DGAP-News
Colexon Energy AG enjoyed a positive first half year: recurring EBITDA up by 79% to 3.7 mio EUR in H1'14, record figures for 7C Solarparken NV.
DGAP-News: COLEXON Energy AG / Key word(s): Half Year Results
Colexon Energy AG enjoyed a positive first half year: recurring EBITDA
up by 79% to 3.7 mio EUR in H1'14, record figures for 7C Solarparken
NV.
26.08.2014 / 17:32
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- Adjusted for one-off items, EBITDA of Colexon rose by 79% to EUR 3.7mio
- Astenhof relocation, merger transaction and restructuring expenses
distort H1 figures
- Cost initiatives under new Management at full speed
- Record numbers for 7C Solarparken NV, which also expanded its PV Estate
portfolio
Hamburg, August, 26 2014 - COLEXON Energy AG (WKN: A11QW6, ISIN:
DE000A11QW6; Stock Exchange: General Standard in Frankfurt/Main) achieved
an increase in revenues by 13% to EUR 6.2mio in H1'14. Production rose by
16% thanks to much sunnier weather than last year, but overall there has
been 10% less capacity in operation given the dismantlement of the old
Astenhof installation. Reported EBITDA dropped from EUR 2.7mio in H1'13 to
EUR 2.1mio in H1'14 because of three exceptional cost items: i) EUR 0.3mio
merger transaction costs, ii) EUR 1.25mio non-activated expenses related to
the relocation and iii) restructuring fees of EUR 0.4mio related to the
leave of Mr. Hars and 6 other employees. Mainly due to cash-outs for the
Astenhof relocation, the free liquidity dropped from EUR 5.3mio at year-end
2013 to EUR 2.5mio at the end of June '14.
Management prepares new Strategic plan - cost initiatives at full speed
As will be detailed in the Strategic Plan, cost rationalization and a
fitter structure have been immediate action points implemented by the new
management. Number of employees has been reduced from 21 in 2013 to 17 at
the end of June, but they include 6 employees that have already been
dismissed in H1'14 and another 3 that are leaving in Q3'14. As a result,
only 8 employees including the two-persons board of directors will remain
in the company.
7C Solarparken NV with record figures during H1'14 - expansion of its PV
Estate portfolio
The growth path of 7C Solarparken NV has brought its fruits as EBITDA rose
to EUR 5.7mio. Adjusted for merger/ transaction costs, EBITDA would even
have been EUR 5.9mio. These numbers do not include any revaluation effects
of parks. Cash on balance sheet amounted to EUR 9.5mio of which EUR 3.9mio
is free liquidity. During the first half, 7C Solarparken NV significantly
expanded its PV Estate portfolio through acquiring the land on a 7MWp park
in Zerre and through purchasing an office building in Bayreuth including
the ownership of different related PV installations (carport, rooftop and
tracker) and a battery for self-consumption. Aside from lucrative deals in
PV Estate, the company will shortly close the negotiations of wider
expansion of its IPP portfolio.
Upcoming Dates
26. August 2014 Publication of the H1 figures 2014
18. November 2014 Publication of the Q3 figures 2014
Contact:
COLEXON Energy AG
Große Elbstr. 43
22767 Hamburg
Deutschland
FON: +49 (0)40. 28 00 31-100
FAX: +49 (0)40. 28 00 31-102
EMAIL: info@colexon.de
www.colexon.de
---------------------------------------------------------------------
26.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: COLEXON Energy AG
Große Elbstraße 43
22767 Hamburg
Germany
Phone: +49(0)40 280031 100
Fax: +49(0)40 280031 102
E-mail: info@colexon.de
Internet: www.colexon.de
ISIN: DE000A11QW68
WKN: A11QW6
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
284022 26.08.2014
- Adjusted for one-off items, EBITDA of Colexon rose by 79% to EUR 3.7mio
- Astenhof relocation, merger transaction and restructuring expenses
distort H1 figures
- Cost initiatives under new Management at full speed
- Record numbers for 7C Solarparken NV, which also expanded its PV Estate
portfolio
Hamburg, August, 26 2014 - COLEXON Energy AG (WKN: A11QW6, ISIN:
DE000A11QW6; Stock Exchange: General Standard in Frankfurt/Main) achieved
an increase in revenues by 13% to EUR 6.2mio in H1'14. Production rose by
16% thanks to much sunnier weather than last year, but overall there has
been 10% less capacity in operation given the dismantlement of the old
Astenhof installation. Reported EBITDA dropped from EUR 2.7mio in H1'13 to
EUR 2.1mio in H1'14 because of three exceptional cost items: i) EUR 0.3mio
merger transaction costs, ii) EUR 1.25mio non-activated expenses related to
the relocation and iii) restructuring fees of EUR 0.4mio related to the
leave of Mr. Hars and 6 other employees. Mainly due to cash-outs for the
Astenhof relocation, the free liquidity dropped from EUR 5.3mio at year-end
2013 to EUR 2.5mio at the end of June '14.
Management prepares new Strategic plan - cost initiatives at full speed
As will be detailed in the Strategic Plan, cost rationalization and a
fitter structure have been immediate action points implemented by the new
management. Number of employees has been reduced from 21 in 2013 to 17 at
the end of June, but they include 6 employees that have already been
dismissed in H1'14 and another 3 that are leaving in Q3'14. As a result,
only 8 employees including the two-persons board of directors will remain
in the company.
7C Solarparken NV with record figures during H1'14 - expansion of its PV
Estate portfolio
The growth path of 7C Solarparken NV has brought its fruits as EBITDA rose
to EUR 5.7mio. Adjusted for merger/ transaction costs, EBITDA would even
have been EUR 5.9mio. These numbers do not include any revaluation effects
of parks. Cash on balance sheet amounted to EUR 9.5mio of which EUR 3.9mio
is free liquidity. During the first half, 7C Solarparken NV significantly
expanded its PV Estate portfolio through acquiring the land on a 7MWp park
in Zerre and through purchasing an office building in Bayreuth including
the ownership of different related PV installations (carport, rooftop and
tracker) and a battery for self-consumption. Aside from lucrative deals in
PV Estate, the company will shortly close the negotiations of wider
expansion of its IPP portfolio.
Upcoming Dates
26. August 2014 Publication of the H1 figures 2014
18. November 2014 Publication of the Q3 figures 2014
Contact:
COLEXON Energy AG
Große Elbstr. 43
22767 Hamburg
Deutschland
FON: +49 (0)40. 28 00 31-100
FAX: +49 (0)40. 28 00 31-102
EMAIL: info@colexon.de
www.colexon.de
---------------------------------------------------------------------
26.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: COLEXON Energy AG
Große Elbstraße 43
22767 Hamburg
Germany
Phone: +49(0)40 280031 100
Fax: +49(0)40 280031 102
E-mail: info@colexon.de
Internet: www.colexon.de
ISIN: DE000A11QW68
WKN: A11QW6
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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284022 26.08.2014
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