HAMBURG (dpa-AFX) - Encavis intends to add more wind and solar parks to its portfolio in the coming years than previously planned. The company announced in Hamburg on Thursday that its generation capacity should reach 7 gigawatts by the end of 2027. The management had previously forecast 5.8 gigawatts. Encavis expects a decline in operating profit for the current year, mainly due to lower wholesale electricity prices in a challenging market environment, according to the statement.

The company presented its outlook and preliminary figures for the past year after the US financial investor KKR submitted a takeover bid for the Hamburg-based company this morning.

Encavis is aiming for a slight increase in turnover to 460 million euros in 2024. Of this, more than 300 million euros are to remain as adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). Last year, Encavis generated earnings of a good 449 million euros. The operating profit amounted to a good 319 million euros and was therefore around 9 percent below the previous year's figure./lew/tav/stk