EQS-News

clearvise AG looks back on successful financial year 2023 according to preliminary results and outperforms earnings forecast

EQS-News: clearvise AG / Key word(s): Preliminary Results clearvise AG looks back on successful financial year 2023 according to preliminary results and outperforms earnings forecast 17.04.2024 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. clearvise AG looks back on successful financial year 2023 according to preliminary results and outperforms earnings forecast

• Consolidated revenue of EUR 44.8 million at the upper end of the forecast range
• Adjusted EBITDA exceeds forecast at EUR 30.3 million
• Production in line with expectations at 533 GWh

Frankfurt, 17 April 2023 – clearvise AG (WKN A1EWXA / ISIN DE000A1EWXA4), an independent power producer from renewable energies with a diversified European portfolio of wind and PV plants, looks back on a successful business year 2023 despite the challenging market environment, according to preliminary results. All key figures are within or even above the most recent forecast ranges.

In the 2023 financial year, consolidated revenue reached EUR 44.8 million (2022: EUR 64.0 million) and thus came in at the upper end of the forecast range of EUR 42 to 45 million. Moreover, adjusted EBITDA amounted to EUR 30.3 million (2022: EUR 50.0 million) and exceeded the forecast of EUR 26 to 29 million. The lower figures compared to the previous year are due to the normalisation of electricity prices at a lower level and the sale of a 30 MW wind park portfolio in Finland. The positive earnings contribution from the transaction amounts to EUR 5.5 million and is not included in the adjusted EBITDA. By contrast and despite the sale, electricity production rose by 8% to 533 GWh (2022: 493 GWh) and was therefore within the target corridor of 513 to 555 GWh. The equity ratio climbed to 44% (2022: 35%) and provides an excellent starting position for future financing.

Manuel Sieth, CFO of clearvise AG, comments: "We are very positive about the business figures. The general conditions in the reporting period were significantly more challenging than in 2022, when our industry benefited from exceptionally high electricity prices. We have made the most of this market phase by further optimising and diversifying our portfolio. As a result, we have increased our electricity production compared to the previous year, even though our portfolio was around 10 per cent smaller with the sale of the Finnish wind farms. This highlights the enormous potential of our portfolio. We are realising this step by step through active portfolio management. In addition, the strong equity ratio is a good basis for enabling the pipeline through debt financing."