ENCAVIS achieves results in the first three quarters of 2024 below the figures for the same period of the previous year due to unforeseeable events and adjusts guidance for the current financial year

EQS-News: ENCAVIS AG / Key word(s): Quarter Results/Change in Forecast ENCAVIS achieves results in the first three quarters of 2024 below the figures for the same period of the previous year due to unforeseeable events and adjusts guidance for the current financial year 08.11.2024 / 18:20 CET/CEST The issuer is solely responsible for the content of this announcement.

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Corporate News


ENCAVIS achieves results in the first three quarters of 2024 below the figures for the same period of the previous year due to unforeseeable events and adjusts its guidance for the current financial year


Hamburg 8 November2024 – The SDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) is significantly below the figures for the same period of the previous year (excluding the costs of the voluntary public takeover bid by Elbe BidCo AG) in terms of revenue and earnings after nine months of the 2024 financial year due to unforeseeable events, despite a slight increase in electricity production and strong growth in the Service segment.

Electricity production, which amounted to 2,673 gigawatt hours (GWh) in the same period of the previous year, rose to around 2,677 GWh after three quarters in the 2024 financial year.

The net operating revenue^*) of around EUR 321.6 million achieved after nine months of the 2024 financial year was around EUR 34.5 million (-10%) below the previous year's figure of EUR 356.1 million (after deducting the electricity price brakes). Adjusted operating earnings before interest, taxes, depreciation and amortization (operating EBITDA^*)) in the first nine months of the 2024 financial year amounted to EUR 201.3 million¹⁾, a significant decrease of around EUR 44.8 million¹⁾ (-18%¹⁾) compared to the previous year's figure of EUR 246.1 million. This results in adjusted operating earnings before interest and taxes (operating EBIT^*)) for the first three quarters of 2024 of EUR 109.3 million¹⁾, a significant decrease of around EUR 49.5 million¹⁾ (-31%¹⁾) compared to the previous year's figure of EUR 158.9 million.