EQS-News: ENCAVIS AG significantly exceeds all KPIs of the guidance for fiscal year 2022 with its prelim. unaudited results / Revenue and oper. EBITDA already exceed the targets of the growth strategy FF 2025

Encavis AG significantly exceeds all KPIs of the guidance for fiscal year 2022 with its preliminary, unaudited results / Revenue and operating EBITDA already exceed the targets of the growth strategy ‘>> Fast Forward 2025’

Hamburg, 14 February 2023 – Hamburg-based wind and solar park operator Encavis AG (Prime Standard; ISIN: DE0006095003; stock symbol: ECV), listed on the MDAX of Deutsche Börse AG achieved significantly higher revenues and results in the 2022 financial year on the basis of preliminary, yet unaudited Key Performance Indicators (KPIs), that are significantly above the results of the previous year and above the guidance for 2022, and already exceed the targets of the ‘>> Fast Forward 2025’ growth strategy in terms of revenue and operating EBITDA. Given the very high share of price-fixed revenue from Renewable Energy generation, Encavis benefited only to a limited extent from the high peaks in the electricity market, but this effect is nevertheless clearly visible.

The Group increased electricity production from Renewable Energy in Encavis AG's own portfolio by almost 14% to around 3,133 gigawatt hours (GWh) in the 2022 financial year (previous year: 2,754 GWh). Encavis AG's reported revenue for the 2022 financial year amount to around EUR 480 million, which still includes sales of around EUR 25 million that will be skimmed off because of the Europe-wide implemented price cap systems. This skimming amount is deducted again as part of other expenses. From an operational point of view, this results in an economically generated revenue of EUR 455 million, that exceeds the 2022 guidance of EUR > 420 million by more than 8%. An increase of more than 36% compared to the previous year's figure of EUR 332.7 million. Already now the revenue of full-year 2022 exceeds the target value of the ‘>> Fast Forward 2025’ growth strategy of EUR > 440 million by more than 3%.

Operating earnings before interest, taxes, depreciation and amortisation (operating EBITDA) of around EUR 340 million in the 2022 financial year exceeds the 2022 guidance of EUR > 310 million by more than 9%, and by around one third (+33%) compared to the previous year`s figure of EUR 256.4 million. Operating EBITDA also already exceeds the target of the ‘>> Fast Forward 2025’ growth strategy of EUR > 330 million by more than 3%. The EBITDA margin remains stable at around 75% post revenue skimming.

This leads to an increase in the results from operating activities (operating EBIT) of around EUR 195 million, exceeding the 2022 guidance of EUR > 185 million by more than 5% and by more than 30% compared to the previous year’s figure of EUR 149.1 million. Encavis already almost reaches the target figure of EUR > 198 million set in the growth strategy ‘>> Fast Forward 2025’.

Overall, this results in significantly improved operating earnings per share (EPS) of more than EUR0.58 for the 2022 financial year, which will also be well above the 2022 guidance of EUR 0.55 bay more than 5% - an increase of at least 20% compared to the previous year's figure of EUR 0.48 per share.

Particularly positive is the significantly strong increase in operating cash flow to around EUR 320 million, exceeding the 2022 guidance of EUR > 280 million by more than 14% and by more than EUR 68 million or around 27% compared to the previous year’s result of EUR 251.9 million.

About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity currently adds up to around 3.5 gigawatts (GW), which corresponds to a total saving of more than 1.4 million tonnes of CO₂ per year. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their "A" level and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.com 

Contact:
ENCAVIS AG         
Jörg Peters          
Head of Corporate Communications & IR    
Tel.: + 49 40 37 85 62 242      
E-Mail: [email protected]