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ENCAVIS AG

DGAP-News: ENCAVIS AG / Key word(s): Quarterly / Interim Statement/Forecast ENCAVIS AG 14.05.2021 / 07:00 The issuer is solely responsible for the content of this announcement. Corporate News

ENCAVIS reaffirms guidance 2021e after first quarter of 2021


Hamburg, May 14,2021 - The MDAX-listed and Hamburg-based wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) continues to grow as planned and increased its own power generation capacity by more than 40% to 1.8 gigawatts (GW) in Q1/2021 compared to the same period of the previous year (1.3 GW). Most of which was attributable to the Spanish projects La Cabrera (200 MW connected to the grid in September 2020) and Talayuela (300 MW connected to the grid in January 2021). The Management Board again confirms the guidance for the full year 2021e, given in March this year, as well as the growth strategy >> Fast Forward 2025.

The Group generated revenue of EUR 58.9 million (previous year: EUR 65.2 million) during the first three months of 2021. This decline of roughly 10% was mainly due to much lower levels of wind especially in the months of January and February. The revenue of the wind park portfolio was therefore around EUR 6.9 million lower year on year in the first quarter of 2021. By contrast, the revenue of the solar parks was approximately EUR 1.6 million higher than in the same period of the previous year. Although sunshine levels were lower overall than in the previous year, the two Spanish solar parks that were connected to the grid in September 2020 and January 2021, respectively, were able to more than make up for the decline. Because the Talayuela solar park was still in the ramp-up phase in the first quarter, as expected, revenue was accordingly lower than it would have been had the park already been fully productive throughout the period. In the Asset Management segment, revenue was roughly EUR 1.0 million lower year on year.