Encavis AG raises annual forecast

The Executive Board of Encavis AG, the Hamburg-based solar and wind farm operator, has raised the outlook for all operating revenue and earnings figures for the 2019 financial year. The company expects to increase sales to around €270 million (previously €260 million). The operating result (EBITDA) will be around €218 million (previously €210 million) and the operating EBIT €132 million (previously €125 million).
Encavis achieved an increase in sales of 17 percent to a total of €143.9 million ($159 million) in the first half of the year. The solar parks contributed around €14.5 million and the wind parks around €5.3 million to this growth. As of June 30, 2019, the portfolio comprised 175 solar parks and 69 wind farms in ten European countries with a generation capacity of around two gigawatt.
Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by around 29 percent year-on-year to €120.8 million. The operating result from operating activities (EBIT) reached €78.2 million - an increase of 35 percent compared to the previous year. The financial result fell from €-24 million in the first half of 2018 to €-26 million.

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