EQS-News

Energiekontor AG: Successful project business delivers another record result in the 2023 financial year

EQS-News: Energiekontor AG / Key word(s): Annual Results Energiekontor AG: Successful project business delivers another record result in the 2023 financial year 28.03.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Successful project business delivers another record result in the 2023 financial year

• Raised earnings forecast met
• Sales and earnings significantly increased
• Dividend proposal elevated to 1.20 euros
• 2023 to 2028 growth strategy confirmed

Bremen, 28 March 2024 – Energiekontor AG (“Energiekontor”), a leading German project developer and operator of wind and solar parks listed in the General Standard, closed the 2023 financial year successfully. Figures stood at the upper end of the forecast range, which was raised in December 2023.

Raised forecast for 2023 met – dividend proposal increased

In a challenging market environment, Energiekontor was able to increase its consolidated revenues by almost a third to around 241.8 million euros in the 2023 financial year (2022: 187.6 million euros). With growth of 7.7 percent, total income amounted to 275.4 million euros (2022: 255.7 million euros). In particular, the extraordinarily successful project business and the overall reduction in operating expenses led to a positive increase in Group net profit (EBIT) of 43.1 percent to 114.4 million euros (2022: 80.0 million euros), which corresponds to an EBIT margin of 47.3 percent (2022: 42.6 percent). Adjusted for a slight decrease in the interest result, Energiekontor generated Group net profit before taxes (EBT) of 95.5 million euros (2022: 62.9 million euros) and an EBT margin of 39.5 percent (2022: 33.5 percent).

The year-on-year increase in Group EBT by more than 50 percent meets the growth forecast for Group EBT in the 2023 financial year, which was raised in mid-December 2023 to an anticipated rise of between 30 and 60 percent to between 80 and 100 million euros. At 95.5 million euros, Group EBT came in at the upper end of the range. Energiekontor had previously expected an increase in Group EBT of 10 to 20 percent.