Encavis reports solid results for 2017

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The German PV and wind power plant operator, Encavis AG (formerly known as Capital Stage) was able to increase its turnover by 57% to around €222.4 million in 2017, according to provisional results. The operating result (EBIT) has increased by 63% to over €100 million, the company added.

The positive performance for last year was achieved through the acquisition of further solar and wind parks, the take-over Chorus Clean Energy AG, and favorable meteorological weather conditions.

Encavis wants to continue its growth course in 2018. “In 2017, we not only acquired additional solar and wind farms with a generating capacity of more than 150 MW, but we also successfully entered into two very attractive markets with our first projects in Denmark and the Netherlands,” said Encavis CEO, Dierk Paskert.

For the current year, Encavis plans to make consistent use of opportunities that exist in the market. In addition, the “organizational efficiency” should be further increased, the company’s CFO, Christoph Husmann added.

The Management Board expects a further increase in sales and earnings. Accordingly, sales are expected to exceed €240 million in 2018, with EBIT reaching around €105 million. This forecast is based on the existing portfolio of photovoltaic and wind power plants, as well as average weather conditions until mid-March.

The availability of the facilities should thereby again exceed 95%. According to Husmann, these are “conservative assumptions”. Additional acquisitions of solar and wind farms and the planned grid-connection of approximately 100 MW, which Encavis has already acquired, offer enormous “further potential opportunities,” said Husmann.

Final results for the full financial year 2017 will be published on March 22, 2018.