EQS-News
ENCAVIS AG again surpasses its guidance with its Consolidated Financial Statements 2023 – Operating Cash Flow 2023 influenced by non-recurring effects
- Encavis AG surpasses guidance in 2023 financial statements
- Energy production increased by 7% despite weaker conditions
- Operating cash flow influenced by non-recurring effects
EQS-News: ENCAVIS AG / Key word(s): Annual Report/Annual Results
Corporate News |
Hamburg, 26March 2024 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) remains
on its clear growth path. In the financial year 2023, the Group increased its energy production to around 3,354 gigawatt hours (GWh) despite the weaker meteorological conditions in the first half
of 2023. It was thus around 7% higher than in the previous year (3,133 GWh).
In fiscal year 2023, projects and project rights were acquired for around 550 megawatts (MW) of generation capacity, which corresponds to an amount of 1,000 GWh of electricity to be produced annually. With this result, Encavis has outperformed its own target of 750 GWh by one third.
All financial key figures for 2023, except for operating cash flow, exceed the guidance, even if – with the exception of EPS – they are below the extraordinary high figures for the exceptional year
2022. Here are all operating key figures in a year-on-year comparison:
Operating earnings before interest and taxes (operating EBIT) decreased only marginally to 194.3 million euros (previous year: 198.3 million euros) and again exceeded the guidance of “more than 185 million euros” by a good 5 %. Despite the growth, a slight decline in operating financial result and significantly lower taxes on income and earnings compared to the exceptionally strong previous year resulted in operating earnings per share of EUR 0.60, which is in line with guidance and the previous year's level (EUR 0.60 each). In these turbulent times, Encavis' business model continues to be very robust – with operating earnings per share (operating EPS) at the previous year's level despite lower net revenue than in the prior year.