Capital Stage AG hit 53.6% profit in 2013

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Hamburg-based solar and wind power company Capital Stage AG has this week published an encouraging set of financial figures for 2013, headlined by a 53.6% increase in profit for the year.

The company generated revenues of €57 million ($78.5 million) in 2013, with a 66 MWp portfolio expansion helping drive profits of €14 million – a figure that surpassed earning targets for the financial year.

EBITDA and EBIT earnings were equally robust, with the former increasing by 49.6% (€50.4 million) and the latter surging some 54.6% (€31.7 million).

The basis for much of Capital Stage’s positive financial year was an aggressive expansion program that saw the company purchase two large-scale solar PV projects in France’s Languedoc-Roussillon region in December. The 40 MW acquisition pushed the company’s entire renewable energy portfolio to 288 MWp, while further service contract acquisitions for third-party solar parks means that Capital Stage ended 2013 with some 165 MWp of solar power under their management and service supervision.

"In 2013, we have taken a tremendous dynamic development," said Capital Stage AG CEO Felix Goedhart. "We were able to broaden and internationalize our investor base, significantly increase our portfolio and enter into the French market. At the same time we have strengthened the second pillar of our group – the management and technical service of external solar parks – and therefore are very pleased with the development of Capital Stage and see a lot of potential for further growth."

Forecasts for 2014 anticipate further growth in sales revenues to more than €80 million, with EBITDA earnings expected to reach €67 million and EBIT rising to around €40 million.