the OTC markets of various German stock exchanges as well as via XETRA. cometis AG
12.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | clearvise AG |
Unter den Eichen 7 | |
65195 Wiesbaden | |
Germany | |
Phone: | +49 (0)611 26 765 0 |
Fax: | +49 (0)611 26 765 599 |
E-mail: | [email protected] |
Internet: | www.clearvise.com |
ISIN: | DE000A1EWXA4 |
WKN: | A1EWXA |
Listed: | Regulated Unofficial Market in Dusseldorf, Hamburg, Munich |
EQS News ID: | 1723503 |
End of News | EQS News Service |
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1723503 12.09.2023 CET/CEST