HAMBURG (dpa-AFX) - The wind and solar park operator Encavis, which is about to be taken over, did significantly less business in the first quarter. Turnover fell by 12 percent to 86.6 million euros compared to the same quarter last year, as the company announced in Hamburg on Friday on the basis of preliminary figures. Adjusted for special effects, earnings before interest and taxes fell by almost half to 18.2 million euros. Encavis said that the figures were roughly in line with the forecast. The management confirmed its forecast for the year. The MDax-listed shares barely reacted in the morning. They were last quoted at 16.91 euros.

A year earlier, Encavis had benefited from a one-off effect from additional remuneration in the Netherlands. In addition, the weather was better in the first quarter of the previous year and electricity prices were higher. All in all, the Hamburg-based company slipped into the red in the first three months. This resulted in a loss of 4 euro cents per share, compared to a profit of 9 cents a year earlier.

Encavis is about to be taken over by the US financial investor KKR. The consortium led by KKR also includes the family-owned company Viessmann. The investors are offering shareholders 17.50 euros per share./men/mis