ENCAVIS achieves results for the first half of 2024 below the same period last year, as expected, but currently confirms the guidance for the financial year 2024

EQS-News: ENCAVIS AG / Key word(s): Half Year Results/Interim Report ENCAVIS achieves results for the first half of 2024 below the same period last year, as expected, but currently confirms the guidance for the financial year 2024 14.08.2024 / 18:16 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News ENCAVIS achieves results for the first half of 2024 below the same period last year, as expected, but currently confirms the guidance for the financial year 2024

Hamburg, 14^th August 2024 – The MDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) reports, as expected, significantly lower revenue and earnings in the first half of 2024 compared to the same period last year (excluding costs of project Elbe/KKR).

As expected, the price level in the first six months of this year (H1/2024) was again below the price level of the first half of 2023 (H1/2023). In H1/2024, electricity prices in the Group’s entire Europe-wide generation portfolio were more than one third (>33%) below the prices in the same period of the previous year (H1/2023). This price-related decline in net revenue of around 12 million euros is deepened by the negative volume effect in the amount of another around 10 million euros. Operating net revenue and operating earnings figures*⁾ in the same period of the previous year (H1/2023) benefited from a positive one-off effect of around 8.7 million euros from the additional payment of the Dutch feed-in tariff for the previous fiscal year 2022.

Net operating revenue for the first half of 2024, amounting to approximately EUR 205.0 million, was approximately EUR 21.3 million (-9%) below the comparable prior-year figure of EUR 226.3 million (after deduction of electricity price caps). Operating adjusted earnings before interest, taxes, depreciation and amortisation (operating EBITDA) for the first six months of 2024, at EUR 126.1 million¹⁾, represent a significant decrease of approximately EUR 25.6 million¹⁾ (-17 %¹⁾) compared to the prior-year figure of EUR 151.6 million. This results in operating adjusted earnings before interest and taxes (operating EBIT) for the first half of 2024, which, at EUR 65.3 million¹⁾, shows a significant decrease of approximately EUR 28.2 million¹⁾ (-30%¹⁾) compared to the prior-year figure of EUR 93.5 million.