Encavis aims 2021 to increase sales by ten percent
Post date: 24/03/2021 - 10:47
Hamburg-based solar and wind power plant operator Encavis AG reports revenue growth of €18.5 million to €292.3 million ($347 million) in 2020, up from €273.8 million in the previous year. As of December 31, 2020's solar portfolio included a total of 166 solar parks with a total installed capacity of over 1.3 GW. The plants are located in Germany, Italy, France, the United Kingdom, the Netherlands and Spain. The solar parks generated 67 percent of revenues last year. However, their revenues were €1.6 million below the previous year, which, according to the company, had been »characterized by particularly favorable meteorological conditions«. The amount of electricity fed into the grid from the group's own solar parks amounted to just under 1.05 GWh in fiscal 2020 (previous year: 0.9 GWh). Of the electricity fed into the grid, 27 percent was generated by solar parks in Germany (previous year: 29 percent), followed by France, Italy, the United Kingdom, the Netherlands and, for the first time, Spain (6 percent).
Operating earnings before interest, taxes, depreciation and amortization (EBITDA) increased by around three percent year-on-year to €224.8 million (2019: €217.6 million). This increase was based on the expansion of the portfolio and income from the sale of minority interests in three wind farms in Austria. Consolidated net income was €62.5 million ($74.3 million), compared with minus €44.4 million in the previous year.
Partly due to the first full-year contribution to sales and earnings from the two large-scale Spanish solar projects, the Management Board expects sales to increase by almost ten percent to more than €320 million in the current fiscal year 2021. »To implement our growth targets, we are focusing on industrial customers with long-term power purchase agreements,« said Encavis CEO Dierk Paskert. A separate department will be available for this purpose starting this year.
Encavis operates solar parks and wind farms in ten European countries. The total generation capacity is currently around 2.8 GW.