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ENCAVIS AG: Q1 2022 results are significantly above previous year

DGAP-News: ENCAVIS AG / Key word(s): Quarter Results/Quarterly / Interim Statement ENCAVIS AG: Q1 2022 results are significantly above previous year 12.05.2022 / 07:00 The issuer is solely responsible for the content of this announcement. Corporate News

Q1 2022 results of Encavis AG are significantly above previous year


Hamburg, May 12, 2022 – SDAX-listed and Hamburg-based wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) benefits in the first quarter 2022 of three main drivers for revenue and earnings figures:

1. Increase in production of Renewable Electricity based on growth of own generation capacity to 2.0 gigawatts (GW)

2. Significantly better weather conditions in Q1 2022 as of the comparable quarter the year before

3. Ongoing high electricity prices high above the level of the comparable quarter the year before

The Management Board confirms the guidance for the full year 2022e, given in March this year, as well as the growth strategy >> Fast Forward 2025.

The Group increased electricity production from Renewable Energy by one third (+33%) to around 710 gigawatt hours (GWh / previous year: 536 GWh) during the first three months of fiscal year 2022. Revenue grew by 53% to EUR 90.4 million (previous year: EUR 58.9 million). This strong growth of more than EUR 30 million has to be split half and half to the Group’s portfolio of wind farms and solar parks. Revenue of the solar park portfolio in Q1/2022 exceeded prevous year’s figure by around EUR 15.3 million. An increase of around 42%, mainly driven by the 40% higher electricity production of the solar parks. Revenue of the wind farm portfolio also grew by around EUR 14.7 million compared to previous year’s figure. A significant increase by around 72%, based on the 25% increased production volume of electricity and on the significantly higher electricity prices in Q1 2022 compared to Q1 2021. Main contributors were German and Danish wind farms.