Encavis increases revenue and earnings
Post date: 28/11/2019 - 09:23
In the first nine months of 2019, the Hamburg-based solar and wind power plant operator Encavis AG generated sales revenues of €223.4 million ($245 million), an increase of eleven percent compared to the same period of the previous year. The increase is attributable to »the continued favourable meteorological conditions as well as the expansion of the portfolio during the reporting period.« The solar parks contributed around €14.5 million and the wind parks around €5.9 million to this growth. As of September 30, 2019, the portfolio comprised 177 solar parks and 71 wind farms in ten European countries with a generation capacity of around two gigawatts.
Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by around 20 percent year-on-year to €185.8 million. In total, the consolidated operating result amounted to around €70 million (previous year: €54 million).
The Management Board confirmed the forecast for 2019 and expects revenue to rise to more than €270 million and operating EBITDA to rise to more than €218 million in the current financial year.