Encavis increases revenue by five percent in the first nine months of 2020
Post date: 18/11/2020 - 08:47
In the first nine months of 2020, German solar and wind power plant operator Encavis AG achieved a year-on-year increase in sales of around five percent to €234.3 million ($277 million). The company had benefited from the continuously growing portfolio of generation capacities in wind and solar plants as well as from positive meteorological effects, such as the purchase of several wind farms in Denmark in 2019.
Earnings before interest, taxes, depreciation and amortization (operating EBITDA) of €181 million were €4.8 million lower than in the previous year. One reason for the absolute decline is the negative meteorological effect of minus €5.8 million.
In addition, the previous year's figure included a positive earnings contribution of around €5.9 million from the sale of minority interests in a wind farm portfolio, while the first nine months of 2020 only include the proceeds from the sale of a wind farm for €1.9 million.
Net income amounts to €26 million (9M 2019: €41 million).
The major »La Cabrera« project in Spain with a capacity of around 200 MW has been completed, and the »Talayuela« solar park (300 MW) will also be connected to the grid on schedule this year.
The Executive Board confirms the sales and earnings forecast for the current fiscal year 2020 and expects sales revenues to increase to over €280 million euros (2019: €273.8 million.