Capital Stage AG: Strong growth in first nine months of 2017

Capital Stage AG - Strong growth in first nine months of 2017

- Sales increase to EUR 180m (+67% yoy)
- EBIT reaches over EUR 90m (+64% yoy)
- Management very optimistic to reach guidance for full FY2017

Hamburg, 21 November 2017 - Hamburg-based SDAX-listed solar and wind park operator Capital Stage continued its dynamic growth also in the first nine months of 2017. According to preliminary operating results, the company was able to increase all key figures by more than 60 per cent compared to the same period of the previous year. The good earnings performance during the reporting period is attributable to the complete take-over of CHORUS Clean Energy AG (CHORUS), the acquisition of further solar and wind power parks and an increase in sun radiation compared to the same period of the previous year. The Management Board of Capital Stage AG is thus very optimistic to reach its earnings forecast for FY2017, which had last been upgraded in August 2017.

Based on preliminary operating results, Capital Stage AG increased its revenues by approx. 67% on the prior year to almost EUR 180 million (9M 2016: EUR 107.5m). The Group's earnings before interest, taxes, depreciation and amortisation (EBITDA) accordingly rose from EUR 85.6 million to EUR 142.1 million (+66%). Earnings before interest and taxes (EBIT) amounted to EUR 93.3 million (9M 2016: EUR 57.0m; +64%). Operating cash flow climbed to EUR 118.8 million Euro (9M 2016: EUR 69.8m; +70%). Also the equity ratio of Capital Stage AG increased to nearly 28% as of September 30, 2017 (Decemeber 31, 2016: 26%).

Positive outlook for the full year - Guidance for 2017 confirmed
Based on the very good earnings performance in the first nine months of 2017, the Management Board of Capital Stage AG is very optimistic to reach its earnings forecast for the full year 2017, which had last been upgraded in August 2017. The earnings forecast of Capital Stage is based on the portfolio of solar and wind parks as of 24 August 2017. The Management Board projects sales revenues in excess of EUR 215 million (+51% on previous year), operating EBITDA of more than EUR 160 million (+51% on previous year), EBIT of more than EUR 97 million (+56% on previous year) and operating cash flow of over EUR 150 million (+44% on previous year) for the fiscal year 2017. The forecast does not include further acquisitions of solar and wind parks and new mandates for the Asset Management segment after the record date.

Only recently, in early November 2017, the company announced a strategic partnership with the British project-developer Solarcentury. This cooperation gives Capital Stage AG access to an exclusive project pipeline with a generating capacity of 1.1 gigawatts (GW) and will give the company a significant growth impetus over the next three years. Moreover, the company will proceed with its business model based on the acquisition of solar- and wind parks; since the beginning of the year 2017  Capital Stage has acquired solar and wind parks with a generating capacity of more than 60 megawatts (MW) for its own portfolio; during the same period, the company's Asset Management segment had taken over further renewable energy assets with a generating capacity of some 140 MW.
 
The above KPIs only mirror the company's operating profitability and do not reflect any IFRS-related valuation effects. Capital Stage will publish its full consolidated financial statements in accordance with IFRS for the period from 1 January to 30 September 2017 on 30 November 2017. They can be found on the company's website at www.capitalstage.com.
 
About Capital Stage AG:
 
Capital Stage invests in and operates solar and wind parks in Europe and is one of the leading independent power producers (IPPs) in the fields of renewable energies. Including the solar and wind parks acquired and operated as part of the asset management business for third parties, the current portfolio has a total generating capacity of over 1.4 GW. With its solar and wind parks, the company generates attractive yields as well as continuous and predictable income.
 
The Capital Stage AG share is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg Stock Exchange (ISIN: DE0006095003 / WKN: 609500). Since 2014, the Capital Stage AG share has been included in the SDAX index of Deutsche Börse.
 
You can find further information on the company at www.capitalstage.com.

Contact:
Capital Stage AG
Till Gießmann
Head of Investor & Public Relations
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Capital Stage AG
Große Elbstraße 59
22767 Hamburg

Fon: + 49 40 37 85 62-242
Fax: + 49 40 37 85 62-129
e-mail: till.giessmann@capitalstage.com
http://www.capitalstage.com