DGAP-Adhoc: Encavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019

2019. május 28., kedd, 16:29





DGAP-Ad-hoc: ENCAVIS AG / Key word(s): Forecast/Strategic Company Decision


Encavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019


28-May-2019 / 16:29 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.







Ad-hoc-Release:

Disclosure of an inside information acc. to Article 17 MAR



Encavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019


Hamburg, May 28, 2019 - SDAX-listed Encavis AG (ISIN: DE0006095003, Prime Standard) today sold 49 percent of the shares in each of the four German wind parks Briest, Breitendeich, Debtstedt and Lunestedt to a special fund managed by an institutional customer in Luxembourg.



Subject to the upcoming antitrust investigation, Encavis AG will receive 24 million euros in cash. The sale price achieved confirms the balance sheet values of the existing portfolio according to IFRS and leads to a significant profit under the German Commercial Code. Against this background and taking into account the very positive operating development of the Group, the Management Board of Encavis AG raises its guidance for sales to > EUR 260 million (previously > EUR 255 million), EBITDA to > EUR 210 million (previously > EUR 190 million), EBIT to > EUR 125 million (previously > EUR 114 million), operating cash flow to > 190 million EUR (previously > 188 million EUR) and the operating earnings per share (EPS) for the full year 2019 from 0.35 EUR to 0.40 EUR.



 



About Encavis:

Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable sources listed in the SDAX of Deutsche Börse. As one of the leading Independent Power Producers (IPPs), Encavis acquires and operates solar power plants and (onshore) wind farms throughout Europe. The plants for sustainable energy generation generate stable returns through guaranteed feed-in tariffs or long-term purchase agreements (PPAs). Within the Encavis Group, Encavis Asset Management AG specialises in the area of institutional investors. Encavis Technical Services GmbH is the Group"s own service unit for the technical management of solar parks.



Further information on the company can be found at www.encavis.com

 



Contact:



Encavis AG



Jörg Peters

Head of Investor Relations & Public Relations


Tel.: + 49 40 37 85 62-242

E-Mail: joerg.peters@encavis.com











28-May-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de





























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: info@encavis.com
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: 816763





 
End of Announcement DGAP News Service




816763  28-May-2019 CET/CEST







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