Encavis : raises dividend proposal and confirms preliminary operating results for the 2017 financial year

Encavis AG raises dividend proposal and confirms preliminary operating results for the 2017 financial year

Hamburg, 22 March 2018 - The SDAX-listed Hamburg-based solar and wind park operator Encavis AG confirms the preliminary financial figures for the 2017 financial year as published on 19 March 2018 and will propose a dividend amounting to EUR 0.22 (2016: EUR 0.20). This is the sixth time in a row that Encavis has increased its dividend. Once again, the dividend shall be offered as scrip dividend that leaves it to the shareholders whether to receive the dividend in shares or in cash. For the current financial year 2018, the Management Board expects the Encavis AG to proceed on its path of profitable growth. 

"We want to allow our shareholders to participate in the extremely successful development of Encavis AG too. In line with our dividend policy, which we set by the end of 2017 on the basis of our solar and wind park portfolio, we will once again increase the dividend this year. Accordingly, we propose the Annual General Meeting to approve the distribution of a dividend of 22 cents per no par value share with dividend rights for the past financial year 2017", says Dr Dierk Paskert, CEO of Encavis AG.

On the basis of the company's solar and wind park portfolio as of 16 March 2018 as well as the assumption of average meteorological conditions, the Management Board expects the company's positive development to continue in the course of the year 2108.  For the 2018 financial year, the Management Board expects sales of more than EUR 240 million. Furthermore, the operating EBITDA shall increase to more than EUR 175 million. The operating EBIT is to grow to more than EUR 105 million, and cash flow from operating activities will increase to more than EUR 163 million. Moreover, the 2018 financial year will mark the first time that Encavis AG will include earnings per share (EPS) as a financial figure in its guidance statement. For the financial year 2018 EPS is etstimate to reach EUR 0.30. Over the course of the year 2017 there were parks acquired with a generation capacity of around 100 MW, whose grid connection is scheduled for the end of 2018. Only by incorporating the first full year of operation of these parks, operating EPS would increase to 35 Eurocent in the financial year 2019.

The annual financial statements and the consolidated annual financial statements are available on the Encavis-homepage (www.encavis.com) at the Investor Relations-Section.

About the Encavis Group
Encavis AG is one of the leading independent power producers (IPPs) in the field of renewable energy in Europe. The company obtains and runs solar power plants and (onshore) wind farms in Germany and in eight other European countries. The total generation capacity of the Encavis Group is currently over 1.5 gigawatt (GW). With its wind farms and solar parks, the company generates attractive financial returns, as well as very stable income irrespective of economic conditions.

Encavis AG also offers it's long-standing experience and market knowledge in the renewable energy segment to institutional investors. Within the Encavis Group, the Encavis Asset Management AG (formerly known as CHORUS Clean Energy AG) is specialized in the business with institutional clients. Furthermore, the Encavis Technical Services GmbH is the Encavis Group's service unit for the technical management of solar parks.

Encavis AG is predecessor of the Capital Stage AG and the CHORUS Clean Energy AG. Encavis AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, on the regulated market of the Hamburg Stock Exchange (ISIN: DE0006095003/WKN: 609500) and on the SDAX of the German Stock Exchange.

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

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